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TCI Realtors sell over $290 Million despite COVID-bust to tourism

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#TurksandCaicos, February 8, 2021 – In reviewing the past decade of a buoyant real estate industry; 2020 surged ahead of 2018 as second best, according to the Market Report Year in Review Comparison published by Turks and Caicos Sotheby’s International Realty and it meant realtors banked an impressive $290,223,626 in sales despite the dismal impact of Covid-19 on travel.

“The 2020 TCI real estate market performed better than we ever could have hoped for in the context of COVID–19, a four-month country-wide shut down and stringent travel requirements,” informed the Market Report circulated in mid-January 2021, which added, “With airports and resorts closed, and most commercial planes not flying, the luxury market was, quite urgently, seeking out real estate!”

Resulting in record vacant land sales and multi-million dollar closes on signature properties in the British  overseas territory, the Report attributes the banner year to a reduction in stamp duty. 

The reduction was one of the Government’s revenue raising measures as the coronavirus pandemic robbed the country of critical tourism earnings.

“Quarter two, (led by the sale of a couple of a trophy properties and several new development villa sales) was also assisted by welcomed stimulus from the TCI Government with a concession halving stamp duty for the second quarter. This helped us close sales during this torturous time for our hotel, resort and villa rental partners grappling with the border’s closures. And this is really the first time in our history that our real estate industry has not been so directly tethered to tourism flow,” informed the Market Report.

The report, fueled by statistics from the Turks and Caicos Real Estate Association, (TCREA) informs that 323 listings brought in a whopping $290,223,626 in sales; an average of $898,525 per close.

Showcased as the most significant, big pay day sales for 2020 were:  Emerald Pavilion sold for $13 million; Bajacau sold for $18.8 million; Amanyara Villa 16 sold for $6.75 million; Dream Big Villa sold for $5.75 million; Long Bay House sold for $5.825 million and Cerulean for $4.8 million.

Land sales in 2020 topped 2019; the fourth best performance for Turks and Caicos in the past decade. 

The Turks and Caicos Market Report illustrated that over $63.2 million in vacant lots was earned from 168 listings.

It was a 4.4 percent increase over the year prior.

“Within the 168 sales there were 14 land sales over $1M and the overall average price, as noted on the graph, has experienced a slight increase. Nine beachfront parcels, three in Leeward and six in Long Bay transacted in 2020. The Bight experienced an uptick in sales which were predominantly along Leeward Highway. Leeward’s growth continues with construction throughout and continued land sales as noted below. Discovery Bay shows steady land sales and we predict this will increase with the plans for road pavement along with the recently launched new development, The Strand, in Cooper Jack. Long Bay was the winner again this year posting 42 land sales. The outer-islands recorded land sales in North, Middle, West Caicos, Grand Turk & Ambergris Cay.”

The Ministry of Finance reported increases as well for the public purse due to stamp duty. 

“Stamp Duty on Land Transactions for the quarter was $2.2 million and totaled $12.8 million at the end of the second quarter which was $3.4 million ahead of the estimates,” reported Premier Sharlene Robinson, TCI Minister of Finance in an October 27, 2020 update to the nation.

The 2020 Stamp Duty Waiver for real estate purchases was available from September 20th through to December 20th, and was offered in three tiers, namely:  a 75 percent reduction of stamp duty on property valued up to $2 million, made between September 21st and October 20th; a 50 percent reduction of stamp duty on property valued up to $2 million, made between October 21st and November 20th and a 25 percent reduction of stamp duty on property valued up to $2 million, made between November 21st and December 20th.

Fifty-seven condominiums were sold to top 2019; leading the sales were luxury condos at Grace Bay Club; The Palms;  Ocean Club; The Regent Grand and the Shore Club.

“Condominium sales performance finished the year end with a slight increase after the significant drop in sales volume last year. The average price increased by 37 percent due to the sale of several luxury re-sale condominiums. The sale-to-list ratio remained high at 92 percent and the overall-average price per square foot increased slightly to $488. The price per square foot for condominiums over $1M was $661 and over $3M was $780.”

Condo sales volume boomed by 15 percent after a review of 2020.

Interest continues to abound in 2021 for the alluring alternative life Turks and Caicos real estate listings offer, despite the end to stamp duty concessions. 

The Report explained the remarkable performance is due to these truths:  “They want quality, the ease-of-use and access and security, and are less motivated by rental income opting for personal use and long-term capital appreciation. As a Hamptons real estate agent said in early summer, “life plans changed in a weekend”, and while that may be an overstatement for this market, it is clear that buyers (and most existing TCI property owners) have put their umbrellas in the sand with a clear intention: They really want to be here!”

In Y2020, 93 private homes were sold; more than 16 of them sold for $3 million dollars and nearly 30 percent of those single family homes were in the villa development category.

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GOVERNMENT REVIEWING TENDER AFTER GRAND TURK–SOUTH CAICOS FLIGHTS STOP

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Turks and Caicos Islands – March 10, 2026 – Commercial flights between Grand Turk and South Caicos have been temporarily discontinued, leaving residents without a direct air link between the two islands since March 1.

The Turks and Caicos Islands Government confirmed the suspension in a statement Tuesday, explaining that the route — which operates under a government subsidy — is currently under review as officials reassess the tender process used to award the service.

The Ministry of Finance, Economic Development, Investment and Trade said the government is “working diligently to assess available options” to restore reliable air service between the islands as quickly as possible.

