Where else can you get a beachfront lot with a 30 -50ft boat dock space at this price? These lots are simply superb value and have been reduced back to 2002 pricing. Come and see these unique opportunities in Turtle Tail on the South Shore of Providenciales in the Turks and Caicos.

There are many beautiful spots within the Turks and Caicos, and whilst most buyers look at the busier condo options in Grace Bay, there are some relatively undiscovered and beautiful residential development parcels like these in Turtle Tail, on the south of Providenciales.

Beach View Land

Beautiful Panorama

Turtle Tail Oceanfront Land Lots

MLS# 076938

MLS# 077071

MLS# 077074

MLS# 076936

Click here to see more about these lots.

Or Contact us at RE/MAX ELITE for more detailed information.

At Re/Max Elite we enjoy bringing you real estate news about the Turks and Caicos Islands, but we also like to provide other information we think will help people in the TCI. This week we want to turn the spotlight on Lawyer Emma Riach who has recently returned to Providenciales.

Simon Padgett, Broker of Re/Max Elite states: “Emma brings with her a wealth of experience, but most importantly a fresh and energetic approach to doing business’ Emma is one of several lawyers that I recommend because she is very efficient and most notably, she gets the job done in a timely manner!”

Emma Riach

Emma is originally a London barrister & solicitor who has been living and working in the Caribbean for the last 6 years advising on all aspects of real estate and commercial developments and transactions.  In the Turks and Caicos, as an attorney admitted to the local Bar, she has for many years advised several of the leading developers in the development of high end resorts on the islands.  Additionally she has assisted numerous private vendors & purchasers in the sale/purchase of villas, condominiums and land (and development thereof) throughout the islands.

Emma holds a number of legal qualifications and has worked over the last 16 years in the Turks and Caicos Islands, Bermuda, Anguilla, London and Paris. This provides a wealth of comparative knowledge on these countries and some of the unique advantages of real estate investment and development in the islands.  Emma feels that she is privileged to be able

to call Providenciales home and loves exploring and staying on the other Turks & Caicos Islands at the weekends. She is more than happy to impart her knowledge and enthusiasm for all of the islands with her clients.

Emma can be contacted at emmariach@karammissick.com

Re/Max Elite always looks at selling fantastic opportunities in the real estate market in the Turks and Caicos Islands, and recently has become the real estate agents of choice to market the Venetian on Grace Bay. Please take a look at these two great units:

The Venetian Unit 702
The Venetian Unit 204

The Venetian offers a luxurious year-round home or a much desired holiday escape. With the elegance of ocean-front living and set on the white sand and glistening turquoise sea of Grace Bay Beach, The Venetian captures the best in beach-front living. From its architecture to design and finishes, The Venetian offers all of the amenities and beauty desired by those seeking the best in their personal piece of the Caribbean. In terms of value for three bed condominiums in this current economy, you will not beat the Venetian, in terms of its quality finishes and most importantly its location with probably the best sunsets on Grace Bay.

The credentials of the development team are clear to see. The first of the two developers behind The Venetian, Brian E. Butler, has won the proud reputation as Cayman’s foremost builder of resort condominiums. In twenty successful condominium projects on Cayman’s Seven Mile Beach, Mr. Butler has set and achieved high standards of design and quality.

Robert Ellingson-Lewis, a co-developer and project manager, has also been involved with successful land development projects and the building of custom homes in both Canada and the United States. Mr. Ellingson-Lewis is responsible for the team’s most recent and very successful condominium development, The Tuscany.

The Venetian is a very exciting new opportunity that is due for completion January 2011. Contact us now for more information.

The View from the Venetian

Re/Max Elite is pleased to put the spot light on Ambergris Cay in the Turks and Caicos Islands, following the recent listing of Hawkins Ridge. This beautiful piece of land, a sanctuary hidden in the south of our island chain, is part of an exciting development, intended to provide a Caribbean paradise with the privacy difficult to attain many places in the world.

Ambergris Cay is easily accessible via Providenciales on private jet (taking less than twenty minutes), but the beauty of the island is that it feels like you alone know about it. It is possible to enjoy wonderful diving, snorkeling and fishing off the island. At certain times of year it is even possible to watch the whale migration that gave the Cay its name (Ambergris is a valuable waxy substance left by migrating Hump-back whales).

Ambergris Cay Beach

In keeping with the rich biodiversity of the island, the ecologically sensitive development has sought to preserve the ecosystem in place and even educate residents and visitors further with the Environmental Learning Center. This project has sought to embrace and preserve the flora and fauna of the island to continue the beautiful legacy of the region. One third of the island is even set aside as a reserve to keep those elements untouched.

Whether you decide to build a villa here in the same style as one of the fantastic examples already developed, or create a home based on your own designs, this could be one of the most wonderful oasis’s in the Caribbean.

As a follow up to this blog we will be featuring interviews and thoughts from some of the individuals connected to this stunning island in the coming weeks. Please come back to read more.

Click here to see our Hawkins Ridge listing.

