Rock House is the next generation luxury resort and residential development in Grace Bay Resortsโ family of successful hospitality brands. The operations team enthusiastically prepared for the opening of the resort with trial stays for owners and select guests to support the training phase and to put the finishing touches in place for the first vacation guests to arrive. Rock House is experiencing vast interest from the luxury travel market with advance bookings ahead of forecast. Guests will experience the 5-star luxury from the initial welcome to the beautifully furnished suites and full-scale amenities provided. The center of attraction at Rock House is its dramatic, secluded beach, and the iconic 100 ft infinity pool sitting proudly upon an oceanfront cliff, lined with sophisticated daybeds, built in cabanas and poolside sanctuaries that will feature food and beverage service and a signature stone lounge set on the waters edge. Upon the hilltop overlooking it all is the restaurant and bar, spa, fitness center and arrival pavilions, each offering a 180-degree view of the Atlantic Ocean and Providenciales.
Take a sneak peak at the newly opened Rock House Turks & Caicos!
Turks & Caicos Real Estate continues to soar as 2022 is shaping up to be another strong year with buyer demand remaining solid in a fast-paced market with a lot of moving targets. Competition for desired properties is high with many listing agents managing multiple offers and off market properties selling without coming to market. Buyers know what they want, and sales agents are digging deep to find an appropriate investment or vacation home for their clients and customers.
Construction throughout Providenciales, even without large scale vertical development, at this time, is at an all-time high with new homes coming out of the ground in all community areas and stretching to the out islands. The biggest issue for builders and developers is trying to contain ever increasing construction costs hit hard by supply chain and inflationary issues.
In the forefront with new construction is the implementation of renewable energy which seems to be a top selling feature for new developments on island. Notable developers are on board with Renu Energy TCI, a renewable energy company that has also experience tremendous growth over the past three years with the installation of solar panels, tesla power walls and electric vehicles and accessories.
Fortis TCI has also been at work transforming the TCI energy landscape with the introduction of solar power programs to take advantage of this ample resource, C.O.R.E (Customer Owned Renewable Energy) and U.O.R.E. (Utility Owned Renewable Energy), with the latter program contracting several companies. The EV and charging station pilot project which was introduced in 2018 has started to catch on with several electric cars in use throughout and charging stations popping up across the island.
Leading the way in energy efficiency and various forms of renewable energy in Turks & Caicos was Green Revolution which was established in 2011. Since their formation the company has completed many projects both residential and commercial in scale, throughout the region. These projects are saving residents of the Caribbean hundreds of thousands of dollars each year.
With sustainability on peoplesโ minds and in the news, we are proud that our country has embraced the importance of these initiatives and developed a plan for our beautiful by nature islands. The recent signing of the TCI Climate Change Charter which took place on Earth Day this past Friday, April 22nd during the 1st Annual Climate Change Summit entitled โOnly One Earth โ Invest In Our Planetโ, the private and public sectors came together to take action with this roadmap as a guide to help protect and safeguard our environmental assets.
To continue reading, download the full report with one of the links below.
Climate Change Message from the Turks & Caicos Islands Minister of Tourism, Hon. Josephine Connolly. Spotlight Productions captured the Minister of Tourism’s Climate Change message leading up to the Turks & Caicos Islands’ first Climate Change Summit.
The Climate Change Summit, entitled “Only One Earth – Invest In Our Planet”, was a full day event with guest speakers and information presented as TCI Government Officials, visiting nations such as Bermuda and BVI and community members were in attendance. During the summit, the signing of the TCI Climate Change Charter took place which involved the Minister of Tourism, Hon. Josephine Connolly, and representatives from Fortis, The Reef Fund, TCIHTA and Provo Water Company. As a nation we are proud to see the private and public sectors come together to take action with this roadmap as a guide to help protect and safeguard our environmental assets.ย
The Edward Gartland Youth Centre hosts its 7th Evening of Art. A star studded charity art auction featuring highly talented local and international artist. Event will take place 2nd April 2022 at The Shore Club Resort. Join us for an unforgettable night of art and entertainment in collaboration with our sponsors: โขThe Shore Club โขTurks & Caicos Sotheby’s International Realty โขThe Wine Cellar โขFinishing Touch
All proceeds to benefit the Edward Gartland Youth Centre. Open bar, canapes, food stations, & live entertainment included! ๐๐ฒ๐ ๐๐ผ๐๐ฟ ๐๐ถ๐ฐ๐ธ๐ฒ๐๐ ๐๐ผ๐ฑ๐ฎ๐ ๐ฎ๐ ๐๐ต๐ฒ ๐ณ๐ผ๐น๐น๐ผ๐๐ถ๐ป๐ด ๐น๐ผ๐ฐ๐ฎ๐๐ถ๐ผ๐ป๐ Edward Gartland Youth Centre โขThe Wine Cellar โขTurks & Caicos Sotheby’s International Realty โขUnicorn Bookstore โข Isle Help App
Saturday, April 2nd, 2022 – 7 to 10:30 p.m.
