Turks & Caicos Islands Real Estate Summer/Fall 2019

On South Caicos, the renovation of the airport is
well underway, supporting visitor arrivals to the thriving
Sailrock and East Bay resorts there. Sailrock is South
Caicos’ premier luxury resort nestled along the island’s
pristine beaches, thriving coral reefs and miles of undiscovered
land. Completed are 31 luxury Ridgetop Suites
and Beachfront Villas, supported by two restaurants, an
infinity pool and a newly opened spa. Sailrock is also
working with government to enhance the community,
playing a leading role in restoring historic structures in
Cockburn Harbour and revitalizing the Queen’s Parade
Grounds—the waterfront site of Queen Elizabeth’s visit
to South Caicos in 1966.
Grand Turk is stepping forward with new community
initiatives, supported by the cruise ship port. North
and Middle Caicos remain quiet and tranquil destinations,
steeped in nature, with a wide and varied selection of
property available. The causeway linking the two islands
is ten years old now, and has encouraged a sense of community
between them. North Caicos continues to expand
with new businesses and a hotel is due to commence
construction at Sandy Point. Government investment is
used to upgrade infrastructure with beach improvements,
new health clinics and continued repairs at the schools.
Middle Caicos’ mostly-elderly population is shrinking,
but day tourism remains strong, as visitors seek to explore
the spectacular beaches, rugged shorelines and fascinating
caves and sample native handicrafts and cuisine.
Economic Growth
According to a report by the Caribbean Development
Bank, TCI’s real gross domestic product (GDP) is estimated
to have grown by 2.6% in 2018. The main driver
was construction. Value added in this sector increased by
10%, buoyed primarily by large scale tourism projects.
A firm recovery in tourism after the first quarter of the
year was supported by the reopening of hotels following
the 2017 hurricanes. Stayover arrivals increased by 10%
to 458,100 visitors for the full year 2018 (estimated by
the Economist Intelligence Unit) and cruise ship arrivals
increased by 23.5% to 1,000,000 visitors. New services by
interCaribbean Airways connecting Salt Cay, Grand Turk
and South Caicos contributed to increased connectivity
between the islands. Additional airlift from American
Airlines and Delta in late 2018 is expected to bring a
higher number of tourist arrivals in 2019.
So don’t delay — act now to create your “happy place”
in the Turks & Caicos Islands. Talk to one of the many
TCREA brokers and agents listed in these pages. v
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Visit us on-line at www.tcrea.com Summer/Fall 2019 29