Tag Archives: Caribbean Real Estate

Turks and Caicos Real Estate – Year In Review 2023 YTD Comparison

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Led by Significant Sales, 2023 Market Puts Exclamation Point on Happy New Year!

Wherever you were for the festive holiday and New Year’s Eve celebrations we all had plenty to celebrate and be grateful for. The fireworks along the beach closed out 2023 in fine form with a celebration on Grace Bay and beyond that was the best we have ever seen! We look forward to 2024 as we take a brief look back in this report at our successful results within our real estate market.
 
Of notable mention are two significant sales, one a TCI record of $88.75M for a 36-acre commercial parcel on Grace Bay known as Cotton Bay which is set to be developed into a new resort property. Details to come later this year. The other highly significant sale was a residential record of $33.5M for Sole E Mare by our own Nina Siegenthaler. Both sales helped lead the market to a new record in 2023 of $782,412,342, slightly surpassing our previous 2021 high of $768,737,714. Another contributing factor to the high sales volume was the posting of completed new developments which are defined below and within the charts and graphs in the full report.
 
In the Single Family Home Sector, the completion of numerous high-end villas at Emerald Estate, South Bank and Beach Enclave North Shore, many of which transacted in 2021, along with very strong new sales at The Strand, led to a whopping 104% annual increase in dollar volume ($488M vs. $238M) and a 128% increase in average price ($3,642,014 vs. $1,590,987). Of course, the record resale of Sol E Mare sale didn’t hurt! The significantly higher average price signals a new day for luxury single-family residences attached to outstanding luxury brands. With other luxury and super-luxury villas in the pipeline and under development, along with occasional re-sales, we should continue to see this average price point hold steady and establish a new normal.
 
The Condominium Sector, with limited existing resale inventory, decreased by 37% in dollar volume (from $182,337,530 to $114,353,700) and in unit sales by 38% (151 to 93), with average price points remaining steady in the $1.2M range. We are, though, seeing some record $/SF sales of up to $1,500 per SF for prime re-sales, often with competing bids. It appears that condo life is again highly attractive as everyone tends to enjoy having resort amenities at their fingertips. Owners are also finding that rental returns and operational standards are excellent in this sector. We have new development launches at St. Regis, The Loren and others, along with strong pending business with ARC Sky Villas at South Bank and The Point by Grace Bay Resorts and we expect both projects to break ground in the first half of 2024, on the heels of the upcoming completion of the Reserve Villas at Rock House, the second phase of this already widely acclaimed new resort.
 
The Land Sector was propelled by the $88.75M sale of Cotton Bay exceeding 2022 numbers by 15% ($166,507, 799 vs. $144,375,399) with average price up 70% (from $575,241 to $979,458). Another one or two significant land parcels could potentially transact in 2024 maintaining this new normal for land sales volume. Purchasers and investors remain thirsty for all forms of vacant land, from beach and waterfront, ocean view, canal front, near beachfront, and commercial, with momentum building in activity on our out-islands such as North, Middle and South Caicos.
 
On a macro level, the end of 2023 signals a close to the “Covid Era”, where we have experienced unprecedented growth in the luxury tourism and real estate sectors and normalized at significantly higher levels of activity and values than ever before. Watch for our 30-year review next month as we examine the past three decades of development in the TCI and analyze data for clues to potentially forecasting future trends.
 
Special thanks to our valued industry and community partners. We look forward to the season ahead more immediately to our 9th Annual Art Auction for the Ed Gartland Youth Center, to be held Saturday, January 27th at The Shore Club. Please contact us if you would like tickets. We hope to see you there!
 
We also look forward to welcoming you to our new groundbreaking IMMERSION THEATRE ™, where all our amazing developments and properties can be viewed in virtual realty on a 9’ x 16’ wall screen. We will be providing further information on this game-changing technology later this month.
 
Happy New Year from all of us at Turks and Caicos Sotheby’s International Realty.

Do not hesitate to reach out to your sales professional to have a conversation about our market, and to assess purchase and selling opportunities!

Find Turks & Caicos Sotheby’s International Realty past Market Reports link here.

