Turks & Caicos Islands Real Estate Services

Whats fun to do in the Turks and Caicos Islands ?

Thought I would start doing a series of posts based on this question as I have been asked it so many times.

I have a feeling that some folks just don't get what we have to offer in the turks and Caicos Islands !!! Time to spotlight the Monaco of the Caribbean.

This was taken just offshore from Grace Bay Beach, voted one of worlds best beaches, looks like it could be fun... Actualy, I know its fun

Take a look at the amazing lifestyle we enjoy in The Turks and Caicos Islands.

Long Bay Beach

Caribbean Elegance Awaits.

Conjuring feelings of Caribbean cool and Tropical elegance through the legacy of an iconic master.

Christies International Real Estate

Exquisite craftsmanship, attention to detail, a taste of adventure and an amazing sense of texture create this 6000 square foot highly stylized architectural masterpiece that is The Shore Clubs new Estate Villa on Long Bay. Adorned as if a quintessential Barbadian Estate from a bygone era, it is the purest distillation of Caribbean chic.
Subtle arches deliver classical symmetry while Coral Stone Doric Colonnades, open balconies and decoratively terraced walkways clad in tropical foliage add charm, authenticity, depth and a sense of mood, securely rooted in a tropical, oceanfront lifestyle.

Enter a truly bespoke and exclusive resort residence, perfectly designed to offer unsurpassed views, tranquility, and the ultimate in privacy, all sweeping across 820 feet of pristine beach and azure waters.

The villas have been designed by creating strong lines and a magically defined connection between the villa, tropical landscape and ocean settings. Subtle proscenium arches act as focal points, capturing majestic views and framing scenic vistas, creating splendid botanical and turquoise ocean backdrops against which your life inside is played out, melting divisions between interior and exterior spaces, engaging your imagination in completing the scene, as if adding a final brush stroke to a timeless masterpiece.

In a world were every gaze settles upon a natural masterpiece, the true measure of design is to frame its splendor from the inside out, toward the theatre of nature, or from outside in, exposing an elegance of design, as if one was melting into the other…

As carefully crafted as its cool Caribbean architecture is the human element offered at The Shore Club. Truly subtle and understated, you will enjoy a lifestyle made easy with a personal butler. Welcoming you home, easing you into a state of relaxation from the moment you arrive.

The villa will enjoy all amenities of the Shore Club including the award-winning Hartling Group as Management Company for leasing as an option, concierge, reception, spa, retail boutique, fine dining, the grand colonnade pool and oceanfront pool and bar areas.

For further Details on the Shore Club please visit Christies International Real Estate 

The Real Estate market in the Turks and Caicos is like no other… so many factors contribute to the “Value” of our islands real estate, most of which are well outside of what many would ever consider when buying a property in their own hometown. In the beginning they are continually banging away on their calculators in a futile effort to compare a property they may have seen in the Bahamas, Florida, or even worse, back home.

Quality of life is not measured by the “Price per square foot” formula it doesn’t exactly translate to “value per square foot”.

On every showing, with every client, I share the same statement, and do the same exact thing. If you can imagine standing on a beautiful balcony, I direct their gaze through the palm trees and out onto the powder soft white sandy beach, and turquoise waters beyond the infinity pools and say:

“You know, you can buy four walls, marble tiled floors, and cascading bathroom fixtures anywhere in the world, but that,” (pointing to the ocean) “that you can’t get just buy anywhere”. 

This one-statement helps them put into perspective exactly what it is they are doing. It’s not just a new property they are looking at, but also a new lifestyle. 

However, that’s just scratching the surface. The Turks and Caicos Islands offer so much more than just a great new lifestyle; it offers an investment opportunity that is felt to be unrivalled throughout most of the Caribbean. 

With an attractive Tax Haven Status with no annual property, income, inheritance and capital gains tax, stable government, no restrictions on foreign ownership and property ownership guaranteed by the British Crown, the islands instil a level of confidence rarely found in the Caribbean.

When you roll all of this in with the TCI’s convenient and great location - just a 90 minute flight from the US mainland, a mere 3.5 hour direct flight from Canada, and the fact that it is English Speaking, with U.S. Dollar as the local currency and has a very low crime rate, these islands offer a treasure trove of benefits that add value to every property in the Turks and Caicos Islands. 