The Shore Club, Long Bay
With our very own
Bianca Harvey-Joseph aka Queen Bee
Auctioneer for the event!
Special Guest
Anne Scardino, Author of “A Tangled Affair”, From Philadelphia to Turks & Caicos. A fiction novel filled with suspense and intrigue. Copies for sale at the event with all proceeds to benefit the EGYC. Thank you Anne and to all of the Artists for sharing your passion by donating your valued time, talent and effort to this worthy cause. Enjoy the ‘Meet the Artists’ video above!
International Artist, Bradley Theodore
On the LIVE Auction will be Bradley’s most recent collaboration. The LEGO Dots campaign, a limited edition series of bottles for HAIG Whisky and David Beckham. Thank you Bradley!!
Developer John Fair, Acting Governor Anya Williams, and Premier Washington Misick.
The Strand, a $210million residential resort community development, is the latest addition to Turks and Caicos Islands high-end luxury brand of properties.
The ground-breaking ceremony for the development, which will be located on 2,230 feet of pristine shore frontage on Cooper Jack Bay, in Providenciales, took place on Friday, March 25th, 2022.
Following the announcement of the new development in late 2020 and a very successful sales launch in 2021, the developers have received all permits and approvals and are underway building out single-family homes and several community amenities, including the marina and beach club. The project is expected to be completed by 2025.
Among those attending the ceremony were The Strandโs developer and Managing Director John Fair, Her Excellency Acting Governor Anya Williams, Premier Washington Misick, Minister of Education, Rachel Taylor, Minister of Tourism, Josephine Connolly; Minister of Home Affairs, Otis Morris, Minister of Health, Jamell Robinson, MP Samuel Been, and other dignitaries.
The Strand, Turks and Caicos offer owners and guests an unmatched luxury experience with a limited collection of beachfront villas, custom residences and home sites.
The Strandโs full resort-style amenities, five-star services, and array of community programming will bring something truly unique and new to the Turks & Caicos.
New residences under construction, walking distance to the heart of Grace Bay and the beachfront!! Prices from $275,000 to $605,000.
Z-ONE is a thirty residence, multifamily investment and residential opportunity located in Grace Bay, Providenciales. With one of two 3-story buildings nearing completion, and the second building already well under construction, Z-ONE offers qualified investors the opportunity to acquire an investment property or full-time residence in one of the tightest rental markets in the Turks and Caicos Islands. Located in The Village at Grace Bay, the residences are conveniently situated just inside the western entrance, approximately a quarter of a mile from the heart of Grace Bayโs amenities, shops, restaurants, and bars. Only a few minutes walk to its famed beaches and in the neighbourhood of the luxury resorts along Grace Bay. Positioned on a sizable 1-acre site, the property consists of two stylish, modern garden-style apartment buildings comprised of six studios, twelve 1-bedrooms, and twelve 2-bedroom residences, with several commanding an ocean view. Each building is fitted with quality doors and windows and equipped with elevators. Z-ONE Residenceโs common area amenities include gated entrance, car parking, pool, poolside restroom, gym, common area BBQ, external area security cameras, and emergency backup generator for the exterior common areas. The interior specifications offer top-of-the-line brands, boasting Kohler faucets, fixtures, fittings, and hardware, large format porcelain tile flooring, Caesarstone kitchen countertops and backsplash, and custom-milled cabinetry throughout. Specifications of hardware, equipment and HVAC are best-in-class. Tankless water heaters, wireless doorbells and radio frequency water meters are amongst many thoughtful extras evidencing that the project is built for the long term.
The Somerset On Grace Bay is an elegant and impeccably built condominium development located on a prime position on our award winning Grace Bay beachfront. Originally completed in 2007 it has maintained its splendor, gracing the shores of the beautiful beachfront and welcoming back repeat clientele through the years. This full-service resort appeases the most discerning of owners and guests and has become a popular condominium choice for real estate purchasers this past year, as noted in the โYear In Review Market Report 2021โ.
Trafalgar Terrace under the arched pavilion serves as the grand entry point to the resort amenities, such as the signature lap pool, infinity edge pool, and beach beyond which are the center of attraction surrounded by the residences. The resort offers luxury, residential accommodation in a few options; The Cottages which overlook the Croquet and Event Lawn, The Stirling House Villas overlook the resort pools, and the stately Oceanfront Estates. There are only 16 Oceanfront Estates within four buildings whereby each residence expands the entire floor on each level in a lavish square footage of exquisite details including marble flooring, granite countertops, crown and base molding details, custom gourmet kitchens and the finest of fixtures and fittings featuring the charm and warmth of Caribbean British Colonial dรฉcor.
We welcome you to view our listings at The Somerset On Grace Bay.