Link to PDF Report

Digital Flip-Book Link Here

About Turks & Caicos Sotheby’s International Realty
Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Villa de Ligera: A Stunning Home with 150 Feet of Ocean Frontage on Turtle Tail

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Boasting an unobstructed ocean view on Turtle Tail, Villa de Ligera is one of the few homes on Turtle Tail with its own private beach.

On Wednesday the 8th of November 2023, listing agent: Patrick Staples along with Britney Gardiner-Whymns welcomed esteemed TCREA guests to this stunning property.

A successful vacation villa that sleeps up to 12 people, Villa de Ligera (Villa of Light) has a 5,320 sq. ft. interior with 2,950 sq. ft. exterior for a total 8,270 sq. ft. Uniquely positioned, this 2-story Villa boasts spectacular views of the sparkling turquoise waters of the Caicos Banks to the south and the tranquil views of the Juba Point Salina on the north side. Practically every room in the Villa has a view of the water! Built on 1 acre in 2003, this 6 bedroom, 4.5 bathroom Villa went through major renovations and upgrades in 2017 inside and out.

Besides the huge open living spaces and many sitting areas throughout the Villa, the main attraction is the oceanside exterior with a huge pool and patio, covered lanai, a gazebo, and outdoor BBQ area as well as an elevated white sand beach leading to steps that deliver you into the shallow turquoise waters beyond the pool. The property borders a dedicated green space to the east and enjoys unencumbered access along a stone pathway to a beautiful, natural white sand beach. The interior of Villa de Ligera is opulent with a soaring 2 story open space and a welcoming sitting area at the entrance that leads to a calming and well-furnished living room area uniquely decorated with rich hardwood on the wall and ceiling.

Find the full listing here.

Contact the listing agent here.

2023 Turks and Caicos Real Estate – 3rd Quarter Year-To-Date Comparison

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The Third Quarter Trends Sharply Upwards

While most market followers focus on Closed transactions when evaluating real estate markets, brokers, consultants, and developers take an even closer look at Conditional and Pending transactions. Conditional transactions are Accepted Offers not yet Under Contract (Pendings) and both are really a harbinger of things to come.

Quarter 3 (usually our slowest quarter) outperformed expectations and further indicates that we are increasingly a year-round market and less of a seasonal market insofar as real estate activity is concerned. Led by Single Family performance, Conditional dollar volume is up a whopping 443.65% Q3 2023 over Q3 2022 ($124,223,600) vs. ($22,850,000). Pending transactions are up 8.13% ($136,524,800 vs. $126,257,357).

This sharp rise is a real eye-opener during our typically slowest quarter, so let’s examine why: Many of these Conditional transactions are on the strength of our New Development projects led by Arc, South Bank, The Strand, The Loren, with The Point by Grace Bay Resorts and St. Regis soon to be substantially adding to the mix when their listings officially come to market. So, we should continue to see substantial rises in our Conditional Sales as our big projects pre-sell and start construction in 2024, with the Hyatt Andaz just breaking ground. This leads to our biggest differentiator in times of scarcity of (existing) inventory, and that is our awesome New Development pipeline, which promulgates our sustainable growth and satisfies a market hungry for luxury properties in TCI.

Regarding Closed transactions across all segments of the TCI market, our Q3, Y.T.D. numbers are up 10% over 2022 ($526,828,182 vs. $475,699,009), with Average prices up 49.76% ($1,572,621 vs. $1,050,009) and up 130% in the Single–Family segment ($3,492,489 vs. $1,492,127)! This is another “wow” moment and can be best explained next time you take a ride over to South Bank, The Strand, Peninsula Estate, Beach Enclave North Shore Ph 2 and others and see so many gorgeous new villas either just completed or nearing completion which have contributed to the closed numbers.

With strong demand and very scarce existing condo inventory, this aspect of the market continues to struggle (sales volume down 43.62% Y.T.D.), as there is very little re-sale activity and owners are holding on with a tight grip. When we do see quality re-sales come up, they sell quite quickly and often at record numbers. Two recent Shore Club sales are illustrative, as they each sold for over 25% higher than prior markers. However, as discussed above, these numbers should normalize as our new projects reach critical mass and start the construction and completion cycles.

