Turks & Caicos Islands Real Estate Winter/Spring 2023/24

COURTESY CORCORAN TURKS & CAICOS
Leeward Reserve is a new luxury community in Leeward with completed villas, under-construction villas, and lots available for sale.
This “refined and upscale community” will include the Opal Wellness Centre, dedicated to the healing of mind and body.
average prices, highlighting the appeal of this segment. As
a myriad of new projects are in the pipeline to replenish
supply, the market remains dynamic and ripe. The TCI
Government has introduced reduced stamp duty for land
acquisitions in the family islands, new developments, or
first-time condominium sales throughout the Turks &
Caicos Islands in order to incentivize real estate investments
and emerging enterprises.
In the condominium sector, new development inventory
is in high demand, with quality units typically selling
quickly and at excellent prices. With projects like The
Point by Grace Bay Resorts, The Loren at Turtle Cove,
The Andaz Residences at Grace Bay, ARC at South
Bank, Leeward Reserve, The Sanctuary, and St. Regis
Turks & Caicos, the future looks promising.
The TCI Government—and by extension Invest
Turks & Caicos (Invest TCI)—is committed to promoting
investment, economic development, and partnerships
within the Turks & Caicos Islands. Their participation
in the USA-Caribbean Investment Forum 2023 is a testament
to their mission and dedication to contributing
to the sustained development of the Caribbean region
through investment and collaboration.
In conclusion, the Turks and Caicos Islands are experiencing
a season of growth and opportunity, with the
completion of the Norman B. Saunders Sr. International
Airport opening new doors for investors and travellers
Compelling reasons for investing in the Turks &
Caicos Islands are:
Tax Benefits: The Islands have a historically low tax
environment, with no corporation taxes or exchange
restrictions, no income taxes on property income, no
capital gains taxes on property sales, and no estate or
inheritance taxes.
Currency: The dominant currency in use is the
United States dollar, offering both financial security
and convenience for transactions.
Steady Appreciation: Property values in the Turks &
Caicos Islands have steadily increased over the past
decade, making it a promising location for long-term
investments.
Tourism Growth: TCI has seen a steady increase
in tourism, establishing itself as a favoured spot for
travellers, including a significant number of returning
visitors.
Accessibility: The Islands offer one-stop flights from
major international cities, including London, making
it convenient for investors and vacationers alike.
alike. Whether you’re considering real estate investment
or exploring partnerships in the Caribbean, this vibrant
destination offers a wealth of prospects for a bright and
prosperous future. v
40 Turks & Caicos Islands Real Estate – The Official Magazine of the Turks & Caicos Real Estate Association