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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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Six Unauthorised Structures Demolished During Multi-Agency Planning Enforcement Operation

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Before demolition

After demolition

Providenciales, Turks and Caicos Islands – Friday, 17 July 2026: The Planning Department, with support from the Informal Settlements Unit (ISU), and the Crown Land Unit conducted a coordinated enforcement operation on Thursday, 2 July 2026, resulting in the demolition of six unauthorised structures on private property at Block and Parcel 60502/48. Security for the operation was provided by the Royal Turks and Caicos Islands Police Force.

The enforcement action followed the issuance of an Enforcement Notice by the Planning Department on 29 January 2026, advising the persons responsible for the structures that they had been erected without the necessary planning approval and were required to be removed. Following the expiration of the compliance period, a multi-agency operation was organised to carry out the demolition.

Before demolition activities commenced, personnel conducted a comprehensive inspection of the site to confirm that all structures were unoccupied and free of gas cylinders or other hazardous materials. These precautionary measures were undertaken to safeguard the welfare of both the enforcement teams and the public while ensuring the operation was carried out safely and efficiently.

Upon completion of the exercise, participating agencies returned to Police Tactical Headquarters for a debrief, marking the successful conclusion of another coordinated enforcement effort.

The Government of the Turks and Caicos Islands reminds members of the public that all construction activities must receive the appropriate planning approvals before work begins. The Planning Department will continue to work alongside its partner agencies to enforce the Planning Ordinance, promote orderly development and ensure that construction throughout the Islands complies with the applicable laws and regulations.

Members of the public are encouraged to familiarise themselves with the planning approval process and to seek guidance from the Planning Department before undertaking any development to avoid enforcement action and loss of money invested.

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DDME’s Hurricane Hunt Scavenger Hunt Sparks Community Spirit and Storm Preparedness in Providenciales

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Department of Disaster Management and Emergencies: Providenciales, Turks and Caicos Islands — Fifteen teams raced across Providenciales on Saturday July 4th for the inaugural DDME Hurricane Hunt, a community scavenger hunt designed to combine friendly competition with hurricane preparedness education.

Teams were given a bag of supplies and 15 cryptic clues, participants had less than two hours to pinpoint locations and collect hurricane must-haves; including water jugs, shovels, flashlights and other supplies that every household should have on hand ahead of a storm.

The challenge tested not only participants’ local knowledge and navigation skills, but also their teamwork under time pressure; all while reinforcing practical lessons about what it takes to stay ready when a storm approaches.

Beyond the hunt itself, the event drew a lively crowd of families and supporters who turned out to enjoy a full day of festivities. Attendees took part in games, received free gifts, face painting, canvas painting, bounce houses and visited vendor booths; while enjoying fresh food off the grill throughout the afternoon.

“This event brought together the best of both worlds; a fun, high-energy competition and a meaningful reminder of how important it is for our community to be prepared,” Mr. Aaron Ballantyne, Community Preparedness Officer for Providenciales. “Seeing 15 teams fully engaged, racing to landmarks across the island while learning what belongs in a hurricane kit, was exactly the outcome we hoped for.”

DDME extends their sincere gratitude to the stakeholders that partnered with the event and generously donated their time, resources and efforts to make it a success: The Turks and Caicos Islands Red Cross, The Oseta Jolly Primary School, The Royal Turks and Caicos Islands Police Force, Do It Center (Building Materials), KB Homes, Digicel TCI, Frost Cay and Clint Grilling and Catering Services, along with all other vendors who were solicited.

The event’s success was also made possible by the private organizations and government departments that opened their locations to serve as scavenger hunt sites, allowing the hunt to unfold across the island; from Chalk Sound to Long Bay.

The quick thinking first place team consisted of; Neekimo King, Keturah Miller-Brown, Lashaunda Dickenson and Kebba Thomas who all walked away with exciting prizes.

Ms. Bernadya Smith, Public Information and Media Manager stated; “With hurricane season underway, this event, along with our recent Hurricane Expo held in Grand Turk and community pop-ups throughout the country, is a testament to DDME’s commitment to blending community engagement with year-round storm readiness. We look forward to making this event an annual staple that brings families together while keeping preparedness at the forefront of every community we serve.

Follow DDME social media pages to stay up to date with upcoming events and to join their weekly quizzes for a chance to win exciting prizes all hurricane season long.

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Invest TCI Supports Certification of Local Flats Fishing Guides Through MSME Technical Assistance Under Historic TCFFA–TCICC Partnership

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Providenciales, Turks and Caicos Islands — June 11th   2026 — Invest Turks and Caicos Islands has confirmed a financial commitment of $26,750 through the MSME Programme’s Technical Assistance support to assist 35 participants undertaking STCW and Fly-Fishing Guide Certifications under the Turks and Caicos Fly Fishing Association (TCFFA) and the Turks and Caicos Islands Community College (TCICC) partnership. The support is intended to strengthen the capacity of existing and emerging local operators within the flats-fishing and marine–based tourism sector, helping participants formalize their skills, improve service standards, and access higher-value economic opportunities.

The announcement follows the signing of a Memorandum of Understanding between TCFFA and TCICC on 12th May 2026, establishing the country’s first endorsed and regionally recognized Sustainable Fly-Fishing curriculum. That partnership, funded in part by the UK Government through the Darwin Plus Local initiative, aims to certify twenty or more Turks and Caicos Islanders as Flats-Fishing Guides and Train-The-Trainers — drawn from Providenciales, North Caicos, South Caicos, Middle Caicos, and Grand Turk.

Invest TCI’s contribution ensures that the financial barrier to certification does not prevent qualified candidates from accessing this sector-building opportunity. The support is being provided as technical assistance to strengthen the capacity of existing and emerging MSMEs within the flats-fishing and marine-based tourism sector, enabling participants to formalize, improve service standards, and access higher-value market opportunities.

“We are indeed happy to be a part of this initiative and to provide financial support towards the certification of the 35 participants. Invest TCI is committed to empowering small and medium enterprises and the individuals who drive them – and this programme is a direct example of that commitment in action.” — Alexa Cooper, Vice President – SME Development, Invest Turks and Caicos

Regional studies, including research on The Bahamas’ flats-fishing sector, show that the industry can generate significant economic value through lodging, meals, transport, retail, and guided services. This demonstrates the potential for Turks and Caicos to strengthen its own flats-fishing value chain through professional training, certification, and local enterprise development.

Angela Musgrove, CEO of Invest Turks and Caicos, highlighted the strategic alignment between the investment and Invest TCI’s broader mission:

“Invest TCI’s mandate is to support a stronger, more diversified economy with Turks and Caicos Islanders positioned to benefit from the industries that shape our future. This initiative directly aligns with that mandate. By supporting certification for local flats-fishing guides, we are helping to convert local knowledge into recognized credentials, strengthen small business capacity, and retain more value within our communities. It is a practical investment in people, enterprise, and sector development.” — Angela Musgrove, CEO, Invest Turks and Caicos

TCFFA President Levardo Talbot, whose association initiated the candidacy process and identified the funded participants, welcomed Invest TCI’s commitment as pivotal to the programme’s reach:

“For the first time, Turks and Caicos Islander fly fishing guides have an endorsed and regionally-recognized, locally delivered pathway into a profession that has long been built on their knowledge but not always on their terms. Invest TCI’s support ensures the people who should be in this room are in this room.” — Levardo Talbot, President, Turks and Caicos Fly Fishing Association

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