As we continue to shepherd our new projects and succeed in all aspects of the market, we look forward to welcoming you back as we approach the holidays, and…introducing you to the Future of Real Estate in November.

Find Turks & Caicos Sotheby’s International Realty past Market Reports link here.

Link to PDF Report

Digital Flip-Book Link Here

About Turks & Caicos Sotheby’s International Realty
Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Investing in the Turks and Caicos Islands

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Turtle Tail, Providenciales, Turks and Caicos Islands

Real Estate investment historically has proven to be a very profitable venture in the Caribbean and particularly in the Turks and Caicos Islands. 

Profitability can be realized through the generation of rental income, providing a positive cashflow or when selling an appreciated property at a profit. Whether you are a savvy venture capitalist or a discerning individual investor, real estate is a smart way to diversify your investment portfolio. However, identifying the ideal investment property and the right investment model, long term versus short term, are key factors when making a real estate investment decision.

Why investing in the Turks and Caicos Islands?

There are several benefits for investing in the Turks and Caicos Islands. The islands offer a unique combination of some of the world’s most beautiful waters, a diverse and intimate group of islands and cays, a historically low tax environment, high quality properties and wonderful accessibility from the United States and Canada, as well as one-stop flights from London. Here are some investment and lifestyle benefits:

  • No Income Taxes on revenue generated from property
  • No Capital Gains Tax on property transfers
  • No Estate or Inheritance Taxes
  • The United States dollar is the primary currency
  • No Corporate Taxes or Exchange Controls
  • A one time Stamp Duty charge
  • Steady appreciation in property values.
  • Steady increase over the past decade and is a top destination for travelers with many repeat visitors

Read more on the Turks & Caicos Sotheby’s International Realty latest Buyer’s Guide.

Active land listing on Providenciales

Providenciales is the most well-known of the Turks and Caicos Islands and is at the heart of economic activity, with a wide range of businesses as well as world class hotels, restaurants, retail outlets, golf, tennis and other sports facilities. The island offers residents, businesses and investors state of the art technological services, cable television, high speed internet as well as banks, legal and accounting firms and off-shore finance specialists. The national parks, secluded beaches, marinas and typical Caribbean settlements offer alternative tourism and other business opportunities in addition to the world-famous Grace Bay, seat of most of the tourism infrastructure. We’ve narrowed down six active listings for you. Please see below.

Prime Grace Bay Beachfront

Representing the only beachfront land available on the entire stretch of Grace Bay beach for private villa or hotel and tourism development, this nearly 3 acre-site boasts best-in-class pristine beachfront. With the surrounding precedents of single family residences, it is ideally slated for a low-density tourism related opportunity. There is no other land offering on the entire northern shore of Providenciales like this! Surrounded by high-end luxury residences and walking distance to Turtle Cove to the west and Wymara and West Bay Club and Grace Bay hotels and restaurants to the east. Full listing here.

2.9 Acres

286 Ft Ocean Frontage

$19.5M

Turtle Tail Beachfront

Turtle Tail Beachfront Introducing a rare opportunity to own a beachfront paradise in the coveted Turtle Tail, Turks & Caicos. Embrace the breathtaking vistas of the Caribbean Sea from your doorstep and create your dream haven on this pristine canvas. With direct access to the powdery white sands and crystalline waters, indulge in a lifestyle of tranquility and luxury. This exclusive beachfront gem presents an unrivaled chance to experience the best of island living in one of the world’s most sought-after destinations. Full listing here.

0.77 Acres

110 Ft Ocean Frontage

$2.1M

Elevated Turtle Tail Oceanfront Lot

Discover the majestic shoreline of Ocean Drive within this prestigious and exclusive Turtle Tail neighborhood. Elevations are over 40’ of elevation. Lot 58 is a rare and generously sized 1.11 acres, with magnificent 145’ of linear ocean frontage. Surrounded by significant homes and embracing jaw-dropping views of the southern shoreline and endless Caicos banks at all times of day, the site is slated for an exquisite home and site with ample opportunity to create one’s idyllic island lifestyle. Full listing here.

