March 2, 2015
Turks & Caicos Sotheby’s International Realty makes the top significant sale for Sotheby’s International Realty brand posting a $23M sale of a North West Point parcel in December 2014. This significant sale was also celebrated as one of the top sales for the for the entire year. Links to both sales lists below.
Link to Dec 2014 Significant Sales
Link to Best of 2014 Significant Sales
Tune in to HGTV as House Hunters International discovers Salt Cay, Turks & Caicos – a charming island southeast of the main island of Providenciales. Steeped in history this sleepy little island is pure relaxation in a rustic setting.
February 13, 2015
MIAMI — The Turks and Caicos Islands is the fastest-growing tourism destination in the wider Caribbean region, Caribbean Journal has learned.
The Turks and Caicos Tourist Board reported a 50 percent increase in stopover arrivals to the archipelago last year, by far the highest of any destination in the Caribbean in 2014.
That was a total of 435,475 stopover arrivals in 2014, up from 290,587 stopover arrivals in 2013, according to the data.
In an interview with Caribbean Journal, Turks and Caicos Islands Tourist Board Director Ralph Higgs said the rise was due to a number of factors.
“I certainly think not least about them is we had a good push from Mother Nature — unseasonably cold weather up North was a contributing factor,” he said. “But I also think perhaps the biggest contributing factor was accessibility to our destination. We have very good airlift from most of our gateways in North America, and we’ve had additional lift from JFK and Boston. And there’s a stepped up co-op marketing campaign with the Tourist Board and some of its private sector partner. And we’ve increased our co-op relationship with many of the major wholesalers that sell Turks and Caicos. I think that they are the contributors to what is happening here.”
Higgs told CJ that the rapid growth was in line with several years of double-digit growth for the TCI, even in the wake of the financial downturn.
“We had one of our highest years in 2011,” he said. “But we were experiencing double-digit growth even during the height of the crisis — and while that growth slowed, we didn’t see any decline in growth there. I think that’s because of, generally, the way the destination has been positioned. The clientele that patronizes [the TCI], they tend to be a little more recession-proof.”
The next-fastest-growing destination in the Caribbean 2014 was Grenada, which posted growth of 18.4 percent last year, according to an analysis by Caribbean Journal.
So how does the TCI build on this level of growth?
Higgs said a major priority would be continuing to diversify the country’s source markets, and by focusing on improving what tend to be slower months for the region like August, September and October.
And that’s borne out in the numbers.
The Turk and Caicos saw one of its biggest single improvements last year in typically-slow October, when it welcomed 36,399 tourists — a whopping 131.6 percent higher than October 2013.
“The greatest periods of growth were the traditionally slow months for the region,” he said. “That supports a strategy that we continue to try and introduce to diversify our source markets, and look very closely at markets that have opposite seasons to North America. And I think we will accelerate our push in that direction. And if we can grow the summer months here then we can expand on that growth.”
He also said the TCI was working to expand its hotel product beyond the traditional hub of Providenciales to places like South Caicos, Middle Caicos, Grand Turk and Salt Cay.
“We are now concentrating on shining the spotlight on our sister islands,” he said. “If we can bring those destinations under the spotlight and people see them for what they have to offer, there may be some real possibilities for continued growth.”
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By By Alexander Britell – Caribbean Journal
PARROT CAY ANNOUNCES NEW BEACH HOUSES AND PARTNERSHIP WITH TURKS & CAICOS SOTHEBY’S INTERNATIONAL REALTY
Celebrating its 16th year of award-winning operation, PARROT CAY by COMO remains the enduring favorite Caribbean retreat, offering the perfect balance of service, comfort and exquisite natural beauty – all within just 3.5 hrs from New York City and 1.5 hrs from Miami. Parrot Cay is now in full bloom, the benchmark for personalized service, iconic island style, and yoga and spa retreats in the entire region. Link to more information.
A WEALTH OF INSIGHT… The Wealth-X and Sotheby’s International Realty Global Luxury Residential Real Estate Report was designed to provide valuable insights into the ultra high net worth population’s appetite for luxury residential real estate around the world.
The 2014 Turks & Caicos real estate market went out with a bang, on the strength of a great December of production, highlighted by the sale of a major TCSIR listed development parcel in North West Point for $23M. This strong finish helped lead a 20% $ volume increase over last year ($210M vs. $174M) with a 17% increase in average price. Passing the $200M benchmark is a sign of market health and provides a strong basis for future growth once new development fires up within 2015.
Slow Down in Turks & Caicos Islands
An increased demand for second homes in a tropical setting has prompted developers and homebuilders to ramp up construction. Residents of the British-dependent territory enjoy legendary diving, snorkeling and fishing and a slower pace.
