Turks & Caicos Islands Real Estate Winter/Spring 2019/20

Ritz-Carlton and Aman, two of which are currently represented
in TCI.
The Grace Bay Resorts group has become somewhat
of its own brand in the TCI. Starting off with the iconic
Grace Bay Club in the early 1990s, the group has expanded
significantly and is now associated with other resort (West
Bay Club, Point Grace, Rock House, South Bank) and
private villa rental (The Residences, The Dunes, La Dolce
Vita and Blue Cay Estates) options in the TCI. They continue
to actively expand the brand by offering services to
boutique property owners seeking a level of service professionalism
that is achieved in large brands, while remaining
true to their own spirit of hospitality.
Vacation rental market
It’s clear that the short-term, vacation rental market is here
to stay, with many of the new construction projects (or
renovation of older, “first generation” properties) gearing
to reach that lucrative group. Thanks to platforms such
as Airbnb, HomeAway and VRBO, it is becoming easier
to both enjoy a second home in the Islands and make a
profit. Accommodation can be marketed, searched for,
rented and managed in faster, cheaper and more effective
ways, revolutioninzing the industry.
Broadband, balconies and beaches are the top three
property features desired by buyers (all quite prevalent in
the TCI). They are also an increasing source of demand
for property management services as well as on-theground
hosting/hospitality/housekeeping services. This,
too, is an ever-growing sector of the tourism market in
the Turks & Caicos Islands.
Anyone who has tried to “book” a construction or renovation
project, or even a simple home repair or upgrade,
will see that the construction industry and all involved are
working at top capacity. Villa enclaves and new homes
seemingly pop up everywhere, built on recently sold land
parcels for which the market remains steady. In addition,
high-end land purchasers who desired to build from
scratch, or who could not find a home/villa that fit their
needs, have endeavored to build their custom dream vacation
homes, relying on the expertise of local architects,
builders and consultants.
Keeping it green
With all the growth and development going on, it’s good
to know that both the TCI government and local population
are paying attention to the environment. There’s no
doubt that the long stretches of fine ivory sand, shimmering
turquoise seas, clear blue skies and gleaming sunshine,
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