We are pleased to report the first quarter of 2024 was an exceptionally strong one for The Strand, ending with more than $70 million in sales, contracts and reservations.
As of now, there are only fourSignature Residences and sevenVillas remaining—and based on the first quarter, the developer doesn’t expect those numbers to last long. If you’ve considered investing in real estate at The Strand, now is the time to make it happen.
Real estate in Turks and Caicos makes for a sound investment, and The Strand offers a unique opportunity to own luxury real estate that prioritizes sustainability, generates income, and offers the kind of relaxed island lifestyle many only dream about.
This oceanfront four-bedroom, five-bath home leaves a lasting impression with its elegant design and effortless blend of indoor and outdoor living space—complete with a 42-foot infinity pool overlooking the mesmerizing expanse of the Caicos Banks.
This residence has all four bedrooms directly overlooking the ocean, and features two master bedrooms—one on the main floor, and one on the second floor.
In addition, this home enjoys seamless indoor-outdoor living, with a private courtyard, outdoor kitchen and dining, covered terraces off the great room and master bedroom, and an infinity pool.
The second floor also features a bonus room overlooking your private courtyard and atrium with an exquisite garden.
Property is a finite resource, and the demand for real estate in Turks and Caicos has never been higher. This past year, Turks and Caicos recorded its best financial year ever, processing over $782 Million USD in transactions across the overall market. With the islands anticipating unprecedented growth in the luxury tourism and real estate sectors, it’s a great time to get into the market. Link to Real Estate Market Reports.
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.
Real Estate Sales Volume Holding Steady as Pre-Construction Sales Heat Up
Turks and Caicos continues to be a leader in tourism and real estate sales throughout the Caribbean region and the sales numbers and pre-construction sales numbers certainly reflect this attraction to be a part of our incredible environment whether just for a brief stay or for a lifestyle.
There are currently a host of opportunities for new development offerings, some currently under construction and some that are about to announce their plans. A number of the larger parcels of beachfront land in Providenciales will be reshaped into high-end, branded hotels, and residences to keep pace with the seemingly endless demand for investment and vacation properties. Our superb tourism offerings continue to attract A-listers from around the globe as seen throughout the social media channels as well as buyers looking for a place to call home amongst the abundant turquoise blue ocean views throughout, the temperate climate, and tranquil laid-back Caribbean atmosphere.
The first quarter of this year witnessed another major groundbreaking celebration in Providenciales by the same developers of The Ritz-Carlton Residences with The St Regis on Grace Bay as well as the formal public sales launch by Grace Bay Resorts with The Point. These two new luxury developments have already recorded over 70% (St Regis Tower I of three towers) and 65% (The Point) units sold/reserved. The Loren on Turtle Cove, which broke ground in June 2023, is showing a unit sales production of 52%, and Andaz Turks & Caicos after officially breaking ground last year is reporting unit sales production at 65%. ARC at South Bank is 50% sold with construction to start in May of this year. This new condominium inventory is satiating the overdue demand with buyers who are willing to wait for up to three years for the completion of the resort properties. We are also gaining momentum on some of the boutique new developments such as Villas at Blue Mountain, with multiple pre-sales which will soon start construction, and The Summit at Blue Mountain, which has strong momentum and is well under construction. The positive side, for buyers to the delay in usage of their new vacation property, is the stage payments with new construction which fit the bill for those who prefer a payment plan for their Caribbean investments.
While the pre-construction sales in the Condominium Sector are high and not officially recorded within our TCREA MLS statistics, in this 1st Quarter, the re-sale condominium sales volume was $18M, 25%-65% lower in comparison to the past three years with the average price remaining high at $1.1M which resulted in a $/SF of $1,100 at the luxury end (+$1.5M). Also note that re-sale condominium inventory continues to remain low with DOM averaging only 118 days.
The Single Family Home Sector continues to lead the way albeit the sales volume is down from 2023’s numbers but steady in terms of healthy growth when reviewing the past five years. There are several pending sales that will be posted throughout this coming year and the new listings that have come on the market will help to fill the gap in this sales volume by the end of the year.
The Land Sector experienced a large spike in activity, as a result of five large transactions, Emerald Estate-$8M, Northwest Point-$7.5M, Grace Bay-$6.75M and $5.365 and Long Bay-$3.8M, which also raised the average price to $1.325M, an all-time record. Interesting to note, beachfront land in Long Bay was selling for $20,000 per linear foot of beachfront in January 2021 then hit a cyclical high of over $42,000/LF in January 2022. The 110% increase in value over a one-year period caused a pause in demand for a couple of years. This changed in March 2024 when we saw a modest increase of 10% to over $46,000/LF. The outer island land sales continue with this 1st Quarter seeing 30% of the land units sold from North Caicos, Middle Caicos, and Grand Turk.
Enjoy the beautiful spring weather wherever you are! We look forward to keeping you up to date with the real estate market in the months to come.
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.
