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Trinidad and Tobago Property Investment For Sale

 

"With Barbados now pricing itself out of the reach of many, Tobago is one of the islands to step into the breach."

 

Trinidad and Tobago is a tiny twin island republic with an ecological and geographical diversity that is truly unmatched in the Caribbean.

Trinidad, the larger and livelier of the islands, is the energetic heart of the republic, a thriving economic hub with a robust industrial sector which is often described as a “Tiger economy”, and is the leading Caribbean producer of oil and gas which accounts for around 40% of GDP and 80% of exports. Trinidad and Tobago is the world’s largest supplier of ammonia and methanol and is the largest supplier of Liquefied Natural Gas to the USA. The country is also a regional financial centre with a well-regulated and stable financial system and has one of the highest growth rates and per capital incomes in Latin America.

However the government is committed to increasing investment and projected growth in agriculture, information and communications technology, shipping and tourism, the later based on the smaller island of Tobago.

Tobago, in contrast to Trinidad, has palm-lined white sand beaches, lush rainforests and some of the richest coral reefs in the Caribbean, home to over 600 species of fish.  Being at the most southerly point in the Caribbean, Trinidad and Tobago are also the only islands where yacht insurance against hurricanes is obtainable. 

With no capital gains tax Trinidad and Tobago is seen by some as a cheaper alternative to Barbados, although like many of the Caribbean islands, high rental income taxes and high buying costs should be taken into consideration.
 

Country Guide

Geography

Trinidad and Tobago is an archipelagic republic made up of twenty three islands situated in the southern Caribbean. Trinidad is the more inhabited and livelier island whereas Tobago is quieter and more peaceful. The two islands are connected by a two hour boat service or a short fifteen minute flight. Trinidad contains three mountain ranges which dominates various parts of the island. There are also many rivers and streams which run throughout the island, the Ortoire River is the main river on the island. Tobago is the northern island and very mountainous. It is classed as a volcanic island although it contains no active volcanoes. As the smaller quiet island it boasts many beautiful un-spoilt beaches and large areas of rainforest.

Government

The government is known as the Republic of Trinidad and Tobago and is a parliamentary democracy with a system based on that of Westminster. 

Language

English is the official language in Trinidad and Tobago although most of the local people speak Caribbean Hindustani which is a dialect of Hindi. In commercial and built up tourist areas some nationals speak French, Spanish and Chinese.

Standard of Living

Trinidad and Tobago enjoy a fairly high standard of living; this is due to the government's plans to develop the islands' tourist industry. Infrastructure has been improved and unemployment is being tackled. With more money coming into the country the standard of living will continue to improve.

 

Country Economy

Trinidad and Tobago have a stable economy and, unlike other Caribbean countries, it has considerable amounts of oil and gas reserves. The economy relies heavily on earnings from its energy sector so the government is making efforts to diversify  the economy and develop other areas such as tourism. The economy has seen considerable growth for the past few years and Indicators of economic growth include an increase in tourism, a raise in property prices and expanding infrastructure.

Key Industries

Trinidad and Tobago's main imports include machinery, transportation equipment, manufactured goods, food and live animals. With the government promoting tourism the islands are starting to rely on their imports to support their expanding tourism sector. The islands' main exports consist of both natural resources and manufactured goods.The US is the country's main trading partner.

Key industires are petroleum and products, liquified natural gas, methanol, amonia, steel products, sugar, cocoa and coffee.

 

Hotspots

With Barbados now pricing itself out of the reach of many second home owners, Tobago is one of the islands to step into the breach. 

Port of Spain

Port of Spain is the capital of Trinidad and Tobago and the third largest city. The city is situated on the Gulf of Praia in the northwest of Trinidad. With two of the biggest banks in the English speaking part of the Caribbean the city is known as an important trading and administrative centre, whilst also being a major shipping concourse in the Caribbean. The city offers a mix of natural vistas and nocturnal activities to entertain the tourist.

San Fernando

San Fernando is a costal town located in the southwest of Trinidad. The town is situated on a hill and is known as the industrial capital of Trinidad and Tobago. San Fernando Hill is the focal point of the town with a fantastic vista overlooking the western side of Trinidad. The town is also called the 'Carnival city' because it hosts many competitions and parades throughout the year.

Arima

Arima is the fourth largest town in Trinidad and Tobago. The town is easily accessible from all major cities. Every year in August Arima hosts the annual Borough Day that the town celebrates with small festivals and street parades. Cleaver woods, Asa Wright nature centre and Santa Rosa Carib centre are all popular attractions and places to visit within the town.

Chaguanas

Chaguanas is situated in Central Trinidad and is the largest and fastest growing town in Trinidad and Tobago. The town has developed drastically over the years due to moderate property prices and bargain shopping. Chaguanas has now developed into a market town.

Scarborough

Scarborough is situated in Tobago and is the island's biggest town and although not yet a prime tourist destination, interest in the town is growing. In past years the town was formally known as Port Louis, named when the town was under French rule. In lower Scarborough there is Tobago's historical museum which is a very popular attraction among tourists. Every Friday and Saturday there is a street market held in the town centre which sells traditional souvenirs showing the culture of the island. A new shipping complex has been developed in the harbour to welcome the cruise tourist.

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