Real estate for sale in Turks and Caicos represents some of the most exclusive vacation home properties in the Caribbean.
The destination has earned a solid reputation with discerning buyers who want to own a place in the sun. Here are the top five reasons why Turks and Caicos is a good choice for overseas property ownership.
Ease of Access:
Airlift to Turks and Caicos is convenient and affordable. Flights are a mere 90 minute from Miami and three hours from New York City. Significant growth in the number of carriers and frequency of flights serving the destination has made airfare costs more competitive in recent years. In addition to direct flights from major cities in the USA that include Miami, New York, Charlotte, Dallas, Atlanta, Chicago and Philadelphia, there are non stop flights from Toronto, Canada on a year-round basis and a twice weekly flight with British Airways from Gatwick.
Regionally, Inter-Caribbean offers flights from Turks and Caicos to Bahamas, Jamaica, Puerto Rico and the Dominican Republic. New routes have also been announced to British Virgin Islands and Cuba. These regional flights provide the opportunity for connections with other carriers, and also the opportunity to enjoy weekend getaways to other parts of the Caribbean from Turks and Caicos.
Turks and Caicos boasts an average of 350 days of sunshine annually. Constant tradewinds help maintain a pleasant climate, which in turn provides an inviting environment for recreational pursuits. The obvious marine water sports opportunities are abundant, but land based activities are equally available and include an active tennis community, golfing at the acclaimed Provo Golf Club, and cycling.
Second home owners can enjoy their Turks and Caicos property year-round, with the knowledge that there is always plenty to do and explore.
No Direct Taxation
There is no direct taxation in Turks and Caicos. Real estate for sale in Turks and Caicos incurs a one-time stamp tax (land transfer tax), but after that, there are no property, income, inheritance or corporate income taxes.
Ease of Owning Turks and Caicos Real Estate
There are no restrictions on foreign ownership of Turks and Caicos real estate. The British Crown guarantees (fee simple) Absolute Title by way of Torrens Land Registration System. Title Insurance is not required. The country has a modern land registry system, making transfer of title simple and accurate.
Opportunity to Offset the Cost of Ownership
Turks and Caicos have one of the best performing tourism based economies in the Caribbean. Rental properties have enjoyed some of the highest ADR and occupancies in the region in recent years. Many of the resorts on Providenciales are based on the condotel model. This model provides condo owners with the opportunity to offset the cost of owning their unit through income derived from renting their property through a resort’s rental management program.
The Hartling Group is one of the pioneers of the condotel model in Turks and Caicos. The company has developed three beachfront resorts based on the condotel model on Providenciales.
The third resort, The Shore Club, is scheduled to open in 2016. The development plan includes 38 two and three bedroom beachfront condos, and six, six-bedroom luxury beachfront villas for sale. Condos start from $1.65 million and villas from $5.5 million. The resort will have three swimming pools, tennis courts, a spa, bespoke restaurants and retail outlets, and event space. The property spans nine acres of 820 feet of Long Bay Beach.
The Shore Club represents the newest condotel real estate for sale in Turks and Caicos, and the first commercial development on 2.5 mile Long Bay Beach.
For more information on The Shore Club visit www.theshoreclubtc.com.