Cottage 1BStirling House E206Stirling House 203Welwyn Estate D-102
2021 Turks & Caicos Real Estate – Exceeding Wildest Aspirations!
The headline for our 2020 Year End Report read: โ2020 Turks & Caicos Real Estate Market Closes Like a Champโ. Then, with each quarterly report throughout this past year, we witnessed record breaking sales and it became clear that we were heading for a historic year. And what to say about a supernova year where our annual sales volume increased 158.5% from $290M to $751M!! Where Single Family Homes accounted for a whopping $369M, up 137% over last yearโs $155M, with average prices up 30%, from $1.72M to $2.25M. And where Condominium sales, led by the completion of The Ritz-Carlton, improved by 282%, from $59M to $225M, with a 33.5% increase in average price from $1.03M to $1.38M! With regard to the Condominium sector, we went well over a decade without a new Grace Bay vertical development, so The Ritz-Carlton fulfilled a huge gap in the market. With other projects in the pipeline, including Point Grace Phase 2 by Grace Bay Resorts, The St. Regis by the developer of The Ritz-Carlton and perhaps the long-awaited Andaz Residences, we should see some consistent Grace Bay condominium development. Demand continues to be frenetic for quality upper-level beachfront units with owners holding dear to their places. Days on market are short with high elasticity in price for the better inventory. The new projects will help to fulfill over a decade of pent-up demand and increase its share of all sales beyond the existing 30%. From Trophy properties to managed and stand-alone villas, Single Family Homes owned the day, accounting for 49% of the total market. Significant sales included Turtle Tail Estate at $20.25M, Coral Pavilion at $15M, Beach Enclave Grace Bay at $10.2M, Villa Chill at $10M (all Listed and Sold by TCSIR) and Villa Salacia at $16M (Sold by TCSIR). Several off market properties, at significant price points, transacted that were not recorded on MLS. New Development sales posted on MLS accounted for only 18% of gross sales volume in this segment, with most New Development sales still pending as the aforementioned figures do not account for the $460,000,000 in Pending and Conditional transactions on our MLS, led by South Bank, Rock House and The Strand. Raw Land sales also fared well, with a 115% year-on-year improvement, from $63.7M to $137M and a 54% increase in average price from $370,807 to $573,009. So, what to say, beyond wow! The colossal numbers aside, TCI continues to enjoy the excellent fundamentals we so often have written about, where quality, ease of access and use, freedom of movement and open outdoor space are treasured. We envision a strong 2022 ahead, albeit with some inventory restrictions, featuring a healthy balance of new development condominiums and villas, and perhaps some traction on our private islands. As always, we thank our team, clients, customers, industry colleagues, and the broader private and public sectors for their amazing adaptability, tenacity, and grace in navigating the Covid world. We never dreamed that through all of the significant challenges, we would exceed our wildest aspirations in 2021.
Building on the record breaking first half of the year, Q3, historically our slowest quarter, gained a whopping 319% over Q3 last year ($158,905,323 vs. $37,891,750), with year-to-date sales volume up over 150% over the first three quarters of last year ($496,710,829 vs. $198,330,657). These numbers represent historic events, of course, and with Canada and other countries now open for travel, we expect a strong fourth quarter with the caveat that all this great sales volume is resulting in constriction of inventory.
Led by a slew of trophy sales, and luxury villas (managed and standalone), single family homes have accounted for 56% of the total market y-t-d ($280,874,064 with an average price of $2,246,993) up 161% and 17% respectively. Condos account for 19.8% of the total market ($98,745,262) up 196% y-t-d). This number will normalize as new development condos at Ritz Carlton Grace Bay and Rock House are posted as closed. Raw land sales also displayed strong performance and have accounted for 21% of the total market and is up 123% year-on-year with an increase of 45% in average price from $397,363 to $576,371. Significant sales in Q3 included Coral Pavilion $15M, Footprints on the Beach $8.1M, Beach Enclave North Shore V4 $5.5M, Beach Enclave Long Bay V6 $5.45 and Hawkโs Nest Villa $2.77M.
Turks & Caicos Real Estate Sales Continue at a Breakneck Pace!
The TCI real estate market is seemingly โtoo hot to handleโ as we witness yet another record-breaking quarter in sales volume along with pending/under construction sales not recorded within this amount! This first half of the year has just closed out with a staggering $328M in sales volume which is normally TCIโs yearly sales volume โ in a very strong year! Thatโs a 105% increase over last years 2nd Quarter with an average price increase of 26%. All segments of the market saw increases contributing to this incredible spike in sales. Significant sales noted in this 2ndQ were, Turtle Tail Estate $20.25M, Villa Salacia $16M, Casa Tremer $7.995M, and The Estate at Grace Bay Club G504 $5M.
The tourism industry is also witnessing record numbers in occupancy during this time as Turks & Caicos continues to flourish and to fulfill its destiny as a leading and premiere upscale destination in the Caribbean. The resilient Turks & Caicos real estate and tourism market has sustained economic growth and real estate sales for the past eight years, and we expect to see continued growth, with new and exciting projects in the pipeline. To continue reading, click link to download full report.
Turks & Caicos Real Estate | Caribbean 