1.11 Acres

145 Ft Frontage

$2.33M

Turtle Tail Oceanfront

This coveted location provides commanding vistas of the resplendent turquoise waters spanning the Caicos Banks. The area has become a focal point of burgeoning demand and escalating value as discerning purchasers actively vie for opulent assets within this prized setting. Noteworthy is that the most substantial estate transaction within the vicinity has already exceeded the benchmark of $20 million. Full listing here.

0.83 Acres

160 Ft Frontage

$1.6M

Leeward Canal Font

Canal front land with expansive frontage located in the prestigious Leeward Development. Close to school, shopping, golf course, restaurants, grocery and Grace Bay. All utilities to lot line. Leeward Gardens host to 56 canal lots. Excellent for the boating enthusiasts. Full listing here.

0.61 Acres

200 Ft Frontage

1.59M

Long Bay Hills Oceanview

This beautiful ocean view lot located in Long Bay is a short distance to Long Bay Beach, neighboring multi-million dollar villas and the new Southbank development and marina. With its low-density residential zoning and high-end residential character this lot would be the perfect site for you to build your own peaceful oasis or a luxurious vacation rental, just a short drive to all amenities in Grace Bay including shopping, professional services, supermarket, banks, watersports, and an array of 5 star and casual dining restaurants. Full listing here.

3.1 Acres

Oceanview

$1.25M

Invest Turks and Caicos is dedicated to providing free and confidential advice and support, including: information on the local business climate; facilitating the investment process through liaison with key Government Departments; advice on Government incentives and concessions to investors; introductions to local service providers/suppliers; advice on immigration matters, including permanent residence certificates; and specific ongoing support following the set up of a business. Find out more on www.investturksandcaicos.tc

For more listings throughout the Turks and Caicos Islands, feel free to visit our website www.turksandcaicossir.com to get in touch with our expert Real Estate Associates.

Norman B Saunders Sr. International Airport in South Caicos is now completed

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There is a new face to South Caicos.

On the brink of a remarkable resurgence, the now completed and inaugurated Norman B Saunders Sr. International Airport, is changing the accessibility to the island.

The exciting transformative endeavor of the International Airport has been much anticipated and the entire local community is thrilled to see it through. The new International Airport has enhanced South Caicos’ prominence among its sister islands and also cemented its status as a world-class destination. For potential owners and existing homeowners, investing and exploring this enchanted rustic island is now easier than ever!

Private aircraft can now directly access South Caicos, eliminating the need for an initial stop in Providenciales. Discussions are underway to reintroduce international flight services to South Caicos in 2024. The capability to accommodate larger aircraft translates into higher passenger numbers and a modernized facility that benefits the entire South Caicos community, residents, holiday makers, vacation homeowners and potential owners.

Since May, the island’s gleaming new airport terminal has been extending a warm welcome to guests from across the Turks and Caicos Islands. The newly integrated services building includes essential support facilities such as an airport fire station, state-of-the-art firefighting vehicles, and a comprehensive maintenance center. These upgrades underscore South Caicos’ commitment to safety and efficiency, highlighting its dedication to delivering a top-tier travel experience.

South Caicos is poised to become an even more enticing destination for tourists, fueling the island’s economic growth. Furthermore, the improved airport infrastructure facilitates the seamless transportation of goods and supplies, offering vital support to local businesses and fostering economic resilience. For all potential homeowners, these developments bring added convenience and the promise of increased investment value.

As South Caicos ascends to new heights with the Norman B Saunders Sr. International Airport, the allure of this extraordinary destination is bound to capture even more hearts and minds. It is indeed an opportune time to be a part of this remarkable journey!

Here are two active listings in South Caicos.

Feel free to contact the following listing agents.

Coral Villa Sailrock

2 BEDS, 2 BATHS

Beachfront

2,272 Sq. Ft

MLS: 2300556

Listing Agent: Lisa Lopes

Full listing HERE

Bell Sound – Lot 152

Residential Land

Ocean view

0.58 Ares

MLS: 2300356

Listing Agent: Michael W Bovell

Full listing HERE

About Turks & Caicos Sotheby’s International Realty

Turks & Caicos Sotheby’s International Realty is the premier luxury real estate brokerage firm in Turks and Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, the firm is the go-to resource for developers, investors, homebuyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, Turks and Caicos Sotheby’s International Realty is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit www.turksandcaicossir.com.     