This level of understanding takes time, and is usually something we can pass onto to our clients within a reasonable showing period of a day or two. It’s at this point that they put away their calculators and see the big picture. The myriad of benefits briefly we briefly touched on is the true value of the property you will inevitably buy in the beautiful Turks and Caicos Islands.

Turks and Caicos Weekly News

Saturday December 3rd, 2011

A consortium of local and overseas investors have acquired 45 acres of Crown Land on a 99-year lease to plunge $15 million into construction of a private jet terminal with a hangar for parking 50 to 60 jets, that opens by the next tourist season.
Termed a Fixed Base Operation (FBO) and private aircraft terminal the facility at Providenciales will is expected to boost the luxury travel market to the Turks and Caicos Islands when it opens next year, investors and the government stated.

In a joint government and investor media release distributed at a press conference Thursday, December 01, it was stated that the new state-of-the-art FBO will feature generous parking and hangar space for large and small private aircraft, modern lounge and crew facilities, integrated customs and immigration as well as full servicing of private aircraft. 

According to the release the investing consortium, M Aviation, is a Turks and Caicos-based company owned and operated by investors who have already made significant tourism related investments developing a leading luxury resort in Turks and Caicos.
Lead person in the investment group, Michele Neuteling, told the media during the briefing at the Providenciales Airport International Lounge that M Aviation comprises fewer than 10 persons.
“TCI-based M Aviation Limited, Turks and Caicos Islands Authority (TCIAA) and the TCI Government have agreed on a commitment to develop the new FBO adjacent to Provo’s International Airport, tripling the private airport capacity at the airport,” the release stated, and continued: “Over one-third of aircraft movements at the airport already comes from private aircraft, despite accounting for only three per cent of passenger traffic.”
They say it will be ready in approximately 12 months time for the 2012/13 tourist season and will support 50 construction jobs during the build period and employ up to 20 personnel once operational. M Aviation has committed to adopt a minimum of 70 per cent local employment.
Governor Ric Todd added: “Such a significant investment commitment by a local company into our infrastructure shows that business confidence is building across the Turks and Caicos. The new facility will allow our islands to keep pace with other Caribbean destinations and play a key role in supporting our exclusive resorts.”
John Smith, Chief Executive of the TCIAA, commented that: “The private aviation market is showing tremendous growth as more and more affluent travelers wish to take advantage of the privacy, flexibility and convenience of traveling on a private plane. A second FBO facility in Turks & Caicos will position us well as a luxury destination for the future.”
M Aviation acquired the land on government’s lease principles taking inflation into account.

FOR IMMEDIATE RELEASE

November 18, 2011

Christie’s International Real Estate strengthens position in the Caribbean with Addition of a new Affiliate in the Turks and Caicos islands

Regency International Estates Joins Leading International Network of Real Estate Brokers

New York, New York—Christie’s International Real Estate, the world’s leading luxury real estate network, has awarded Affiliate status to Regency International Estates in the Turks and Caicos for a total of 13 brokerages in the Caribbean. Regency International Estates will exclusively represent the Christie’s brand throughout the Turks and Caicos Islands including the island of Providenciales, which was ranked the best beach destination in the world in 2011 by Trip Advisor. 

Wholly owned by Christie’s, the world’s leading art business, Christie’s International Real Estate is represented in more than 40 countries. Regency International 

Estates joins this carefully selected organization of brokerages with proven records of success in both high-end property sales and exemplary client service. 

“A key Caribbean offshore financial center, the Turks and Caicos Islands are increasingly becoming a desirable second-home destination for many affluent Europeans, Americans, Canadians, and British nationals,” says Jarvis Slade, Managing Director—Americas of Christie’s International Real Estate. “We welcome the opportunity to serve this important residential market through our newest Affiliate, Regency International Estates.” 

“We are very pleased to welcome Regency International Estates to our invitation-only Affiliate network,“ said Rick Moeser, Senior Vice President of Christie’s International Real Estate. “Led by Katherine Baryluk and Robert Greenwood, the firm is comprised of seasoned luxury real estate top producers who exemplify the Christie’s International Real Estate standards of quality, expertise, and integrity."

Katherine Baryluk, Owner/Broker of Regency International Estates, says, “Our passion and love for luxury real estate is something that we live and breathe every day. As our world gets smaller by the day, Regency International Estates recognizes the importance of international outreach and personal relationships worldwide. Being part of the incredible Christie’s International Real Estate network is a great opportunity to further our brokerage in the ultra-high-net-worth market, and we are very excited to take on the challenge.”

