Cost of property in TT

[Trinione]

Some of my friends in Trinidad tell me that the property market is slowing down and prices have started dropping, particularly in de west. You all seeing the same thing? How far will prices go down?
One thing for sure, prices are way too expensive!

[Brownsugar]

Some of my friends in Trinidad tell me that the property market is slowing down and prices have started dropping, particularly in de west. You all seeing the same thing? How far will prices go down?
One thing for sure, prices are way too expensive!

A quick check of the Classifieds on Tuesday 23rd didn't really reveal a drop per se....what you are finding is that the properties just on the market for months (perhaps up to a year) so it's possible to negotiate a price less than what is advertised when you finally get around to pulling out your wallet.

But the market slowing down for sure cuz HCL had to put some kinda competition in the papers about 2 -3 months ago to get sales going in the Crossings at Santa Rosa.....
I personally will be keeping a closer eye on the prices now since ah curious to see how low it will go.....

[Bakes]

Some of my friends in Trinidad tell me that the property market is slowing down and prices have started dropping, particularly in de west. You all seeing the same thing? How far will prices go down?
One thing for sure, prices are way too expensive!

A quick check of the Classifieds on Tuesday 23rd didn't really reveal a drop per se....what you are finding is that the properties just on the market for months (perhaps up to a year) so it's possible to negotiate a price less than what is advertised when you finally get around to pulling out your wallet.

But the market slowing down for sure cuz HCL had to put some kinda competition in the papers about 2 -3 months ago to get sales going in the Crossings at Santa Rosa.....
I personally will be keeping a closer eye on the prices now since ah curious to see how low it will go.....

What kinda competition?  What prices going for now, b/c when they were still being built 2 yrs ago I know they were going for $1m TT.

[Brownsugar]

HCL had a competition where they said that if you purchased one of the houses by July 31st (ah think that was de deadline), you would have qualified for $50,000 in furniture (can't remember if that was automatic or there would have been a draw, most likely the latter).

But the mere fact that they had to do something like that told me that those units were not being sold as fast as they would have in the past.  And I've been hearing grapevine talk here and there that people aren't as happy with those houses in the Crossings at Santa Rosa as some of the other projects HCL have done before.

[Disgruntled_Trini]

Prices have dipped somewhat. My very good friend who is a manager at NEALCO real estate has told me as such. But, the prices are so high at the moment even a slight drop is still very high.

HCL is in a bind at the moment. They are about $300 million over budget and way overdue.
A lot of people who originally bought the units to sell at a higher price are now selling at cost.
The trick to real estate especially gated communities is to buy when they are breaking ground.