Real Estate Sales for the First Quarter of 2012 Enjoyed a Significant Increase.
The number of properties sold in the Turks and Caicos increased by over 80 percent in the first quarter of 2012 over the same period in 2011.
This is according to a Market Analysis recently completed by Regency International Estates - The Exclusive Affiliates of Christies International Real Estate, and figures from the Turks and Caicos Real Estate Association (TCREA).
As can be seen from this market report, around $50 million of real estate has been sold in the first three months of 2012, almost three time that of the same period for 2011. Whilst significant by itself, the TCI has also seen the average sale price almost double for the same period.
We have also seen a significant increase in high value sales, with individual properties being acquired in the $6 million to $12.5 million range. Whilst many of these high value sales represent the private condo and villa sectors, we have now seen tourist related development properties change hands. This is extremely significant as this may result in new hotel projects for the Turks and caicos Islands, possibly as soon as 2013.
FULL STATISTICS CAN BE FOUND IN OUR NEW BLOG "TURKS AND CAICOS ISLANDS MARKET REPORT"