Long a favored destination for high-net-worth individuals from around the world, the Turks and Caicos are a group of picturesque tropical islands, located approximately 500 miles southeast of Miami. The archipelago’s numerous private islands—such as the star-studded Parrot Cay—are resplendent with pristine white-sand beaches, clear blue waters, secluded bays, and some of the most exceptional beach homes in the Caribbean. Ultra-high-net-worth individuals flock here for peace and quiet with five-star resorts and service, designed to cater to such a clientele with enormous investment benefits. Classified as a British Overseas Territory, the Turks and Caicos are a tax haven with no property, inheritance, or income taxes. With tourism skyrocketing in 2011, the islands are set for a prosperous future in 2012 and beyond.

ABOUT REGENCY INTERNATIONAL ESTATES

With over 30 years of experience in the Turks and Caicos Islands and more than 20 years in the real estate industry, we know these islands inside out. Having brokers from all over the world as part of the company allows us to communicate with clients from various points of view. We work directly with developers, architects, attorneys, and banks to ensure our clients get a great team behind them. Our goal is to provide exceptional service and a complete understanding of offshore investments; and all of our clients are VIPs, with no exception. With Christie’s International Estates on board, we further our exposure internationally.

International luxury real estate shoppers can now search by "Private Island" and "Villa" on christiesrealestate.com. This brings a new total of 11 property types and 16 lifestyle search options now available on the site. 

Believe it or not, we have found that one of the leading property searches in the Caribbean luxury real estate market is for "Private Islands", and with such amazing islands as Parrot Cay,Ambergris Cay,Dellis Cay,Pine Cay, and West Caicos, the Turks and Caicos has its fair share of private Islands and luxury Villas.

If you have been "labouring" under the impression that our economy is bad right now. Not so! the WSJournal points out that the super high-end real estate market, at least, is doing just fine, which is a relief. There's never been a better time to purchase a luxurious private island that could hypothetically be your very own private domain! Just ask Johnny Depp.

Perhaps the best-known private-island compound is magician David Copperfield's 700-acre resort Musha Cay, which is spread across 11 islands... Mr. Copperfield describes it as a place where he can "create magic in three dimensions" and where a stay can include an optional, interactive treasure hunt where he says guests are immersed in a "living movie." (Dozens of actors and illusionists are imported to play pirates.) Recent additions to the resort include trained macaws that pick up Musha Cay's refuse and a "secret village," opening soon, where visitors can interact with tame monkeys.

The good thing is that you don't have to buy an entire island to get the benefits of the private island lifestyle. Parrot Cay, one of the Turks and Caicos Islands most beautiful islands assures a Paparazzi free retreat for the rich and famous. Many very well known "A-List" stars actually own properties on Parrot Cay, with many of the worlds "Who's Who" traveling to the island for well deserved vacations away from prying eyes and superior service. 

Katherine and I spend a great deal of our time on all the private islands in the TCI, both for business and pleasure.. In fact, Katherine and I were married at Keith Richards House on Parrot Cay, walking down the aisle (beach) to the Rolling Stones "Sympathy for the Devil", an awesome experiance.

Private Island life is a magical experience and one we recommend to anyone looking for that perfect piece of paradise.

Visit Regency International Estates at:www.THEturksandcaicos.com

by Michael Stoler

The world's most wealthy individuals continue to purchase luxury residential property in the key global cities, according to a report by Christie's International Real Estate.

The firms International Luxury Residential Report showed that buyers' optimism is slowly increasing with more than 67% of its agents and affiliates reporting an increase in activity in the first eight months of 2011 when compared with the same period last year.

Lack of luxury property in key markets is driving up prices especially in cities such as London, Paris, Hong Kong, New York and Beverly Hills.

More than 87% of the purchasers continue to paying cash. Christie's report that the very best property in the world's most desirable locations will sell whatever is happening in the world economy and property is still seen as a safe haven when stock markets and equities are more volatile.

Prices for luxury properties are at record highs in Europe. Giles Hannah, director of sales for Christie's International for Europe, expects new price records to be set for London property in the coming months. Because of the scarcity of really luxurious real estate in London, he predicts that prices will soon exceed 6,000 pounds per square foot. Mr. Hannah said "Like a fine wine or an old master, an exceptional property is bought to be enjoyed and will always find a buyer. Scarcity is driving the market forward; there are only a finite number of properties at this end of the market. The top buyers are from Russia, China and the Middle East.