For the second time in 15 years, two of the most successful names in Turks and Caicos real estate development have formed an alliance.
The Hartling Group has named Turks & Caicos Sotheby’s International Realty (TCSIR) as the official broker for the Shore Club. The third luxury beachfront resort development for the Hartling Group, the $100 million Shore Club is now under construction on Long Bay beach.
Hartling Group CEO Stan Hartling, and Turks & Caicos Sotheby’s President Joe Zahm, first worked together in 1999, when Zahm provided consulting services on the design of phases two and three of Hartling’s first resort project on Providenciales – The Sands on Grace Bay.
The Sands became one of the first and most successful condo-resorts on Providenciales, and Zahm’s real estate agency (first established as Connolly Zahm Properties) became a powerhouse new development specialist before it morphed into its present form as TCSIR.
From that first occasion when Hartling and Zahm combined their collective expertise has come many years of professional respect and personal friendship between the two business leaders. “I’m really looking forward to working with Joe and his team again,” states Hartling. “We feel that combining our in – house abilities with Turks & Caicos Sotheby’s International Realty’s local, regional and international power, puts the Shore Club, and other Hartling Group developments in the optimal position to grow on our success. Joe, Nina Siegenthaler and their team have deep knowledge of the resort real estate model and luxury market, and have many tools at their disposal to penetrate the international market through the Sotheby’s International Realty Brand”.
Adds Zahm: “The timing is ideal for our team to represent the Shore Club to our international audience. Long Bay is now home to some of the finest completed and under-development estates in the Caribbean, with strong market demand and rapidly improving values. Just as Stan’s existing developments significantly exceeded expectations, so too will the Shore Club, with its highly evolved, lower density master plan, multiple swimming pools and restaurants, great condominium suites and incredible single family villas. Construction is progressing quickly and with over 60% of the condominiums sold, we look forward to introducing buyers to this exceptional opportunity to purchase a luxury condominium or villa within an expertly designed development in a private, exclusive setting”.
Beachfront condos at the Shore Club start from $1.4 million, and the six bedroom villas start from $5.5 million. The condos will be ready for occupancy in early 2016.
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Shared from The Shore Club Blog – November 13th, 2014
BEACH ENCLAVE is pleased to announce that construction has commenced on Beach Enclave, a premier, gated, beachfront, single family villa development combining private home ownership with tailored rental and management services.
Turks & Caicos Sotheby’s International Realty Ryder Cup
‘International Team Rules Golf Again’
The Provo Golf Club Ryder Cup, sponsored by Turks & Caicos Sotheby’s International Realty, saw The International Team defeat The North American Team in a resounding 20 to 16 victory over the two day event which had 48 golfers compete head to head in the match play format. The win increased the International Team’s overall lead to 15 vs. 7 in this 22 year popular competition. In fact The International Team seems unstoppable as it has won eight of the last nine years. Steve Ross and Andrea Todd captained the International win by jumping out to a large 8.5 to 3.5 first day lead in the best ball format on Saturday. North American captains Carol Brown and Mike Eddy rallied their team for Sunday’s singles play as their side matched the Internationals point for point over the first 16 matches before winning the day by a narrow 12.5 to 11.5 margin.
This year the Provo Ryder Cup enjoyed some of the best golf witnessed in the history of the matches as both the weather and the course provided the players with great conditions. All four captains did a tremendous job creating a competitive and fun tournament making Turks and Caicos golf and sportsmanship the real winners.
Although the tournament is a true team event it should be noted that the following 11 players played well enough to obtain 2 points by winning both of their matches; John Donatien, Chris Bruno, Graham Malyan, Will Shoreman, Lesley Stevenson, Andrea Todd, Agatha Delancy, Trevor Bromley, Rob Mensen, Mike Flynn, and Michael Goldberg. Many other golfers played outstanding golf as well but captured just less than 2 points which can be the very unusual nature of match play.
The Ryder Cup players and Provo Golf Club would like to thank sponsor Turks & Caicos Sotheby’s International Realty for making the weekend a huge success. The Provo Ryder Cup is eagerly anticipated each year and again kicked off with a spirited Wednesday pairings party where the Captains set the stage for all 36 matches over the weekend. The weekend didn’t disappoint with most matches quite close as many ended on the 17th and 18th holes. The one remaining question is yet again; “when will North America break the International Team’s amazing control of the Cup”.
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Press Release: October 27th/14, Dave Douglas. Director of Golf, Provo Golf Club
Turks & Caicos Real Estate | Caribbean 