Page 4 - Coldwell Banker's 2023 Listings

Turks and Caicos Islands Real Estate...
Now is the Time to Invest in the TCI Real Estate Market...
Anyone looking for Caribbean/international real estate investments, TCI is a great place to put at the top of your list, and the timing couldn’t be better.
The past several years it’s been a good few years to invest in property in TCI real estate?
As an active member of the Turks and Caicos Real Estate Association (TCREA) with over 15 years of experience in TCI real estate, admittedly, there have been some fairly-recent not-so-great years, most notably in 2009 when Turks and Caicos real estate transactions reached an all-time low, with prices dropping by 18 percent. But since then, “economic recovery has been very good and the real estate market has certainly bounced back, showing significant growth every year since 2009.
I believe the Turks and Caicos real estate market is still under-priced today. “Sometimes people think when the market bounces back, they’ve missed the opportunity to buy because prices are going up, but that’s not the case at all in Turks and Caicos,” he says. “It’s still a very good time to purchase real estate here. If you compare Turks and Caicos to other top comparable islands in the Caribbean, Turks and Caicos is still under-priced and offers tremendous value to foreign investors.”
Of course, there are more reasons to buy Turks and Caicos real estate other than just undervalued prices, I’ll add. Turks and Caicos is a British Overseas Territory with an investment-friendly land registry system protected by the British Crown. Stable government with-in an offshore tax free jurisdiction, meaning there are no annual property taxes, no income tax, capital gains, sales or inheritances taxes. The islands are considered one of the safest countries in the Caribbean, with a crime rate ranked as “relatively low” by the US State Department. For American investors in particular, additional pluses are that English is TCI’s official language, the US Dollar is the legal currency, and TCI’s close proximity to the US mainland. Providenciales International Airport is just an hour and twenty minute flight away from Miami, two hours from Atlanta, and 2.5 hours from New York City.
All of these factors, plus the incredible beauty of our silky sands and Azul waters, make TCI an attractive place to invest and live. And if you buy now, you are still getting in at a very good time. I expect property values to continue moving upwards in the immediate years ahead, with the biggest growth in the high-end, luxury beachfront villa sector.
As far as where to buy in Turks and Caicos, there are areas I see such as Leeward as one of the most attractive areas to invest in. “Leeward is a gated community, located on the east end of Providenciales, which is also home to the world class Blue Haven Marina. Leeward features some of the most amazing canal front residences, which are all within walking distance of Grace Bay Beach. “There have been many very successful sales in Leeward, with most recent sales including a 10 acre land parcel listed at $12 million and several canal lot homes in the $1.5 million to $5 million range.
There are also some up and coming areas that are standing strong and holding its value on par with Leeward, such as areas like Turtle Tail, Long Bay beach, Chalksound. These areas are fresh and new and although not close to the action in Grace Bay as Leeward, you find a large number of owners and guests who prefer the privacy and peacefulness these areas offer.
We welcome you to be a part of this rewarding market, as ownership in these Islands is quite an easy process.
Come and be a part of the rewarding benefits a luxury Island lifestyle offers. I am here to answer any questions you may have.