Since taking office in September 2015, the government of Prime Minister Keith Rowley has been looking into the development of affordable housing with the twin objectives of meeting the needs of lower-income families and using the construction industry to stimulate employment and economic recovery. In December 2015, Rowley said his government...
A diverse real estate market exists in Trinidad and Tobago, focused on domestic home ownership and rental, tourism-related property sales and rentals, and commercial property and office space. There are several hundred active real estate agents operating across T&T. The central bank classifies these activities as part of the wider “finance...
The construction industry is an important part of the local economy, accounting for almost 5% of GDP. Central bank data projected this figure would fall to 4.7% in 2016, a 0.2-percentage-point decrease from the year before. The bank also expected the construction and quarrying segment would contract by 7.6% in 2016. This downturn in...
A gradual recovery in the number of projects on construction firms’ order books for 2017 is expected. Current performance in the sector hints that an improvement could come, based on a moderate pick-up in the energy sector and greater public sector demand. Progress is being made to develop public-private partnerships and push forward with the project pipeline. Although the real estate market...
After facing headwinds such as depressed international energy prices, and rising debt and fiscal imbalances, Trinidad and Tobago’s economic recession appears to be turning a corner, with GDP growth projected to climb to 0.3% in 2017 and 3.4% in 2018. As one of the largest and most diversified economies in the English-speaking Caribbean, the country is beginning to benefit from the new administration’s process of fiscal adjustment and economic diversification, spurred on by an ambitious public works pipeline.
With economic growth reducing poverty and increasing the size of Colombia’s middle class, government programmes are having a major impact in lowering the country’s housing deficit.
Programmes to allocate free homes to the lowest-income segments, reduce the costs of acquisition and ease access to banking credit for other segments of the population...
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