June Turks and Caicos Real Estate Update
June is upon us already – what an active year so far in Turks and Caicos Islands.
We have enjoyed many new visitors to our islands, many of them Canadians.
The Canadian airlines, Air Canada and West Jet have been providing up to six flights a week from major eastern cities of Toronto, Ottawa and Montreal. Those flights have been cut back with the end of our busy season to two to three flights a week between West Jet and Air Canada. Next season there is rumor that we will see direct flights from western Canada cities.
The airport runway extension contract has been approved and work is scheduled to start mid June, early July and be completed early 2011.
Canadians are enjoying a very healthy economy and good exchange rate with the American dollar so in turn are enjoying their prosperity by visiting Turks and Caicos beautiful beaches, lovely private villas, hotels/condo and our many world class restaurants. Diving, fishing, golf and ever popular kite boarding are just a few of the activities being enjoyed by both new and seasoned visitors.
Spas and fitness centers are reporting that our visitors are enjoying the ambience and the full treatments offered in the facilities. There are seven fitness centers and most condo hotels have their own spa.
Returning visitors are seeing our economy improve from last year, there is more shopping in the Grace Bay area with upcoming additions of two new jewelry stores, a new bank and a high end ladies clothing shop. These will be within walking distance of the Grace Bay Beach condominiums and hotels.
Turks and Caicos Beachfront homes were featured recently on House Hunters International, watch for replay on June 7 at 10:30 p.m.
Trip Advisor readers survey recently voted Turks and Caicos Island #1 in the world for Sun Destination and #8 Overall Destination worldwide.
The real estate market is showing marked improvement with healthy sales in March, April and May. Investors as well as first time home owners are finding banks have money to lend and interest rates are excellent.
Real Estate Prices have been lowered to 2004/05 level so those that have been saying for the last five or six years “I should have bought then”, should buy now or you will be saying the same thing one year from now…
The Turks and Caicos Government has announced an buyer incentive by offering a lower rate of Stamp Duty on purchases, plus an option to pay, if you wish to pay full Stamp Duty at time of closing you will receive a 10% discount; the second option is to pay a set percentage over a 4 year period. Please see Stamp Duty Rates on our website www.eraturksandcaicos.com
We have enjoyed many new visitors to our islands, many of them Canadians.
The Canadian airlines, Air Canada and West Jet have been providing up to six flights a week from major eastern cities of Toronto, Ottawa and Montreal. Those flights have been cut back with the end of our busy season to two to three flights a week between West Jet and Air Canada. Next season there is rumor that we will see direct flights from western Canada cities.
The airport runway extension contract has been approved and work is scheduled to start mid June, early July and be completed early 2011.
Canadians are enjoying a very healthy economy and good exchange rate with the American dollar so in turn are enjoying their prosperity by visiting Turks and Caicos beautiful beaches, lovely private villas, hotels/condo and our many world class restaurants. Diving, fishing, golf and ever popular kite boarding are just a few of the activities being enjoyed by both new and seasoned visitors.
Spas and fitness centers are reporting that our visitors are enjoying the ambience and the full treatments offered in the facilities. There are seven fitness centers and most condo hotels have their own spa.
Returning visitors are seeing our economy improve from last year, there is more shopping in the Grace Bay area with upcoming additions of two new jewelry stores, a new bank and a high end ladies clothing shop. These will be within walking distance of the Grace Bay Beach condominiums and hotels.
Turks and Caicos Beachfront homes were featured recently on House Hunters International, watch for replay on June 7 at 10:30 p.m.
Trip Advisor readers survey recently voted Turks and Caicos Island #1 in the world for Sun Destination and #8 Overall Destination worldwide.
The real estate market is showing marked improvement with healthy sales in March, April and May. Investors as well as first time home owners are finding banks have money to lend and interest rates are excellent.
Real Estate Prices have been lowered to 2004/05 level so those that have been saying for the last five or six years “I should have bought then”, should buy now or you will be saying the same thing one year from now…
The Turks and Caicos Government has announced an buyer incentive by offering a lower rate of Stamp Duty on purchases, plus an option to pay, if you wish to pay full Stamp Duty at time of closing you will receive a 10% discount; the second option is to pay a set percentage over a 4 year period. Please see Stamp Duty Rates on our website www.eraturksandcaicos.com