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Caribbean Estates Land and Villas

Tobago, WI Phone868 639 5263 Websitehttp://www.realestatetobago.com

Category
Real Estate Agents
Island
Tobago

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At a glance

One of Tobago’s leading real estate agencies. Well-established, knowledgeable and reliable.

Best for:
Property sales and management, Project management

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In Depth

Caribbean Estates, Lands and Villas is one of the leading real estate agencies in Tobago and is owned and operated by Natalie Mahabir, a Trinidadian who has been in Tobago since the late 1980s. The company deals in the sale and rental of all types of real estate including residential, commercial and agricultural properties as well as tourism investment properties. Although the company was set up in August 2000, Natalie herself has been in real estate since 1992. Caribbean Estates, Lands & Villas also works as a villa rental and property management agency.

Natalie Mahabir started out in client representation in the management of construction projects, mainly villas, some of which she continues. Later she moved onto property development and marketing in 2000.

In 2001 she was joined by Ricardo Gaston-Johnston, who has a strong background in sales and is very knowledgeable about all aspects of real estate in Tobago. Caribbean Estates also offer advice on valuations, architectural and construction services, legal services and guidance through the planning approval process. Their office is on the corner of Milford and Golden Grove Roads in Canaan, which runs to the airport.

Tobago’s villa market has expanded enormously over the past couple of decades, particularly since 1990 when the Alien Landholding Act loosened the regulations and opened the market to foreign investment. The island has always had a strong interest from Trinidadians, but at that time foreigners became able to own up to an acre of land without special approvals and permissions and so they began to buy and to build homes. The price of land in the Mt Irvine Estate rose in value from about TT$6 per sq ft to around TT$50. In 2007 however, there was a hold placed on foreign ownership as the Trinidad and Tobago government decided to implement a licence system for non-residents to purchase property in Tobago and foreign nationals were not permitted to buy land or a villa on Tobago.

Since November 2009 non-residents can once again purchase property and land on Tobago. Certain areas on Tobago have been named as Designated Development Areas where licences will be freely granted once the relevant information is supplied by potential buyers. Outside of these areas, applications will be assessed on a case-by-case basis. Foreigners will be able to purchase multiple properties but are limited to just one parcel of residential land. Please see under Buyer's Guide for more information.

The villa market in Tobago is quite advanced now and many homes are valued at over US$1,000,000. Several are worth well over US$3,000,000.

Buyer's Guide for Tobago Real Estate

Here are a few things you should know about purchasing a property in Tobago:

• Citizens of Trinidad and Tobago are permitted to buy property freely.

• Since November 2009, foreigners were once again able to purchase property and land on Tobago. Certain areas on Tobago have been named as Designated Development Areas where licences will be freely granted once the relevant information is supplied by potential buyers. Outside of these areas, applications will be assessed on a case-by-case basis.

• Foreigners are able to purchase multiple properties but are limited to just one parcel of residential land. No sub-division of the purchased land will be allowed and the residential land must be used soley for that purpose. A time limit has also been placed on construction on newly acquired land, which must be completed within 36 months.

• There are currently no forms to complete, but buyers will need to supply the following documents:

Notarized copy of passport (relevant pages)
Town & Country Planning approval to build(for land purchase)
Credit reference from bank or financial institution
Certificate of Good Character

• The designated areas for foreigners to purchase property or land are:

Arnos Vale and Culloden
Bacolet Estate
Buccoo and Golden Grove Estate
Lowlands and Diamond Estate
Mt. Irvine and Grafton Estate

• Foreign nationals must pay in a nationally traded foreign currency.

• Permission to buy land does not confer residency. Buying a commercial property does not confer the right to work (earn an income) in Trinidad and Tobago.

• If you are intending to live in Tobago, foreign nationals should contact the Trinidad and Tobago High Commission in their country for information on immigration and/or work permit requirements prior to committing to purchase.

• If you are planning to come on holiday to enjoy your new property, a non-resident can usually get a visitor's visa for up to three months. Extensions can be applied for, but are not guaranteed, especially over six months.

