Turks & Caicos Islands Real Estate Summer/Fall 2023

As prime land availability steadily shrinks on Provo, buyers
are again focusing on the out islands. North Caicos witnessed
a record year in sales with 46 land parcels sold—4
oceanfront and 12 beachfront. Middle Caicos saw 14 land
sales, 6 were beachfront. With such growth, now is an
ideal time to purchase a parcel of land to develop or hold
for a land bank.
Condominium sales of $171 million held a steady
market share. While less than 2021’s historic performance,
they, too came in “second best,” double the previous alltime
high in 2016. Of the 147 condominium sales, 25
were new development representing 17% in units sold and
28% in dollar volume. The average price normalized at
$1,168,929 and the list-to-sell ratio held steady at 95%
with average days on market of 193.
The top selling re-sale beachfront condominium
development was Grace Bay Resorts (Grace Bay Club,
West Bay Club, and Point Grace) followed by Bianca
Sands and The Shore Club. Included in the high-end
sales were two penthouses (Wymara Resort and Ritz-
Carlton) and a residence at The Estate at Grace Bay Club.
The moderately priced condominiums sold well again too.
As tourist arrivals continue to grow and a vacation
in Turks & Caicos tops many a bucket list, new development
is the key to maintaining the momentum. Buyers are
looking for quality buildings and modern architecture in a
nature-bound residence. They opt for properties with spacious
indoor and outdoor areas and place high importance
on the levels of privacy the residence offers. Regardless of
amenities, location is key.
South Bank is a low density residential resort and
marina community on the south side of Providenciales,
with beachfront on Long Bay. Each neighborhood and
lot offers a unique relationship with the water, designed
for boating enthusiasts and watersports lovers. Its developers,
Windward, have just launched the iconic Piero
Lissoni-designed ARC. The project encompasses 17 twoto
five-bedroom “suspended villas” with private pools,
ranging in price from $3 million to $20 million for the
360-degree-view penthouse.
Windward is also debuting Nivå, designed by Ström
Architects, a contemporary design-driven collection of
only six luxury retreats dotted along the elevated tip of
Turtle Tail. Expansive social living spaces capture every
inch of the ocean through edge-to-edge glass and slender
exterior façade sleeves offer protection from the elements,
welcoming you to live outside as much as inside. Villas
prices start at $6.25 million.
28 Turks & Caicos Islands Real Estate – The Official Magazine of the Turks & Caicos Real Estate Association