The Strand Construction Update: August 2023

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Click on the video above to watch the latest construction update

Turks & Caicos Sotheby’s International Realty is once again delighted to bring you the latest construction updates for The Strand. The four months since our last construction update marked a significant journey with the completion of the first Luxury Residence, others nearing completion and palpable excitement surrounding the commencement of the beach and groin works.

The unique essence of The Strand has always been its unparalleled location, design and of course, quality. An authentic architectural marvel, The Strand elegantly boasts a geometric design that seamlessly blurs the boundaries between indoor and outdoor living spaces. This design philosophy harmonizes flawlessly with old world craftsmanship, creating an environment where sophisticated luxury is ever-present. Rising from the beautiful Copper Jack, The Strand is reshaping the coastline as it brings forth a new paradigm of beachfront living.

Prioritizing a commitment to quality sometimes means taking extra time to ensure every intricate detail meets our high standards. In the end, the outcome is nothing short of spectacular, as John Fair, the esteemed Managing Director, Developer & Project Manager remarked, “The completed R3 Luxury Residence is one of the finest homes I have ever been a part of.” 

Despite labor demands and supply chain challenges, delays have been kept under control and minimized, Broker Richard Sankar revealed. “The project is progressing smoothly and is in line with the projected plan,” adds President Joe Zahm. “John and his team have been laser focused since the outset, and have been undeterred by COVID delays and other obstacles as they march towards completion with will and skill,” Joe completed. 

View The Strand’s active listings here

About Turks & Caicos Sotheby’s International Realty

Turks & Caicos Sotheby’s International Realty is the premier luxury real estate brokerage firm in Turks and Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, the firm is the go-to resource for developers, investors, homebuyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, Turks and Caicos Sotheby’s International Realty is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit www.turksandcaicossir.com.     

Explore the exceptional Below Deck, Leeward Canal, Providenciales

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Q & A Interview with Real Estate Advisor, Dee Agingu

There is one person who knows the stunning Below Deck at 52 Governor’s Road, as much as the owners and the architects, Dee Agingu, Turks & Caicos Sotheby’s International Realty Global Real Estate Advisor and listing agent of this spectacular property. 

The top performing real estate agent, Dee Agingu is no stranger to the luxury real estate market in the Turks and Caicos Islands. Having called these islands home since 2000, Dee is well known amongst her peers for integrity, high level of service and experience.

We sat down with Dee to find out more about this magnificent property which sits so proudly on the corner of Leeward’s Canal and this is what Dee had to say.

What is so special about Below Deck? 

It’s location. The remarkable property is a  6-bedroom 5-bathroom enchanting tropical canal front sanctuary nestled in the heart of the Leeward community, one of the most exclusive communities in the Turks and Caicos Islands. Beyond the electronic gate, a circular driveway leads you through lush landscaping adorned with palm and flowering trees, creating an inviting entrance. And to top it off, it has its own private dock, a 120 foot dock to be exact! What not to love?

What was your first impression of the property? 

The undisputed landscape. Lush landscaping that is perfectly manicured and lovingly maintained with mature coconut trees and vibrant tropical plants. The lovely driveway leads to an impressive main door. Step inside to a spacious open-plan living area with vaulted ceilings and contemporary furnishings, radiating comfort and relaxation. The kitchen is designed for entertaining, featuring high-end appliances, a walk-in pantry, and a large center island with seating. Connected to this space is a lounge and custom cocktail bar area with French doors opening to a pergola-shaded terrace, overlooking the pool area and the lovely canal beyond.

What is your favorite room and why ?

The open concept living/dining/kitchen. It has views of the beautiful gardens, pool, fire pit and turquoise waters of the canal, perfect for entertaining family and friends.

What is your favorite thing about the property?

I particularly love the tranquility of the primary bedroom which has a lovely massive bathroom complete with an outdoor steam shower. You can feel totally one with nature in your own home.