Once you have decided to buy a house or land, here are the basic steps toward purchasing:

• Caribbean Estates, Lands & Villas will make an offer on your behalf, and, when a price has been mutually agreed, they will draw up a Sales Agreement stating the terms of the contract. On signing the Agreement, the purchaser pays a 10% deposit that is normally held in a special "escrow" account until completion of title searches. At this point the contract is binding on both parties.

• Once a Sales Agreement is signed and deposit paid, the buyer must instruct a local Attorney to search the seller's title to the property.

• Once good title to the property is established, the buyer is free to complete the purchase by paying the 90% balance of the agreed purchase price. Typically, this is done ninety (90)days from signing the Sales Agreement, but can be done as soon as the searches are complete.

• On completion of the purchase, the buyer must pay certain fees and duties called "closing charges". These include legal fees, stamp duty and fire insurance in the case of a house purchase. Stamp Duty is a sliding scale charge from 2% to 10% of property value, and legal fees are typically 1.5% to 2% of property value.

• Your purchase is registered officially at the Red House by your Attorney, and all purchases by foreign nationals are further registered with the Ministry of Finance, using bank documentation as proof of purchase in a foreign currency. Purchases in Tobago are also registered locally at the Warden's Office where future land and building taxes are paid. Land tax is currently TT$10 per acre per annum.

Building

The idea of building in a foreign country can be intimidating. When your purchase is complete, Caribbean Estates will be happy to advise you on building in Tobago, guide you through any planning procedures and arrange property management and holiday rentals.

It is also perhaps worth nothing that Natalie’s husband, John Otway, is a well-known Trinidadian architect. John favours the colonial style - but this little island has been colonised by the English, French, Spanish and Dutch so he has a lot of leeway. He loves working with wood, stone, coral. There are plenty of examples of John's work around Tobago, one of which is wonderful Bali inspired Ohana villa and another is Villa Soleil.

Selling

To list your property with Caribbean Estates, Lands & Villas:

• Call Caribbean Estates with initial information on the property and your contact information.

• Follow up with copies of your title deed, the latest land tax and water rates receipt and a survey plan or cadastral (sales only).

• Show them, or allow them to view your property and to recommend a selling/rental price based on their knowledge of the Tobago market. You will then be asked to jointly sign a listing contract stating the terms of the agreement and the commission rates etc.

• Caribbean Estates then guarantee to actively promote and advertise your property, bringing to you all offers received and/or market feedback. When an offer is accepted by you, Caribbean Estates will negotiate and draw up a Sales Agreement, accept the 10% deposit into their client account and facilitate the purchaser's Attorney until completion of the sale. After accepting a deposit and signing the Sales Agreement, the Seller is committed to the sale.

Condo/Townhouse Sales

Below you will find a small sample range of the properties that Caribbean Estates Land and Villas have for sale on Tobago:

  • 57D, Tobago Plantations

    Price: US $475,000
    57D Tobago Plantations

    This two bedroom bungalow is one of a cluster unit at Tobago Plantations. The centre of the villa is the kitchen, with the two bedrooms either side opening onto the small swimming pool and wooden decking.

    Location: Tobago, WI

  • 8A, Tobago Plantations

    Price: US $450,000
    8A Tobago Plantations

    wo-bed, three-bath condominium at Tobago Plantations in Southwest Tobago with beautiful views over the communal swimming pool to the Atlantic Ocean. Excellent condition.

    Location: Tobago, WI

  • Black Rock Dreams

    Price: US $735,000
    Black Rock Dreams

    This 3-bedroom condo unit offers an open-plan design with kitchen, living room and dining area giving onto a spacious veranda that overlooks the swimming pool and one of the best beaches on Tobago. Fully furnished.

    Location: Tobago, WI

Land Sales

Below you will find a small sample range of the properties that Caribbean Estates Land and Villas have for sale on Tobago:

  • Arnos Vale Estates

    Price: US $250,000
    Arnos Vale Estates

    One acre parcels in an 11-acre development, very close to the Arnos Vale Hotel. Almost all of the plots slope to the Caribbean Sea and offer beautiful sea views to Plymouth. Amenities nearby include: tennis, beach, restaurants, supermarket / Grocery, service station, public transport.