Re/Max Elite likes to bring you good news from the Turks and Caicos Islands.  Recent global events have not always been positive but the Turks and Caicos recently received a host of well deserved plaudits. Following a recent press release from Trip Advisor’s 2010 Traveler’s Choice Awards it became known that Providenciales has won 1st Place as the Best Beach and Sun Destination in the World and 8th Place as the Best Relaxation and Spa Destination in the World. In addition to this, for the Mexico and Caribbean region, the TCI also won 3rd Place as the Best Family Destination and 3rd Place as the Best Romance Destination.

The Turks and Caicos Islands are a fantastic destination to visit or live in. Please be sure to contact us when you next visit.

A Beautiful place

We are half way through May and effectively at the end of the high season at Re/Max Elite, in the Turks and Caicos Islands, and after a disappointing 20 months in the global real estate market, we have lots to look forward to. In the TCI, we have recently seen a reduction in stamp duty and you can see my recent blog on the list of reductions for each price bracket.

The new hospital has opened in April and we are blessed with state of the art medical facilities that are better than anything I have personally attended in the UK. You can view more information on the Hospital here.

The new airport expansion was announced last year and the construction contract was recently awarded, after a lengthy bidding process. The contractor hopes to start work as early as June. The newly completed airport will allow access to larger aircrafts, which will open up the islands ability to attract other carriers and open up new flight destinations. I am keeping a close eye on what evolves in this regard, but I believe we may possibly see additional flights to Europe, which would hopefully have a positive impact on bringing the fares down that British Airways charge for its direct Sunday afternoon flight. I actually do like the BA flight from Provo to London, but if we can bring in competition and make the trip a little more cost effective, we will surely then see progressively more Europeans coming to the islands.

In speaking with all my friends who operate hotels on the island, they have all commented on what a significantly improved year it has been for their occupancies during this high season, albeit they have all had to offer better rack rates to compete with each other. I have frequently been informed by a number of operators that they have frequently seen 100% occupancy and I can’t recall anyone saying this in 2009!

The underlying strength and characteristics of the Turks and Caicos Islands remain intact and the light is bursting through the tunnel in terms of infrastructural advances that will take this island forward in to our next real estate cycle.

Simon Padgett, Broker, RE/MAX ELITE, Turks and Caicos.

Interesting news from the Turks and Caicos Islands real estate market:

Re/Max Elite Broker Simon Padgett stated “I am very encouraged by the recent news that Stamp Duty is being lowered across the islands”

“Whilst I do not believe it will significantly increase new real estate enquiries in the short term, it will actually enhance the chances of those who have perhaps been hesitant on making a purchase to move forward and buy something. I have found that we have a group of buyers who feel our price drops have some way to go, then you have others who feel we are at the bottom. It is the latter that have been making the recent purchases. It is the group that lies somewhere in the middle that I feel this reduction will be seen as the catalyst that makes them move forward with a purchase.

My own personal thoughts on real estate values is that certain areas have bottomed out and the properties that still need reducing are those where owners are simply not realistic about their market values and are dictating to their agents what they feel it should be priced at versus accepting the factual advice they are receiving.

In essence, whether we like it or not, we are in a buyer’s market and this reduction goes a significant way to enhancing the absorption of properties on the Turks and Caicos Islands and creating excitement whereby buyers start to hurry to buy a certain bargain, before somebody beats them to it! I am starting to see this in certain areas already and this reduction only goes to aid the acceleration of this process and take us into the next cycle”

The new fees apply to all islands except North Caicos, Middle Caicos, East Caicos, South Caicos, Grand Turk and Salt Cay, which are 50 percent of the following rates:

Less than $25,000—no duty.

$25,000-500,000 — 4%

3.6% — one payment

1% — four payments

$500,000-1.5 million — 6%

5.4% — one payment

1.5% — four payments

$1.5-3 million — 8%

7.2% — one payment

2% — four payments

More than $3 million —10%

9% — one payment

2.5% — four payments

We have some tremendous deals out there at the moment and some are visible on the MLS and some are not.

If you have interest in Turks and Caicos Real Estate, contact one of our agents at RE/MAX ELITE

Given the recently strong exchange rate in favour of the Canadian Dollar versus the US Dollar long side an increased number of flights, we have seen a noticeable increase in the number of Canadians that are enquiring about property in the Turks and Caicos Islands. This is not the only reason.

It is interesting to note that just three years ago, we had a predominant number of Americans who were investing in the Turks and Caicos Islands and then after the collapse of Lehman Brothers and the inevitable commencement of the recession, we witnessed a gradual decline in the number of American buyers and a gradual increase in the number of Canadian buyers. I am British, as it happens and I am from Bradford in the north of England where it is fair to say, caution is exercised before spending any amount of money. However, with any recession, it brings opportunity and in the case of the TCI real estate industry, which has seen significant price reductions, we have a significant number of Canadian buyers that bring welcome cash.

As we find a great majority of American and British people in debt, due to the irresponsible lending institutions that had spent over a decade promoting high loan to value mortgages, we fall upon Canadians whose banks were more rigid in their lending practices and whose same customers now set to benefit from the bargains that lay before them. As we have ofter heard, more Millionaires are created in a recession than any other period and whilst it is only a personal opinion, I would estimate that within this crowd, we will see a good number of Canadians.

Simon Padgett, Broker, RE/MAX ELITE, Turks and Caicos

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 in the Turks and Caicos 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 the TCI, 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 Islands 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