In or out? Where do you spend more time? 

Indoors in the main living area, but the outside is inviting too. Go in and out for short walks, paddle boarding or boating on the canal to the ocean which is less than 7 minutes out. I must add that in the back garden, there are multiple seating and lounging areas surrounding the poolside lounge with a pergola, showcasing the elements of nature with a waterfall firepit. 

What is that one thing any buyer would fall in love with? 

The layout of the property allows a harmonious one level living space. The primary suite is a luxurious oasis with a king-sized bed, sitting area, and a delightful ensuite bathroom with an abundance of natural light. And what about your guests? There are 3-bedrooms in the main house and for further accommodation, there is a 1-bedroom poolside cottage with a kitchenette and bathroom, and a self-contained 876 SQ.FT. guest house with a living area and kitchen.

The pool or the canal? And why? 

When there is a canal in your backyard, it is difficult to stay indoors. The canal offers direct access to the open ocean and is perfect for non-motorized water sports. With endless possibilities for the avid boater to go exploring the many hidden beaches in the Turks and Caicos Islands; go kayaking or paddle boarding on the mangroves close by. 

To find more information about this irresistible listing, please email Dee Agingu.

Full listing information click here. 

About Turks & Caicos Sotheby’s International Realty

Turks & Caicos Sotheby’s International Realty is the premier luxury real estate brokerage firm in Turks and Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, the firm is the go-to resource for developers, investors, homebuyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, Turks and Caicos Sotheby’s International Realty is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit www.turksandcaicossir.com.       

Dee Agingu
Global Real Estate Advisor
Turks & Caicos Sotheby’s International Realty 
c 649.231.3534 t 649.946.4474 

dee@tcsothebysrealty.com

A Recent Significant Sale on Sapodilla Bay, Providenciales

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Beyond the picturesque neighborhoods of Grace Bay, Long Bay, Turtle Tail, Leeward, Thompson Cove and Blue Mountain there is an equally breathtaking waterfront neighborhood on the southwest coast of the island, Sapodilla Bay.

Sapodilla Bay is home to some of the island’s most beautiful estates and setting amidst the scenic and tranquil waterfront of the western end of Sapodilla Bay is La Mer West (Villa 2), one of the most recent significant sales for the neighborhood and a truly spectacular waterfront property. Closed in August 2023 at $5.5M, the 5-bedroom home with over 9,000 Sq. Ft of indoor and outdoor areas provides abundant space for family gatherings. For the new owners of La Mer West, a new exciting beginning awaits them and we are pleased for this next chapter of the lives.

Whilst La Mer West is no longer on the market, there are other beautiful homes in Sapodilla Bay that boast equal ocean views. 

La Mer Villa 1

La Mer West is adjacent to its sister property La Mer South (Villa 1), a 9-bedroom villa currently listed for $10.75M. The property spans over three levels with dramatic ocean views with each floor having direct and incomparable views of Chalk Sound to the North. Spectacular sunset views are experienced from the great room with its vaulted ceilings, the ample oceanfront terrace and elevated pool deck. The home enjoys an infinity edge pool, and a swimming platform that offers easy access to the calm and shallow sandy-bottomed waters of the unique waterfront location.

The entrance of the property has a welcoming foyer, centered around a signature staircase leading up to the second level great room. Four bedrooms are on the main level including a handicap accessible bedroom suite. Only the most exquisite and understated furnishings, finishes and millwork are featured in this impeccable home. The great room opens to a large, shaded terrace on the oceanfront, and flanks the pool terrace and outdoor dining terrace with a clever pass through to the interior kitchen. Large glass sliding doors and windows showcase the airy spaces and 360-degree views. 

Boating, jet skiing, kayaking and paddle boarding amongst many other activities can be enjoyed right off the home’s dock. This very private villa is separated from its sister property via lush landscaping, and fully fenced and gated.

For further detail and price, please view the full listing here. 

La Mer Pre-construction

The beautiful site with its approximate 100’ of waterfront and unique topography offer rare southwest exposure, fronts the picturesque and calm Sapodilla Bay currently listed at $4.995M. Enjoying true privacy combined with direct water access, the design allows the best of all worlds.

