WINTER SUN FOCUS: TURKS & CAICOS ISLANDS
Invest in a piece of paradise
It’s no longer just Americans dipping their toes in the Turks and Caicos property market, reports Katie Gutteridge
U
ntil recently, the Turks and Caicos Islands (TCI) was a place only visited by privileged Americans visiting from New York or Miami, keen to dip
their toes in the calm coral-fi lled aquamarine Caribbean waters – and maybe take advantage of its tax-haven status. It’s easy to see the allure: the sun is nearly
always shining, the average temperature is 830F and there are miles of award-winning powder-sand beaches on the doorstep. Not to mention the third largest coral reef system in the world, making it a premiere water sports destination. But its appeal is broadening, with the
expansion of its main international airport on Providenciales - providing direct fl ights from more destinations, including New York and Toronto - TCI welcomed over one million visitors last year, a fi gure increasing year on year. British Airways fl ies weekly from London on a nine-hour fl ight via Nassau, costing from around £700 return. According to the offi cial government
website, (
turksandcaicostourism.com) for the fi rst quarter of 2014 alone tourism fi gures have jumped 41 per cent compared with the same period in 2013, with arrivals from the United Kingdom and France increasing by 17 per cent and 86 per cent respectively. Stop-over arrivals from Italy have also more than doubled. Holiday-home purchase is of course the
fi nal stage of tourism and the same website mentioned above cites that TCI boasts ‘one of the fastest growing economies in the Caribbean’. Investment opportunities there haven’t been so good for a decade. Close to T e Bahamas and only a 1.5 hour
Turks and Caicos Islands, Providenciales, Grace Bay Beach, Boardwalk over a sea
fl ight from Miami, the main island of Providenciales (Provo), has one of the lowest crime rates in the Caribbean. Whether you’re an investor looking for a rental return, a self-builder wanting a project, or a sun- worshipper aſt er a permanent place to hang your hammock, there are plenty of opportunities to choose from. Although a British Overseas Territory,
TCI is still managed by local authorities, who have just increased the visitor allowance from 30 days to up to 90 days upon arrival, with extended stays possible if you buy there. Although made up of 40 cays and islands, just eight are inhabited, including rustic North and Middle Caicos. T ese two islands are growing in popularity due to their more authentic Caribbean charm and tiny combined population of less than 2,000. Both are within easy reach on the fast twice- daily ferry from Provo.
Cays of all kinds Of all the outer islands, Pine Cay and Parrot Cay are the most desirable and notoriously luxurious. With just a handful of
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