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.

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

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.

The Turks and Caicos Islands in recent times has surfaced as an amazing vacation destination with white sandy beaches, a friendly atmosphere and excellent weather, just what every holidaymaker seeks for their well deserved vacation. What many people do not see while they are here on vacation is the number of foreign nationals and locals who invest in real estate in this beautiful country.

Purchasing real estate is not a light-hearted decision under any circumstances, so being well prepared to make the decision and then turn it into reality is extremely important. For a select few, purchasing real estate with cash savings avoids the need for them to seek financing, however the majority of purchasers require financing to make the purchase of real estate possible. To make the process of searching for real estate in the Turks and Caicos Islands less hurried and hectic, always seek pre-approved financing prior to embarking on the journey of selecting your property in the sun.

At Scotiabank, our aim is to sit down with potential purchasers and together gain a full understanding of the type of property the purchaser is searching for and in conjunction with the financial information shared with and confirmed by Scotiabank the amount of financing the purchaser can be qualified for is determined. With this knowledge in hand the purchaser has the freedom to work with their Real Estate Professional to locate the best suited property in their price range and make an offer with confidence.

To obtain a pre-approved mortgage from Scotiabank the first step for the purchaser is to meet with a Sales Representative to discuss their current financial situation, this starts with determining how much they earn and own as assets compared with how much they owe in payments on a monthly basis. From here Scotiabank works with each purchaser to approve the maximum amount of financing available while ensuring that the amount of financing obtained will not create any stress on the financial situation of the purchaser.

No matter when you intend to purchase real estate, always have the confidence and assurance that the financial aspects of the purchase has been sorted in the early stages to leave more time to spend with the Real Estate Professional to locate the property that will one day be yours here in the Turks and Caicos Islands.

For more information, please contact RE/MAX at 1.649.941.3394 or, if you prefer, see our other intact information here.

Or see the Scotiabank website for more information.

RE/MAX ELITE in the Turks and Caicos is delighted to have secured the listing of three condominium units at the Luxury Somerset Condo Hotel Resort.

The Somerset in Grace Bay is the height of luxury and has been a haunt for a number of A-List Celebrities who have stayed at the resort, since its opening in 2006.

As a fortunate member of the Small Luxury Hotels of the World, The Somerset offers its guests a varied number of accommodation types ranging from Villas, condos and Cottages that make up the 53 suites.

Amenities at the resort extend to 300ft of stunning Grace Baybeachfront, two breathtaking pools including a lap pool, Croquet lawn, fitness centre, steam room, a fine dining restaurant (O’Soleil) and poolside lunchtime bar (LunaSea). In room Spa services can also be arranged.

Simon Padgett, Broker of RE/MAX ELITE explained that the three luxury condominiums, including a sumptuous 5300sf two story penthouse are attractive listings for the market, particularly as the developer has reduced the pricing by 20 %, compared to comparable condominiums that were priced in 2008 at the resort.

In addition to marketing these properties, RE/MAX ELITE have agreed with the Somerset to have a sales desk based in reception for the needs of their guests.

Anyone interested in further details on any of the condominiums on offer, should contact the RE/MAX ELITE office.