Spanning 5,424 of finished areas including 4,607 Sq. Ft under roof, 817 is exterior, and including 3,428 Sq. Ft is A/C Sq.Ft. the plans are thoughtfully laid out to ensure a relaxed and hospitable experience. Built over two levels, the main level is the heart of the home featuring the living, dining, kitchen, and entertaining space seamlessly leading out to the pool deck and outdoor dining with sunken fire pit and plush oceanfront lounge, all easily accessible from the main level. Added pantry and prep area facilitate the ability to entertain. On the upper level, the primary bedroom and two additional guest bedrooms span the ocean facing façade of the second level each enjoying direct Caribbean Sea views and balcony areas, with a 4th bedroom with views of Chalk Sound. 

For further information and price, please view the full listing here.

Villa Sea Cliff

Villa Sea Cliff, located at the very tip of Ocean Drive on a spectacular, elevated site with 232 feet of frontage offering stunning 360 degree views of Sapodilla Bay, Taylor Bay and Chalk Sound. The recently refurbished property is a 6-bedroom home on 0.69 acres with 7,200 Sq. Ft of floor space. 

For further detail and price, please view the full listing here. 

Waterside Villa

Located on the quiet street of Waterside Close, lies this recently completed Waterside Villa. This gated ocean view villa was completed in April of 2023. The Turkaian design home has 3 floors, each with its own balcony where one can absorb the fantastic water views of both Sapodilla Bay and Chalk Sound. With 3-bedrooms, 3 bathrooms on 0.31 acres with 3,556 Sq. Ft, Waterside Villa can be your next piece of paradise.

For further detail and price, please view the full listing here. 

Villa View

Experience the allure of Chalk Sound and Sapodilla Bay from the captivating View Villa in the Turks & Caicos Islands. This splendid two-story residence boasts panoramic water vistas on every side, creating an island oasis just a stone’s throw away from the beach. Delighting in the luxury of a newly added saltwater pool, this 2,000 square foot gem with 3 bedrooms and 2 bathrooms offers an irresistible opportunity for those in pursuit of an enchanting island getaway without compromising on affordability.

For further detail and price, please view the full listing here. 

Looking for more real estates, please visit www.turksandcaicossir.com   

About Turks & Caicos Sotheby’s International Realty

Turks & Caicos Sotheby’s International Realty is the premier luxury real estate brokerage firm in Turks and Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, the firm is the go-to resource for developers, investors, homebuyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, Turks and Caicos Sotheby’s International Realty is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace.

Posted in Turks and Caicos News | Tagged Turks & Caicos Investment Opportunity, Turks & Caicos Islands, Turks & Caicos Islands Real Estate, Turks & Caicos News, Turks & Caicos Realty, Turks & Caicos Sotheby’s International Realty | Leave a reply

Private Island Luxury, Ambergris Cay, Turks and Caicos Islands

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A private island in paradise . . .

Descend your private jet on the private island of Ambergris Cay, in the Turks and Caicos Island.

This private island in the Turks and Caicos, sits 600 miles south of Miami, on the southeast corner of the Turks and Caicos Islands’ Archipelago that surround the stunning Caicos Banks.  Originally established as a community for private homeowners, Ambergris Cay opened as a private island resort in 2019. Now, travelers seeking a secluded luxury escape can enjoy access to over 1,100-acres of mostly untouched land, ready to be explored by a select few.

Recognized for their ultra luxury and bespoke customer experience, the exclusive resort on the island is making headlines for being a “Dreamy Destination”.

With just 10 suites and 7 villas for rent on an all-inclusive basis, the result is a luxury boutique hotel atmosphere in a vast and diverse setting. Accommodations include beachfront pool suites with heated plunge pools and a collection of privately owned homes and luxury villas, ranging from 3 to 6 bedrooms. The experience is bespoke, tailored to the individual, and ever-evolving.

The beaches of Ambergris Cay provide front row seats to whale-watchers and much more. An island filled with lush vegetation, Turk head cactus, indigenous iguanas, and unexplored reefs is now yours to explore and can even be your new vacation homesite.

