There is not enough land in T&T to satisfy the high demand, said a spokesperson for Kanhai Real Estate.
Speaking on condition of anonymity, he said there had been instances where members of the public had to be turned away because land was not available for sale.
He was commenting on a new initiative announced by the Government to provide subsidised developed land to potential homeowners for people earning as much as $30,000 a month.
At Thursday's post-cabinet news conference, Minister of Land and Marine Resources Jairam Seemungal said the Government was trying to expand the Land for Landless programme so that middle-income earners could benefit.
"We are not seeing too much land becoming available. A lot of people want land and we hardly have land available.
"It is difficult to find land now. People are looking for land and they still can't find land and when they get it, it is for a pound and a crown. It is a supply and demand situation," said the real estate agent.
Despite the high demand for land by members of the public, Kanhai Real Estate does not see the Government as a main competitor because the Government owns state lands.
Price of land differed depending on where the land was located, he said.
"If you are talking about Valsayn, there are usually half acre in those areas costing about $4 million. That is the figure you could be looking at if someone is prepared to sell in North Valsayn."
If, however, the customer wanted to buy one acre of land in Tunapuna, depending on the part of Tunapuna the cost on average would be $160,000.
"If there are rundown properties around, the prices would drop. If there are nice properties around it the price would be even greater."
Kanhai Real Estate's customer base is mainly commercial customers who specifically want a particular location. Adisa Kamuzu, chief executive, Nation Builders Real Estate, said the price of land was determined on the basis of location as well as whether the area was perceived to be a safe area. He added that the price of land could be as low as $2.3 million or as high as $5 million depending on the location.
Kamuzu said for a location like Belmont, the price for land would be high due to its proximity to the capital, "but at the same time you are not going to get value for money because of the stigma attached to Belmont, since it is close to Laventille."
A customer who wants land in Chaguanas "stands a better chance," because the area is developing and the areas are nearby.
Land in Chaguanas can start from $65 per sq foot and can increase to $135 per sq foot.