For people looking for Caribbean real estate investments, Blair MacPherson, co-owner of RE/MAX Real Estate Group Turks & Caicos Islands, says TCI is a great place to put on your radar, and the timing couldn’t be better.
Is this a good year to invest in property in TCI real estate? Blair MacPherson, co-owner of RE/MAX Real Estate Group Turks & Caicos Islands answers this question with an immediate and unequivocal “yes.”
Admittedly, there have been some fairly-recent not-so-great years, most notably in 2009 when Turks and Caicos real estate transactions reached an all-time low, with prices dropping by 18 percent. But since then, “economic recovery has been very good and the real estate market has certainly bounced back, showing significant growth every year since 2009,” observes MacPherson, who is an active member of the Turks and Caicos Real Estate Association (TCREA) with over 13 years of experience in TCI real estate.
MacPherson believes the Turks and Caicos real estate market is still under-priced today. “Sometimes people think when the market bounces back, they’ve missed the opportunity to buy because prices are going up, but that’s not the case at all in Turks and Caicos,” he says. “It’s still a very good time to purchase real estate here. If you compare Turks and Caicos to other top comparable islands in the Caribbean, Turks and Caicos is still under-priced and offers tremendous value to foreign investors.”
Of course, there are more reasons to buy Turks and Caicos real estate other than just undervalued prices, MacPherson adds. Turks and Caicos is a British Overseas Territory with an investment-friendly land registry system protected by the British Crown. Stable government within an off shore tax free jurisdiction, meaning there are no annual property taxes, no income tax, capital gains, sales or inheritances taxes. The islands are considered one of the safest countries in the Caribbean, with a crime rate ranked as “relatively low” by the US State Department. For American investors in particular, additional pluses are that English is TCI’s official language, the US Dollar is the legal currency, and TCI’s close proximity to the US mainland. Providenciales International Airport is just an hour and twenty minute flight away from Miami, two hours from Atlanta, and 2.5 hours from New York City.
“All of these factors, plus the incredible beauty of our silky sands and Azul waters, make TCI an attractive place to invest,” MacPherson says. “And if you buy now, you are still getting in at a very good time.” He expects property values to continue moving upwards in the immediate years ahead, with the biggest growth in the high-end, luxury beachfront villa sector.
As far as where to buy in Turks and Caicos, MacPherson sees Leeward as one of the most attractive areas to invest in. “Leeward is a gated community, located on the east end of Providenciales, which is also home to the world class Blue Haven Marina. Leeward features some of the most amazing canal front residences, which are all within walking distance of Grace Bay Beach,” he says. “We’ve been very successful selling in Leeward, with most recent sales including a 10 acre land parcel listed at $12 million and several canal lot homes in the $1.5 million to $5 million range.”
RE/MAX Real Estate Group Turks & Caicos specializes in luxury TCI real estate. The majority of MacPherson’s listings are valued in the million dollars and up price range. A sampling of his listings currently on the market include:
For more information about these property listings, or to learn more about other TCI real estate investment opportunities, please contact Blair MacPherson by phone at 1-800-941-0465 or 1-649-432-5677, or by email at firstname.lastname@example.org.
About RE/MAX Real Estate Group Turks & Caicos Islands:
The RE/MAX Real Estate Group Turks & Caicos offers unique, luxury real estate opportunities on the islands that are home to Grace Bay Beach, which has been named one of the world’s best beaches numerous times. With breathtaking views, world-class spas and resorts, fine dining, local culture, and the awe-inspiring coral reefs, the Turks and Caicos Islands offer unique investment opportunities in that they are located in a tax-free jurisdiction. For more information, please visit www.remax-realestategroup-tci.com.