The Turks & Caicos Islands Government (‘TCIG’) has announced a Stamp Duty Waiver Policy (‘SDWP’) that will run for the next 90 days and is available to all eligible applicants that transact on a property valued up to $2M between Monday the 21st of September through Sunday the 20th December 2020. Wonderful news for those looking to purchase property in Turks & Caicos, or those wishing to sell their properties within this price bracket. The tiered SDWP rates are an important motivator for the market during this time and are further explained below:
Purchasers looking to purchase within the next 30 days (until Tuesday 20th October 2020) receive the greatest benefit of a 75% reduction in Stamp Duty. Purchasers looking to transact between Wednesday the 21st October and Friday the 20th November would benefit from a 50% reduction, and those looking to purchase between Saturday 21st November and Sunday the 20th December would receive a 25% Stamp Duty reduction.
The TCIG’s SDWP applies not only to homes up to $2M, but also on land purchases up to $2M and off plan new development purchases whereby the land is valued at under $2M. Whether you are looking for something ready built, a future investment, or to bank some land for a rainy day here is a list of 10 purchase opportunities that benefit from the SDWP:
1. Bamboo House
“We have enjoyed the unforgettable sunset views over tranquil Taylor Bay and our ritual beach walks. We also love our small and secure community known as Sunset Bay and find it a real gem of a neighborhood.”
Owner of Bamboo House
Bamboo House priced at $1.95M is a 5 bedroom property in the beachfront community of Taylor Bay that epitomizes an island home, with sunset-facing views ocean views from the pool deck and water views over Chalk Sound National Park from the front entry. Built in 2014, the 4 bedroom Main House with 1-bed Guest House benefits from a large swimming pool and easy beach access to exclusive Taylor Bay beach. Did I mention you also have a private tennis court at your disposal? Oh wait…and there is also a .66 acre vacant beachfront lot priced at $1.35M, and offered separately for sale. Whether you’re planning an immediate move or have dreams of building your own beachfront home one day, this is an offering with appeal.
2. Beach Enclave North Shore Phase 2
Beach Enclave North Shore Phase 2 is a contemporary dream that sits next to, and shares amenities with Beach Enclave North Shore, the first of the acclaimed Beach Enclave properties. Now expanded to three villa enclaves in three different locations around Providenciales: North Shore, Grace Bay (fully sold out), and the South Shore on Long Bay beach (which offers an interesting mix of built standalone villas, Beach Houses – with 1 left that also qualifies for SDWP – and a boutique Club with a select number of private condominium suites), Beach Enclave is defined by tailor-made service and an increasingly contemporary aesthetic. Brazilian architects Jacobsen Arquitetura have created standout designs for phase 2 and the good news is that every home in Phase 2 qualifies for the SDWP.
3. Dolphin Lane
Set atop a hillside in Long Bay, Dolphin Lane is a family home with everything you need, from a swimming pool, to a trampoline, a herb garden and more, and that’s just scratching the surface with this unique home ownership opportunity. Inside, the home is even more impressive, with mill work detail throughout, a custom kitchen and 4 bedrooms plus a media room. French doors open out to 360 degree views over Grace Bay. At $1.9M Dolphin Lane represents a rare opportunity to own a newly completed and custom designed family home that requires no renovation! Put those drills down and narrow in on this spectacular spot.
4. Sugar Reef
Gated? Tick. Ocean Views? Tick. Swimming pool? Tick. Large lot? Tick. Sugar Reef Villa, at approximately 4,000 SF, sitting on .99 of an acre overlooking the ocean, is a 4 bedroom home focused on relaxation. This is felt throughout every space, with all bedrooms benefiting from ocean views and an entire upper level dedicated to an open concept living and dining area plus kitchen that also looks out to the ocean. Shaded and uncovered entertainment and relaxation areas surround the pool and at $1.375M this property is offering so much benefit for your investment.
5. Rock House
“Rock House is perfectly positioned to meet the growing demand from buyers seeking their own retreats where privacy, space, high quality of design and service are likely to be even more sought-after”
Nina Siegenthaler Vice President of Turks & Caicos Sotheby’s International Realty
With 28 homes under construction, Rock House is moving rapidly towards completion and is on track for opening in Fall 2021. Rock House is designed by Coast Architects and brought to you by Grace Bay Resorts, Operator of Grace Bay Club, Point Grace, West Bay Club, The Residences, The Dunes and soon to be South Bank. Only 6 homes remain in phase 1 of Rock House, all of which qualify for the TCIG’s SDWP. Does an oceanfront Studio for $700K appeal to you? How about a Two Bedroom Oceanfront Home for $1.895M or Elevated Ridge Home for $1.995M? How about access to a virtually private beach? An oceanfront restaurant, fashioned after the resort properties of the Mediterranean? A 70 foot swimming pool?
At $1.795M in the prestigious community of Leeward, Villa Rise, offers an urban feel to its traditional Caribbean surrounds. Boat dock and access to Blue Haven Marina are two benefits of this 4 bedroom newly built contemporary home. Another is the private International School of the Turks & Caicos, being located a stone’s throw away.
7. South Bank
South Bank, the latest development from Windward, the team behind Blue Cay Estate and the Peninsula at Emerald Estate, is a residential resort and marina development along Long Bay beach. The first of its kind, South Bank’s homes range from 3 – 6 bedrooms and all enjoy a unique relationship to water. The Lagoon homes offer a peaceful beach front location, some with private docks. The Ocean Estate homes are larger and occupy an oceanfront position. Soft contemporary architectural designs from London/TCI based Blee Halligan, boat concierge services, an affiliated marina, tennis court, restaurant, spa, management and operation from Grace Bay Resorts and easy access to the ocean for outer island exploration, are a handful of the winning features of South Bank.
8. Bianca Sands
Bianca Sands 301 is offered at $1.65M and occupies a supreme position overlooking Grace Bay beach. This rare high-level 3 bedroom corner unit is conveniently located in the Regent Village, comprised of retail shops, a coffee shop and multiple restaurants. Miles of powdery white sand await, just outside your sun-soaked terrace.
Overlooking West Grace Bay beach and sitting atop a 45 foot ridge, Coral View Villa offers a lot of house with 4,505 SF and 3 bedrooms for its list price of $1.375M. If you’ve been keeping an eye on this property or hoping to move into a bigger house, take a closer look now – this may just be the moment you have been waiting for.
10. The Sands
The Sands is located in the heart of Grace Bay, the No.1 beach in the world. Tastefully furnished and enjoying a penthouse position, 3309.10 enjoys warm easterly sea-breezes and direct ocean views, as well as flexibility for rentals (dividing up into a 2 bedroom and 1 bedroom for multiple rental options). 3309.10 isn’t the only unit available for purchase that qualifies for the SDWP, take a look and start planning your purchase today.
Condominium Opportunities Under $2M
By Courtney Chapman
22nd September 2020
Turks & Caicos Real Estate | Caribbean 