House for sale in the booming tax free country of Panama!  Canadian owners relocating to Providenciales (Turks and Caicos Islands) are motivated to sell home quickly.  Located in the beautiful Pacific beach community of Coronado, a one hour drive from Panama City.  The three bedroom plus maid’s quarters home features a salt water swimming pool with jacuzzi and waterfall, large bohio (patio), open concept kitchen with granite counters and stainless steel appliances, 2 full bathrooms, 2 half bathrooms, interior courtyard garden, wireless internet and much more.

The house enjoys gorgeous mountain views and backs onto a greenbelt.  A resort club membership (access to private beach club, 18 hole Fazio golf course, equestrian centre and resort) is included and a 17 year property tax exemption remains on the house.  Newly built in 2008, the house has only been sporadically occupied by the owners.

It is just a 2 minute drive to the beach, health clinic, grocery store, many shops and restaurants, world class equestrian center and much more.  The 1,000 meter square lot backs is adjacent to the lands planned for the golf course expansion.

Appraised at $371,000 during the market downturn in 2009, this house is listed at $269,000 to sell fast.

Contact Simon Padgett (International Real Estate Specialist) via simon@remax-tci.com for more information.

It is very evident that we are seeing more real estate traffic and this is an encouraging sign that buyers have recognized that property prices have actually stabilized over the last two to three months, after a fall of approximately 30-35% across the sector.

We are interestingly seeing more developers looking at commercial land and sales of residential land, in general are doing slightly better compared to this time last year.

On the condominium front, we see a steady absorption of current stock (not frantic by any means) at reduced prices, compared to say 2007 prices. This is a healthy process, given the level of stock that we had in 2008 and 2009. As this inventory depletes, we shall look for new projects as the typical real estate cycle kicks in to touch once again.

The future of Turks and Caicos Real Estate brings developments such as the Third Turtle Club, a branded Beach and Marina experience in Turtle Cove Marina and the Shore Club in Long Bay Hills.

As we start to progress through 2010, we already see some positive signs of optimism for the real estate industry, which will transcend through to other industries including the construction industry and hospitality.

For Turks and Caicos Real Estate advice, please contact a member of our team at RE/MAX ELITE

Simon Padgett, Broker

Chart for Caribbean Growth Vs. US and Europe

The Turks and Caicos and Caribbean Markets are prime for real estate investment. Recent research shows that the TCI and the Caribbean are ahead of the curve against other regions when it comes to people visiting the islands. Not surprisingly 2009 has seen hotel performance suffer, however, long-term trends have moved in relative sync with their larger feeder markets, the US and Europe. This combined with a move into peak season has seen the first growth rates in occupancy since April 2008. Small revenue increases on this period are also apparent.

Moving forward, analysts are predicting further growth in this final quarter and into 2010 as European, Canadian and Us economies gain momentum.  Most encouragingly these growth rates currently outperform their feeder markets, which is promising news for the region.

More detailed analysis can be found at HotelNewsNow.

So, start looking for your next second home!

The RE/MAX Elite real estate office has been busy in the Turks and Caicos! Amongst an ever increasing number of potential real estate clients visiting the TCI, we recently helped welcome a 30-strong Canadian Tax conference to the islands. The Conference was initially held in the ballroom at the Regent Palms and, set up by Canadian and former TCI resident Greg McNally, acted as a showcase for a variety of investment opportunity on the island  that would help Canadian residents make the most of their tax allowances buy purchasing in the Turks and Caicos Islands.

Tax Conference Showing of the Third Turtle

The party of potential investors were shown a variety of properties including Villas and many luxury Condominiums including those in Grace Bay Club, The Sands, Villa Renaissance, and the Gansevoort, to name a few. After this, they were even treated to a preview of the upcoming Third Turtle Club by Simon Padgett and his team.

The event  created a real buss for the investors who displayed clear interest in the island and in a range of ownership strategies, including the increasingly popular concept of fractional ownership. We hope to welcome them back in the future to further explore ownership on Providenciales!

Last week the Turks and Caicos on Grace Bay received recognition in the prestigious World Travel Awards. All the more reason to explore some of our splended Turks and Caicos condos, luxurious beachfront homes, or simply learn more about the advantages of Turks and Caicos real estate.

The Somerset in Turks and Caicos

The World Travel Awards have held their grand final in the Turks and Caicos for the last 3 years. The renowned event has been held in sumptuous Grace Bay, a lavish black-tie affair with representatives from around the world. The Turks and Caicos have regularly punched above their weight in these awards taking home many of the most sought after accolades, due to its stunning natural beauty and hard work of the developers on the island.

This year we are pleased to announce that the Turks and Caicos again took home a range of awards. Leading Hotel in the Turks and Caicos was  won by the Somerset! RE/MAX Elite is proud to say that we are currently listing a number of units at the Somerset, including Somerset unit #101 and Somerset unit #105. Take a look!

On top of this accolade, the RE/MAX listing Welwyn Penthouse won best presidential suite in the Caribbean! We are pleased to report long overdue recognition of the work of everybody at the Somerset.

Take some time to look at our Turks and Caicos property for sale, and contact us if you have any questions.

RE/MAX Elite is pleased to pass on positive news about WestJet flight connections between the Turks and Caicos Islands and Canada.

Passengers disembarking from an Inaugural Flight to Providenciales

WestJet is scheduled to fly between Toronto and Providenciales, three times a week from now until May 1, 2010. It is hoped that a year round service will follow in due time.