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
Minutes from Turtle Cove Marina and near-by restaurants
Three parcels in Turtle Cove totaling 3.29 acres with 116 feet of Beach Frontage and 226 feet of Canal Frontage makeup Grace Bay Beach Ocean Villas, which is presently a profitable short-term villa rental business. In 2018, the vacant oceanfront property was approved for rezoning to Tourist Related (T01), allowing for the potential development of six residential properties on the 0.952 acres. Five villa buildings total are currently located on the other two Residential (R01) canal front properties.
Grace Bay Beach Ocean Villas currently operating as a successful short term villa rental business consisting of three parcels. The vacant beachfront lot received rezoning approval in 2018 to Tourist Related (T01) allowing future development of six residential homes on the 0.952 acres. The other two Residential (R01) canal front lots currently have five villa buildings in total. Breakdown of the three lots as follows:
7 Coconut Road Block 60713: Lot 30, Acres 1.162, 3 Buildings, 113 Ft Canal Front, 6 Bedrooms and 5 Bathrooms, 3,655 SF with Pool & Dock
15 Coconut Road Block 60713: Lot 31, Acres 1.165, 2 Buildings, 113 Ft Canal Front, 7 Bedrooms and 7 Bathrooms, 4,075 SF with Pool & Dock
10 Coconut Road Block 60713: Lot 201, Acres 0.952, Vacant Land with 116 Ft Beachfront
Please contact the listing agents for more information and for the development brochure.
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
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.
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
South Bank is excited to announce that all Lagoon Villas have been handed over welcoming new residents to their exceptional homes to enjoy the Malibu-inspired lifestyle. Atilla Cimsit, our General Manager, and his dedicated hospitality team are ready to assist owners and guests with any requirements and can offer personalized recommendations to enhance the island living experience. Owners who are part of the South Bank rental program managed by Grace Bay Resorts and non-owners looking to experience the South Bank lifestyle next Spring, GBR is now accepting reservations for villa stays commencing on May 1st, 2024.
The Fitness Center:
For health and wellness enthusiasts, the state-of-the-art Gym featuring the latest Technogym equipment will be opened this month. Strategically located at the water’s edge, the Gym overlooks breathtaking views of the serene lagoon. Fully air-conditioned, it offers residents and guests the ideal setting for maintaining an active lifestyle. Next to the Gym, the Spa is also nearing completion to receive guests and residents into an array of bespoke wellness services.
The Clubhouse:
Those who have visited South Bank recently will have noticed the Clubhouse structure is now at roof level, promising an inviting indoor-outdoor experience with picturesque lagoon views. As the hub of South Bank, the Clubhouse will feature an internal dining arrangement that flows out to a central landscaped courtyard and romantic beach seating with dining options to include a relaxed yet sophisticated restaurant, an outdoor pizza oven, and a chic cocktail bar.
The Launch Boathouses:
Anticipating waterfront living with instant ocean access, the first two blocks of The Launch Boathouses, E and D will be handed over for occupancy in March 2024. These homes offer direct boat access, inviting owners to explore the archipelago at their leisure. Two remaining Boathouses are available for purchase. If you would like to know more on the latest availability, please contact our office. The Ocean Estates: Oceanfront living is becoming a reality at the Ocean Estate, with some owners already settling into their villas. The remaining Ocean Estate Villas are making progress, promising serene vistas and pure waters.
ARC Sky Villas:
Looking ahead to 2024, the developers are preparing for an exciting new chapter with the construction of Arc. The site for Arc is currently being leveled, with the Wastewater Treatment plant works well underway and the beach works having commenced. This striking addition to the South Bank community will break ground in Q1 2024. Only ten ARC Sky Villas remain available for sale, including one last remaining sunset-facing end unit. All residents of South Bank will enjoy access to a new resort beach, pool, bar, and restaurant that will be part of this new South Bank neighborhood.
For more information on ARC Sky Villas, visit our website or view the Youtube videos on this channel.
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
Bradley Theodore,Tina Booroff, Michael Fenimore, Andy Stephens, Richard Sankar
Paparazzi hosted its first open house event on Friday, November 3rd and it was a hit. Invited agents and friends were cordially received by Richard Sankar, Michael Fenimore, and Simone Rigby, who showcased this remarkable prime, multi-level, multi-unit commercial property.
Brimming with opportunities, Paparazzi is location in Turtle Cove just below the Queen Angel resort and condominiums. This area is home to great restaurants such as Mango Reef, Baci’s and Sharkbite bar & grill making it an ideal location for a thriving venture.
This complex constructed in 2006 sits on 0.75 acres of land with 15,830 sq ft of interior space. This building comprises a downstairs casino floor, second floor restaurant and third floor night club all with elegant, modern outdoor patios. The ground floor which is currently set up as a casino is equipped with general reception area, private offices, bathroom facilities, roulette tables, flat screen TV’s and cash dispensing areas, all that an investor will need to start business immediately. The restaurant located on the second floor is immaculate. The unit is set up for romantic evening dining in the expansive dining room along with a small balcony for cocktails before dinner. This level is complete with a full bathroom containing high end fixtures and a commercial grade bespoke kitchen. The third level is the nightclub/bar area perfect for ending an enchanting evening with distant views of the Smiths reef and marina.
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.
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
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.
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.
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.
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.
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.
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
