Turks & Caicos enjoyed a strong bounce back year in 2011, after struggling along a murky market bottom in 2009 and 2010.  The resurgence was led by the following factors:

• Booming tourism, up circa 18%, led by excellent air service
• Stabling government and local economy
• Better price value in the market
• Excellent inventory
• Drastically increased sales activity in all market sectors
• Inventory is down for the first time since 2008

The home/villa market nearly tripled in $ sales volume, and almost doubled in average price, led by the sale of Serendib Villa at $10.5M and La Dolce Vita at $6.25M (which was sold by our own Nina Seigenthaler).  There was strength throughout this sector as buyers re-emerged and sellers lowered prices to market levels.  We welcome you to view our Market Graphs by clicking in the links “Inside this isssue:” in our Market Report. 

Turks & Caicos Real Estate Market Report

by Joe Zahm, President, Turks & Caicos Sotheby’s International Realty