    Location: Tobago, WI

  • Englishmans Bay

    Price: US $150,000

    One acre parcels in a 400 acre estate on the Caribbean coast, midway between the east/west ends of the island. Only 20% of the estate will be developed as an eco residential / tourism resort. Most parcels overlook the bay. Only Lot 20 available.

    Location: Tobago, WI

Villa Sales

Below you will find a small sample range of the properties that Caribbean Estates Land and Villas have for sale on Tobago:

  • Canboulay

    Price: US $1
    Canboulay

    Tobago villas for sale, Mt Irvine Estate: A beautifully appointed three-bedroom home on the Mt Irvine Golf Course with each bedroom having an ensuite bathroom. Entrance to the house is through a large back patio that leads into the open plan living and dining room that flows out to the spacious front patio overlooking the pool and lush gardens and the view of the golf course. A wide open corridor leads to the bedrooms on either wing of the house, and to the kitchen and pantry that can also be accessed from the living and dining rooms. The basement level houses a self-contained studio apartment, a large storage room and a spacious enclosed area that contains the water tanks, pool equipment etc. This area can be converted into a recreation room or another apartment by relocating the water tanks. This is a wonderful property and should be seen to be fully appreciated. Highly recommended.

    Location: Tobago, WI

  • Friendsfield

    Price: US $495,000
    Friendsfield

    Friendsfield House enjoys an elevated position with views to the Caribbean Sea, high ceilings and wooden doors giving a spacious and breezy feel to the four bedroom villa. Surrounded by tropical gardens with swimming pool and 2 car garage.

    Location: Tobago, WI

  • Infinity Villa

    Price: US $1
    Infinity Villa

    This seafront villa offers 4 en suite bedrooms, all of which open out onto a wrap-round veranda affording fantastic views over the Atlantic. Living and dining areas come with hardwood floors and high ceilings, giving a grand, spacious feel.

    Location: Tobago, WI

  • Searose

    Price: US $495,000
    Searose

    Real Estate in Trinidad and Tobago is often built to a very high standard - this luxurious villa is no exception. Set in a quiet cul-de-sac of Bon Accord, the villa has 4 air-conditioned bedrooms with ensuite bathrooms - 1 on the ground floor and 3 on the first floor. The villa has a spacious air-conditioned living and dining area and a very well-equipped kitchen with quality new appliances. The living room opens onto a sun deck and private swimming pool. All bedrooms and the living area have televisions with cable tv. This villa is very well furnished and fitted with the highest level of comfort in mind. The villa is within walking distance to Pigeon Point and Store Bay, as well as shops, banks, restaurants and bars.

    Location: Tobago, WI

  • Seventh Heaven

    Price: US $1
    Seventh Heaven

    Sitting on over 1/2 acre of landscaped gardens - Seventh Heaven is a well appointed 6-bed 7.5-bath villa with lovely views of the Caribbean Sea across the Mt. Irvine Golf Course.

    Location: Tobago, WI

  • Sundance

    Price: US $475,000
    Sundance

    A well-appointed single storey villa with swimming pool on a 6,700 sq ft parcel. Located in a popular holiday area, the L-shped villa is surrounded by landscaped gardens. The large master bedroom opens into the open-plan living/dining/kitchen area. There are French doors out to the patio and pool terrace. The other two bedrooms are positioned on the opposite end of the house. This villa is a very good rental property, but would also make an ideal private home.

    Location: Tobago, WI

  • Tobago Plantations Villa

    Price: US $1,500,000
    Tobago Plantation Villa

    Newly built 4-bedroom villa on the Tobago Plantations Golf Course. The large swimming pool and deck look out over the 6th fairway to the Caribbean Sea. All bedrooms are air-conditioned.

    Location: Tobago, WI

Land Sales

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Condo/Townhouse Sales

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Villa Sales

  • Seventh Heaven

    Seventh Heaven
    Price: US $1
  • Tobago Plantations Villa

    Tobago Plantation Villa
    Price: US $1,500,000

View all Villa Sales