We are pleased to introduce a rare and unparalleled opportunity to own a piece of paradise on Columbus Beach on Ambergris Cay.

This stunning homesite, covering 4.82 acres, on two lots, with 500 feet of beachfront on the south-east side of the island, offers a peaceful oceanside location to build your dream Caribbean vacation home or estate.

Dreams do come true.

Nothing Compares to What’s Next.

To find more information on Ambergris Cay, visit their website at https://www.ambergriscay.com/

To find more information on the available 4.82 acre land listing, visit our website .

Looking for a property for turn-key vacation use, view this beautiful villa on 0.46 acres.

About Turks & Caicos Sotheby’s International Realty

Turks & Caicos Sotheby’s International Realty is the premier luxury real estate brokerage firm in Turks and Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, the firm is the go-to resource for developers, investors, homebuyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, Turks and Caicos Sotheby’s International Realty is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit www.turksandcaicossir.com.       

Posted in Turks and Caicos News | Tagged Turks & Caicos Investment Opportunity, Turks & Caicos Islands, Turks & Caicos Islands Real Estate, Turks & Caicos News, Turks & Caicos Realty, Turks & Caicos Sotheby’s International Realty | Leave a reply

2023 Turks and Caicos Real Estate – 2nd Quarter Year-To-Date Comparison

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Turks and Caicos Market Closing Out New Development Inventory

Historically, Turks and Caicos Real Estate Association (“TCREA”) allowed New Development sales to be entered into production as Closed after property completion, which created a significant lag time in reporting (up to five years), as we waited for major condo projects, and some new development villas, to complete. This anomaly has recently been resolved regarding New Development villas (where the homeowner owns the underlying land), so that we can now enter these in our MLS system as Sold once the land closes and the associated construction contract is signed. This change will assure that our Market Reports will better reflect our real time market conditions, at least regarding New Development Single Family residences and villas. Condominium sales data will continue to lag though, as project completion is a condition to Closed sales in our MLS system.

You may ask, “why bring up this technical information?” Here’s why: you will find after Q 2 of this year that our Sold $ Volume is pretty much even with last year (circa $373M vs. $375M) led by Single Family Homes Sold $ volume, which nearly doubled last year (circa $275M vs. $144M). However, much of this inventory was actually “Sold” between late 2020 and Summer of 2022. South Bank for example has 35 villas either under construction or newly completed, and this inventory remained in “Pending Transactions” until very recently when the transactions were belatedly entered into our production reports as Sold. Moving all these Pending Transactions over to Sold of course means that Pending Activity (signed contracts) went down (55%).

So, what are the takeaways in the Single Family Home sector? First, TCREA sold a boatload of Single Family Homes over the past 30 months (led by South Bank, then Beach Enclave, and more recently, the Strand). Secondly, we have established SFH as a true luxury segment as the 118% increase in average price demonstrates ($3,572,350 vs. $1,637,988). Thirdly, we are in a build-and-complete phase as we wait for new projects and pipeline projects to ripen. Fourth, the newly sold residences of today become the re-sale inventory of the future. And finally, new projects are in the pipeline to replenish supply.

With regard to the Condominium Sector, we simply lack existing re-sale inventory, with $ Volume numbers down 54% year from last year (circa $61M vs $134M). When a quality condominium enters the market, it typically moves quickly and at an excellent price. For example, we recently sold a couple Shore Club units at record sales prices. Fortunately, we have great new development condominium inventory fulfilling a decade of built-up demand, led by The Point by Grace Bay Resorts, ARC at South Bank, and The St. Regis among others. This sales activity often will not go on the board as Pending and then Sold for months to years as the respective condominium developments gain momentum.
The upshot is that there is a story within the numbers unique to our jurisdiction, and that’s where we can assist in optimally learning from the past, evaluating the current market, and foreseeing trends to come.

So don’t hesitate to reach out to your sales professional to have a conversation about our market, and to assess purchase and selling opportunities!

Find Turks & Caicos Sotheby’s International Realty past Market Reports link here.

Link to PDF Report

Digital Flip-Book Link Here

About Turks & Caicos Sotheby’s International Realty
Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474