While the statement did not identify which airline had been operating the route, historically Caicos Express Airways and interCaribbean Airways have provided flights between South Caicos and Grand Turk using small twin-engine aircraft.

Officials acknowledged the disruption has caused concern among residents, noting that inter-island air travel is critical for access to essential services, business activity and government operations.

The government emphasized that the suspension does not affect flights between Grand Turk and Salt Cay, which continue to operate normally.

The review now underway will determine the next provider for the subsidized route. Authorities say the process must be conducted in a “fair, transparent and efficient manner” before service can resume.

For residents of the two islands, however, the immediate issue remains transportation — with many now forced to reroute through Providenciales or rely on limited sea travel until the air connection is restored.

Further updates are expected once the government completes its review and awards a new operating arrangement.

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Treasure Beach Village Opens at Beaches; Tourism Leaders Expect Surge in Bookings  

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PROVIDENCIALES, Turks and Caicos Islands — A major new chapter in Caribbean tourism has begun in the Turks and Caicos Islands with the opening of Treasure Beach Village at Beaches Turks and Caicos, a $150 million expansion expected to drive increased bookings, air arrivals and tourism earnings for the country.

The new oceanfront development, officially opened on February 28, adds 101 luxury multi-bedroom suites to the resort and introduces new dining, entertainment and family experiences designed to strengthen the destination’s position in the global luxury family vacation market.

Tourism officials and resort executives say the expansion is expected to generate greater demand for the destination, which in turn translates to more flights, more visitor spending and increased government revenue from hotel and tourism taxes.

The development is part of an ongoing investment strategy by Sandals Resorts International, which continues to expand the Beaches brand across the Caribbean.

Executive Chairman Adam Stewart described the opening as a powerful signal of confidence in the Turks and Caicos tourism product.

“This moment reflects a partnership between Sandals and the Turks and Caicos Islands that has been built over decades,” Stewart said during the opening celebrations. The new village, he added, builds on the brand’s reputation for creating multi-generational travel experiences where families reconnect and spend meaningful time together.

The resort expansion reinforces Beaches’ reputation as the world’s leading luxury all-inclusive resort brand for families, and Beaches Turks and Caicos continues to stand as one of the Caribbean’s most prestigious properties.

Government officials attending the ribbon-cutting ceremony, including Tourism Minister Zhavargo Jolly, said the investment strengthens the destination’s international standing and highlights continued confidence in the Turks and Caicos Islands as a premier tourism market.

The new village significantly expands the resort’s accommodation offerings with spacious ocean-view suites and high-end villas designed to host larger families and groups. The property now includes luxury options such as the CrystalSky four-bedroom beachfront villas and a multi-level Chairman’s Penthouse suite capable of accommodating up to ten guests.

Treasure Beach Village also introduces six new dining concepts, including the Pinta Food Hall with multiple global cuisine stations and Butch’s Island Chop House, a signature steakhouse previously exclusive to the Sandals brand.

Additional amenities include a 15,000-square-foot lagoon pool, waterslides and splash zones for children, a swim-up bar, and the brand’s first Starfish Cinema, a theatre designed for family movie nights.

Guests staying in the new village will also have access to the full Beaches Turks and Caicos experience, including 28 restaurants, the 45,000-square-foot Pirates Island Water Park, unlimited water sports and supervised children’s programmes.

Industry observers say the investment not only enhances the visitor experience but also strengthens Turks and Caicos’ reputation as one of the Caribbean’s most sought-after luxury destinations.

 

Angle by Deandrea Hamilton. Built with ChatGPT (AI). Magnetic Media — CAPTURING LIFE.

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Education

Message from Hon. Rachel M. Taylor, Minister of Education, Youth, Sports & Culture

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Providenciales, Turks and Caicos Islands – Friday, 6 March 2026: Education is the most powerful weapon which you can use to change the world.”  Today, as we observe National Teachers’ Day, we pause to recognize and celebrate the remarkable contributions of our teachers and the dedicated leaders of our schools. Your commitment to shaping young minds, guiding character, and nurturing potential is a calling that reaches far beyond the classroom. Proverbs 22:6 reminds us, “Train up a child in the way he should go, and when he is old he will not depart from it.”  Your daily efforts reflect the truth and wisdom of these words.

We also extend sincere appreciation to the leaders of our schools whose vision, guidance, and steady leadership create environments where both teachers and students can flourish. Your role in supporting educators and maintaining strong, positive learning communities is invaluable to the continued progress of our education system.

Teaching is not without its challenges. Yet, even in moments of stress and difficulty, our teachers continue to demonstrate genuine love, patience, and concern for their students. For this, we are deeply grateful. Your compassion, encouragement, and dedication help our children feel seen, valued, and inspired to reach their full potential. Truly, to teach is indeed to touch lives forever.

Education is strongest when it is supported by partnership. We must also recognize the important role of parents and families in the success of our children. When schools and homes work together, the results are powerful. As we often say, when parents lead, children succeed. This shared commitment creates a strong foundation for learning and growth.

As a Department and Ministry of Education, we reaffirm our commitment to supporting our teachers and school leaders. We will continue to invest in meaningful professional development, provide the resources necessary for effective teaching and learning, and strengthen the systems that empower educators to thrive in their profession. Your work matters deeply, and we remain dedicated to ensuring you have the support needed to continue making a lasting difference.

On behalf of the Ministry of Education, I thank you. Thank you for your dedication, your resilience, your leadership, and for the love and care you show to our children each and every day. Today we celebrate you and the incredible impact you have on our nation’s future.

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