Turks and Caicos is a country of 40 islands with eight major inhabited islands located 575 miles south of Miami, Florida. The most developed is Providenciales, affectionately nicknamed 'Provo' and has a population of approximately 28,000.
Beachfront Development in Middle Caicos
Beachfront in Providenciales - 13 acres
Beachfront in Long Bay, Providenciales - 2
acres
Beachfront 55 acres in Grand Turk
Grand Turk Corktree Beach lot - $250.00 or 4
lots $535,000
Beachfront in Whitby North Caicos -
$3,500,000
Beachfront in Whitby North Caicos -
$550,000
Beachfront in Whitby North Caicos -
$750,000
Beachfront 3 Marys Cay near North
Caicos
Beachfront North Caicos near 3 Marys Cay - $700,000
Why buy in Turks and Caicos?
The advantages to buying are that the Islands boast a low crime rate. We are one of the safest countries in the Caribbean. Our proximity to the US and the convenience of daily flights from many North American cities makes TCI a destination of choice for many.Further, we use US currency and land registration is based on English common law. Because of our status as an offshore banking center, there are no income taxes, no estate taxes, no capital gains, no corporate or real estate taxes and no inheritance taxes. As well, there are no restrictions on foreign ownership. Ownership can be taken in your own name or a company name but the company must be domiciled here in the Turks and Caicos. Infrastructure is constantly improving to support tourism, and the people of Turks and Caicos are warm and welcoming. The beautiful weather all year round, award-winning beaches, snorkeling and diving add to the attraction of our Islands. Investors from all around the world are becoming aware of the many possibilities to be found here. More on Why Buy in TCI
How have property prices been doing?
About 85% of our buyers come from the US, so our market is a little slow due to the current economic climate, but the real estate market in TCI is still growing. Prices have not dropped. We will just see slower growth over the next two or three years. In one year from now state of the art hospitals which are in construction now will be done.You haven’t been hit by the downturn in the US?
Alll Caribbean countries to some degree have been effected by the American economic situation. Turks and Caicos because it has been proactive in the past few years has alreadycreated a tourist office in Toronto Canada to bring in Canadian investors as the dollar is strong against the American dollar. The Tourist Board and Government have visited England and set up offices there and have visited Dubai and other countries and have a trip to China planned. All focusing on bringing investors and tourists to the islands to make it a place for people to come. To ensure the continued excitement and growth of our economy in TCI, the local government recently approved a reduction in stamp duty (land transfer tax) which will last until the end of March, 2009. This reduction will benefit anyone purchasing real estate who is in the position to complete sales before this deadline. More on Stamp DutyCan we buy on the outlying islands?
We have over 30 uninhabited islands some of which have iguana, birds and wild
life, mangroves and lots of natural vegetation and sandy beaches. Their pristine
nature is a point of pride and these lands are there to visit and enjoy.
As mentioned before, Providenciales is the main hub, with the largest population
(22,000 people) in the country, but many opportunities still exist for investment
on Provo,
North
Caicos, South Caicos,
Middle
Caicos, Salt Cay,
Grand
Turk, West Caicos,
Parrot Cay and Ambergris Cay. North Caicos and Middle Caicos are affordable hot
spots for people investing in view lots Resort development is just starting in
Grand Turk and North Caicos, so now is a good time to take advantage of low
property prices that will yield high returns in the years to come. See next page
for Wavecrest
Development in Middle Caicos. Grand Turk, the capital and South Caicos had
major damage with Hurricane Ike that came through in September 2008. The Cruise
Ship Terminal was quickly back into operation and the houses are getting rebuilt in
a stronger way for the future. Salt Cay and Grand Turk in January, February and
March every year have the humpback whales coming through the Columbus Passage. It
is an experience that one will remember for ever.
But surely the day-trippers don’t see enough of the Islands?
Weekly, a cruise ship docks on the Capital Island of Grand Turk, allowing day trippers to get a small taste of our country. The Ministry of Tourism is confident that these day-trippers will enjoy their short stay enough to be attracted to come back and experience all the wonders we have to offer. This past year we had over 250,000 passengers from Cruise Ships visit Grand Turk and a number have expressed interest in coming back for a longer stay. From Provo daily trips go by Ferry to North Caicos and to other islands which provide a different experience. Scuba diving and snorkeling in many of the islands is some of the best in the Caribbean. A Causeway between North and Middle Caicos makes thee two islands very accessible for local people and tourists to enjoy the beaches, walking paths and caves.Air flights?
Turks and Caicos Islands currently have two full service international airports, one on Providenciales and the other on Grand Turk. There is one other international airport in South Caicos but is only active with commuter flights from Grand Turk and Provo. Most visitors fly into Provo when coming to the Islands and from there can easily take commuter flights to the other Islands.Our Provo airport is a modern facility welcoming dozens of international flights every week from North America, Europe and other Caribbean islands. There are direct flights from New York, Toronto, Philadelphia, Atlanta, Dallas, Charleston and Miami.
Is it safe to visit and live in Turks and Caicos?
We have the lowest crime rate, and the highest rate of solved crimes in the Caribbean. Petty theft does take place, and visitors are advised to use common sense and be aware of their surroundings at all times, but to answer your question: Is it safe? The answer is yes. Absolutely.
What is the future of the Turks and Caicos real estate market?
The future of the Turks and Caicos looks very positive as we are taking a proactive
approach to the future. The building of two state of the art hospitals, projects
like Dellis Cay with different architects from different parts of the world
creating homes and condos, the Greenbriar management in Ambergris Cay off South
Caicos will contribute to the growth and healthiness of the islands.
TCI is a high-end destination and will welcome investors and visitors from all
parts of the world. There will be opportunities for small investors and large
investors. You will see large yachts in the Turtle Cove Marina and in Leeward where
the Nikki Beach Club is located. There are two companies on Providenciales that
provide space for private jets on the airstrip. There are also luxury villas and
condos with spectacular views of the turquoise waters and white sand beaches.
We have Provo Golf Club a challenging course for golfersin Providenciales.
Other golf courses are planned in some of the other islands. Added to that is these
islands have the best snorkeling and scuba diving in the world with the coral
reefs.
Many opportunities still exist in this offshore community for investment in
resorts, villas, condos, hotels, and land especially on the Sister Islands of
Providenciales.