A Guide to Buying Your Piece of Paradise in Tobago
Tobago’s “clean, green and serene” Caribbean paradise reputation has led to a rapid increase in overseas and homegrown property investment in the last decade.
The diversity of properties available – like their price tags – has grown to meet the demand, with single-family homes, townhouses, duplexes, golf course-hugging villas and stunning luxury mansions with breathtaking panoramic sea views.
Properties vary in location from the facility-rich southwestern tip, bustling with entertainment and services, to the idyllic seclusion of your very own island retreat overlooking one of Tobago’s many beautiful bays further northeast.
The lower-end properties, such as single-family homes, begin at TT$1 million (US$160,000) and rise to an eye-widening TT$19–25 million (US$3–4 million) for large luxury villas. The median price is around TT$2–3 million (US$400-500,000).
In February 2007, the Tobago House of Assembly (THA) introduced regulations requiring foreign buyers to obtain a licence before investing in property, in an effort to make home ownership more affordable for locals. Until early 2010, the system had yet to be determined and foreign investors remain in a wait-and-see position. Many reportedly have abandoned the prospect in the interim. However, the first licences to foreign real estate investors is said to have begun in the second quarter of 2010, while a backlog of applications remains to be cleared.
Meanwhile, though property prices remain high, there is no shortage of interest from locals, as increasing numbers of Trinis and Bagonians look to secure their own piece of paradise.
Whatever your yearning, be it for relocation, a weekend retreat, vacation or retirement home, our advertisers have the expertise and experience to get what you need.
Abraham Tobago Realty
Bacolet Street, Scarborough. T: 639-3325, F: 639-1904, E: email@example.com, W: www.abrahamrealty.com
You won’t find greater experience in the marketplace than with Brian Abraham, broker/owner of Abraham Tobago Realty, with over 35 years of real estate experience in North America and in Tobago. Integrity and professionalism are the hallmarks of his exceptional personal service, turning clients into life-long friends. Brian is currently the island’s only Canadian-licensed professional realtor. Abraham Tobago Realty offers a large selection of properties for sale and for rent as well as a comprehensive property management service.
Caribbean Estates, Lands & Villas
Corner Milford and Golden Grove Roads, Canaan. T: 639-LAND (5263) or 639-9663, F: 639-2258, E: firstname.lastname@example.org, W: www.realestatetobago.com
Opening its doors in August 2000, Caribbean Estates has a dedicated and energetic team and has quickly grown into and industry leader and one of Tobago’s biggest real estate companies. The organisation’s comprehensive service offers a one-stop shop to those looking for house and land sales, commercial properties, villa rentals and/or property management. Enjoying a reputation for integrity, efficiency and going that extra mile for their clients, Caribbean Estates prides itself on being able to steer its customers reliably through the property maze.
30 Shirvan Road. T: 639-0929/9297, F: 639-9050, E: email@example.com or Rentals.firstname.lastname@example.org, W: www.islreal.com
As a world-famous real estate and villa rental company, Island Investments has established an enviable reputation for customer satisfaction, but has now taken that commitment a step further. As well as house and land sales, long-term house and apartment rentals and property management, they now offer project coordination so that you can build your “home away from home” with full confidence. A report on every stage of the building process is sent via fax or e-mail along with pictures. Time frames are also set in order to ensure the job is on time and on budget.