Savills Research reported that the top ten cities real estate values have increased 10% in the first six months of 2011, according to the firm's Research global billionaire property index report.

The real estate firm reported that Hong Kong rates in value terms with property worth 6,700 pounds per square foot, an increase of 83% from December 2005 to December 2010 and an increase of 10% increase of top of that to the end of June 2011.

Tokyo ranked in second place with a price per square foot of 5,190 pound, followed by Paris at 3,270 pounds and with London at 3,090 pounds per square foot.

Prices are pricing throughout the world with Russia in the fourth place where values have seen values rise 110% from December 2005 to 2010. Singapore has seen a 144% and 16% rise, while Mumbai has increased 138%.

Overall the index shows that the homes of the super rich in the top 10 cities worldwide rose by an average of 10% in value in the first six months of this year. This compares to average price growth of 6^ for a range of ordinary properties in the same cities and follows growth of 65% in billionaire properties over the previous five years.

In general terms, the "old world" super prime markets have recorded lower price growth but, for now, dominate the top half of the table in terms of overall price. London, Paris and New York are now beginning to look good for the global super rich, as they offer the relative price stability associated with more mature, "old world" markets, coupled with political stability.

One of the hottest locations on the planet.

You will find there’s common myth in business circles that investing in real estate property is riskier as compared to dealing in bonds and stocks. But it is not very the actuality as property investments have been typically the most popular technique of savvy investors for more than 50 years now leading them to be multi-millionaires and even billionaires from intelligent dealing in property. The possibilites of making substantial amounts of income is there in property investments but it really is not all roses, like all investments property has it is pitfalls like the fact that you simply can’t ever be sure you will find good assets on the market.

The current bursting of the property bubble made paupers of those that missed it coming and there were lots of who fell target to the great fall in the market. With the future not looking so shiny in the marketplace for a lot of years to come, sensible investors have seen a one-time only chance in the kind of the Turks and Caicos islands. On the surface, it seems to be the ideal choice. Idyllic location, not an incredibly popular tourist attraction yet though there appears to be marketing efforts being made to change this. Right now there are already around 200,000 vistiors annually which is a pretty decent number but it is set to rise dramtialy over the next five to ten years.

Because of the lack of tourism real estate investment is being snapped up buy investors quickly and at bargain prices. The best thing abotu Turks and Caicos is that the only 8 out of the 40 isalnds are populated and Provdenciales makes up the majority of the population. With so much free land available, there will be a host of development opportunities though naturally the local government will not allow any business to spoil the scenic beauty of the islands.

When you purchase real estate investment property on the Turks and Caicos islands, it belongs to you which guarantees you are able to rent out the accommodation to interested parties. Over the few years this location is set to be one of the hottest locations on the planet and so the owners by then will be able to call the proces themselves. It should be noted that landlords of these properties are responsible for paying the mortgage and maintenance costs. However, the zero tax rate enjoyed by property owners in the Turks and Caicos islands is a real boon and the rent charged to visitors should easily cover mortgage repayments and generate some extra profit on top.

Those who will be interested in renting out property on these beautiful islands are likely to be wealthy business people so there should be no worries about bringing in bad tenants who cause damage. So now you can see that investing in rela estate is bound to make you alot more money as compared to stock and shares because property values are set to increase should you determine to sell and renting the property to tenants is an ideal way of generating a respectable second income in the meantime.

Be smart like the other investors look into proeprties for example Turks and Caicos real estate and make your offer beofre everyone else does.

Made up of over 40 islands and small cays,our islands are situated about 575 miles south-east of Miami and 90 miles north of the Dominican Republic.

As being a British Overseas Territory while using US Dollar as the standard currency, luxury real estate investments are ideally suited.

The Turks and Caicos Weekly News

Tuesday, Oct 25, 2011

By Gemma Handy

A TWO BILLION dollar luxury development – featuring two hotels, 35 villas and plush condos – is heading for North Caicos.

The Greenwich Beach Resort & Spa is the latest in a string of forthcoming projects recently announced, sparking hopes that TCI is on the cusp of a financial comeback.Proposals for a European style-resort in Grace Bay, a new hotel in Grand Turk, and the revival of the long shelved West Caicos project are also causing a stir.And they’re all hot on the heels of a healthy surge in tourist numbers.