This can only be good news for the Turks and Caicos Islands as North American markets continue to diversify and expand.  Please contact us if you are coming down to the islands and would like to view Turks and Caicos real estate during your stay.

The Turks and Caicos recently welcomed the inaugural flight of the new non-stop service from Toronto to Providenciales. 139 passengers touched down to be welcomed in the airport’s V.I.P. lounge by the likes of Permanent Secretary to the Governor’s Office Dr. Kingsley Been; Chairman of the Tourist Board, Dr. Hugh Fulford; Director (Ag) of Tourism Ralph Higgs; President of Air Turks & Caicos Lyndon Gardiner and President of TCHTA Karen Whitt.

Dr. Hugh Fulford welcomed WestJet and commented that he hoped “that this business relationship would grow and mushroom into something all parties can be proud of.” He added, “We have realized the positive impact the Canadian market can have on the Turks and Caicos Islands and we look forward to the benefits now and in the near future.”

Acting Director of Tourism, Ralph Higgs, went onto state, “We are very pleased that WestJet has chosen the Turks and Caicos Islands.  Our friendly people, accommodations, and beaches are second to none.” Higgs then added, “We are willing to work to ensure that the TCI benefits from this relationship with WestJet.  They can count on us as partners moving forward.”

WestJet, for their part, responded that they are continuing to seek out hotspots like the Turks and Caicos Islands to expand into and assured that places like Providenciales would be embraced by the Canadian market.

RE/MAX Elite is pleased to report good news for the Turks and Caicos Islands, coming in a press release from Grand Turk’s Government Information Service. Despite a tough economic climate around the world, the Turks and Caicos islands remain one of the most desirable Caribbean destinations. According to statistics, long-stay visitor arrivals are down slightly (2%) for the year 2009, so far. However, arrivals to the island this year remain better than expected in the climate that we have faced.

Turks and Caicos: Turtle Tail property

For the first ten months of 2009, long-stay visitors are reported to total 222,835. This is compared to 227,288 visitors for the same period in 2008. Statistics from the Turks and Caicos Government’s information service show that in 2008 cruise passengers to the Grand Turk Terminal came to 237,113. At the end of 2009 it is expected  that this figure will have increased by 45%.

Here at RE/MAX Elite we are happy to continue to pass on the good news about our islands. Please contact us if we can supply you with any more real estate information or assist you in any queries.

Sabrina Hamilton

RE/MAX Elite real estate agent Mrs. Sabrina Hamilton was born and raised in The Turks & Caicos Islands. She attended The University of Technology and The University of Phoenix, pursuing a career in Business Administration and Accounting. She also holds a Diploma in Interior Design, which fueled her interest in the real estate industry, along with her experience in working with the government as the personal assistant to then Minister Responsible for Land Surveys and Department of Environmental and Coastal Resources, the Hon. McAllister E. Hanchell.

Sabrina enjoys providing her clients with a high level of service and commitment. Having obtained I.R.E.S. (International Real Estate Specialist) Certification, she seeks to act as the exclusive agent for her clients whether they are buying or selling here in the Turks and Caicos Islands — anywhere in the world.

Being a wife and mother of one, Sabrina also embraces the opportunity to provide families with the opportunity to thrive in an environment that has one of the lowest crime rates in the world. The Turks and Caicos can boast this, along-side international award-winning beaches, friendly people and great opportunities for investments.

She has lived on the island of Providenciales since 1994, originally employed with Barclays Bank, now known as CIBC Caribbean International Bank of Commerce. She has extensive knowledge of the islands and seeks to provide you with a warm and friendly experience while fulfilling your dreams for a tropical oasis or simply a sound investment on these beautiful shores.

Contact us here or Sabrina directly for assistance.

RE/MAX Elite has more positive real estate news to report following the latest economic announcements in the U.S.  Close adviser to the president, Warren Buffett, has again gone on record stating reasons for optimism. His opinion holds that there are crucial reasons to believe that America has seen the worst of the economic situation and is now progressing back towards health.

When questioned on current economic prospects Buffet responded that “enormous” progress had been made since this time last year, he attributed this positive state to the government’s actions in in the Fall of 2008. Buffet believes that those actions prevented America’s economy from “going over a cliff”.  Furthermore he went onto state that the worst in this regard is behind us.

He was candid when asked about unemployment, citing that companies confidence would take time to be restored before before this improved.

It doesn’t seem that we are in for a quick recovery, but experts such as Buffett are confident that the fundamentals are strong and that a full return will be made. This is great news for the Turks and Caicos Islands real estate market, which is so closely linked to the fortunes in the north!

Please contact us if we can assist you in in your real estate inquiries as the market returns.

Here at RE/MAX Elite in the Turks and Caicos, our real estate agents are always seeking to extend their qualifications and expertise. Subsequently, at  the recent RE/MAX conference in Miami, all of our agents became I.R.E.S. certified (International Real Estate Specialist). More than 2,000 agents worldwide have received this designation so far. A range of networking opportunities come with this accreditation, including access to the Castles and Estates website and it’s affiliated magazine. Furthermore, our agents will receive ongoing training in the highly specialized nature of International real estate transactions and marketing. All of this is a huge benefit to our Turks and Caicos real estate sellers.  Now is a great time to come into the RE/MAX Elite office to pick the brains of our experts, contact us or see directions here.