The Red Book® 2019 - Trinidad & Tobago

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R E S I D E N T I A L

S A L E S

Residential Sale Insights Despite pitfalls in the economy, demand in the middle to lower Residential Sale segment has remained stable over the last 5 years. However, the composition of types of property and price ranges has changed to match that of changing consumer demands. Based on our data, house sales declined within the year 2014 to 2015, remained steady through to 2017, and then 2 declined in 2018. Moreover, the disparity between house

sales and combined sales of townhouses and apartments has decreased over the 5 year period, concluding in an excess in combined townhouse and apartment sales of 10% over house sales in 2018. This trend can be attributed to market forces. On the supply side, the scarcity of available land in densely populated high-demand areas and the respective costs have driven residential developers to construct multi-family dwellings to maximize on land size as well as building costs. On the demand side, townhouses and apartments are more affordable properties for the market that presently has the

Houses

Number of Transactions by Property Type

Figure 1

Land

Townhouses Apartments

60% 50% 40% 30% 20% 10% 0

2014

2015

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2016

2017

2018