From home theatres to wine cellars, interior water features to a full service spa, Greenwich Beach bosses hope to attract an abundance of well-heeled clientele to North Caicos.The scheme will be spread out over 50 gated acres on the north coast of the isle, accessible only by golf cart.Developers plan to maintain the ‘garden island’s’ pristine beauty with a host of eco-friendly initiatives including limiting boats into the lighted lagoon to electric-powered vessels only.Up to 35 custom estate homes, all with either beach or lagoon frontage, will be created along with high-end condos, two five-star hotels, three restaurants and a marina.

With Provo’s new longer runway now complete, paving the way for direct transatlantic flights, plans for a 250-300 room European-style hotel in Providenciales are also on the table.

Complete with conference facilities, it is destined for a spot near the Seven Stars resort in Grace Bay and has already attracted backing from advisory council members.
A government spokesman said: “It would mark a diversification of the tourist sector from a condominium based model and into another distinct area that could attract a new market.”TCInvest is to lead negotiations with the developers, in consultation with the Governor’s office.

Earlier this month, Grand Turk pastor Chad Archbold briefed the consultative forum about a blueprint for a large hotel under discussion for the capital island.

Meanwhile, plans to restart work on West Caicos are gathering momentum. Governor Ric Todd was due to present a consultation document with details of the scheme to the advisory council this week. It will then be released to the public for further input.The Molasses Reef project has been on ice since September 2008 following the collapse of Lehman Brothers.The luxury 125-room hotel and 30 condominiums were 75 per cent complete with most of the condos already sold, when the US investment bank filed for bankruptcy listing debts of $613bn, the biggest in American history.Work on the exclusive Ritz Carlton-branded scheme, one the largest projects the TCI has ever seen, had been underway for two years.

The previously uninhabited 11-square mile island features some of the region’s finest beaches while the surrounding reef is said to be the final resting place of Columbus’ Pinta.
It is hoped the scheme’s resurgence, along with the other developments in the pipeline, will kickstart TCI’s listless construction industry and spawn a plethora of new jobs.
This month Tourist Board figures revealed TCI had seen an 18 per cent rise in visitor numbers for the first half of the year, compared to the same period last year.

Between January and June, the country welcomed in 222,596 visitors. A campaign to lure more visitors to the sister islands too is now underway via eye-catching billboards and media advertisements.

www.theturksandcaicos.com

By Vivian Tyson - SUN Senior Editor

Government is awaiting a consultation document from someone who has been described as ‘a serious investor’ interested in the unfinished West Caicos resort project, which it said should aimed at highlighting the benefits for the economy and the people of the TCI.
Governor Damian Roderick ‘Ric’ Todd, who made the disclosure at a post Advisory Council press briefing at the office of the Department of Disaster Management and Emergency on Providenciales Wednesday, October 19, said also that a package to encourage the development is also being worked on.

“There is a proposal by a serious investor to take over and complete the West Caicos development, and what I have decided is that, there will be two things will happen. First, the developer will produce a consultation document setting out what it is they plan to do on the island and the benefits they feel will come to the people and the economy of these islands. And that will then be discussed among everyone.“Second, we are negotiating with the developer a suitable package which will encourage that development to take place, subject to the consultation being favourable and subject to us agreeing the right terms and conditions, I would like to see that development go forward,” Governor Todd said.
Governor Todd told the media that he took a trip to West Caicos last week to see first hand the calibre of structure that is laid their and was impressed with the architecture and the nature reserve, saying that it has a great deal of potential of income generation.
The Governor, however, could not give a timeline as to when the go ahead would issued for the development to continue saying it is based on the paperwork to be and the package being worked on.

“We are waiting on the developers to present us with their consultation document. I was hoping to have it in time for the meeting today (Wednesday), but they have not yet completed it. So, I think we would move as fast as the developers are able to move,” Governor Todd said.

Recently The SUN reported that a number of overseas investors have expressed their interest in resuming the stalled Molasses Reef Ritz Carlton development on West Caicos, and based on interest expressed, the project could soon come back on stream.

At the time of its development the property was being marketed as:
•    A 125 sea-swept suites and 75 private, Ritz-Carlton branded Island Villas;
•    Three restaurants created by renowned Chef Gray Kunz;
•    A full-service spa, offering indigenous treatments;
•    Ocean-front guest suites with private terraces, overlooking more than a half mile of pristine Caribbean beach;
•    A natural wildlife sanctuary, two national parks; and
•    An array of archaeological and cultural sites

Posted Oct 25 2011