Property Market Abundant on North, Middle Caicos

Property Market Abundant on North, Middle Caicos  
By Sara J. Kaufman  

It is a bright breezy day in late March on Middle Caicos. The sun is dazzling as it sparkles on the sea, tempting you in for a swim. The tall stalks of the sisal plants with brilliant yellow flowerheads stand singly along the shoreline and the brown pelican zooms by. Fabulous!

It is amazing to realize that winter is almost over, our main tourist season half completed and 2011 racing ahead. Finally, real estate prices are beginning to firm, and buyers are almost ready to take the plunge.

It is truly a fabulous buyers’ market, and a veritable cornucopia of vacant land parcels, homes, businesses and partially constructed dwellings are for sale. Do plan a visit to come and see for yourself.

Best of all, the local economy is less rocky, and the British are decisively moving forward with new policies to bring fiscal responsibility to the Turks and Caicos Islands. Sporadic and isolated protests in Provo, while disturbing, have been short, unproductive and well contained.

It is undoubtedly difficult to reduce and upgrade the entire civil service in addition to educating the voting populace about the local economy. Tension is evident, but progress is also evident as more voters concede the need for British interim government, accept the need for criminal charges against corrupt activities, and welcome the potential for a stable future. The TCI is slowly coming through its troubled times.

The islands of North and Middle Caicos offer great investment alternatives, a warm-hearted and friendly population and a calm haven. Now is indeed the time to buy property here.

A great incentive for real estate sales right now is the reduced transfer fee (stamp duty) on property sales, at its lowest level ever. Only 2 percent is imposed on Middle or North Caicos land sales up to $500,000. And there’s good news too with more airlines offering daily service to the TCI, giving more choices for you and for those renting your home.

The infrastructure on both North and Middle Caicos grows steadily, so finding contractors, skilled tradesmen, building supplies, fresh groceries, computer repair, and even security services becomes easy. Construction is picking up on both North and Middle Caicos, day tourism is booming with visitors from Provo, with overall rental villa and resort occupancy very good this season. These islands are resilient, full of strong folk determined to live a good life here, and welcoming to those who wish to share it.

Forbes, Forbes & Forbes Ltd. has more than a dozen private listings on North and Middle Caicos, owners continue to directly sell their own properties, and there are more than 115 MLS listed properties for sale.

This huge diverse range of properties is available to suit every need — whether for long-term investment, retirement dreams, vacation rental business, commercial operations or your personal Caribbean home.

Don’t wait much longer to purchase that special property you have been watching this past year or two, as it is increasingly obvious to astute investors that this is the right time to buy.

We are pleased to assist you with background information, pictures, valuations and sales assistance for any property on North and Middle Caicos, so please get in touch soon. We can also help you sort out your trip and accommodations — let us know.