Connect with us

News

TCI Real Estate Market Skyrockets in Q1; $128 MILLION in transactions

Published

on

#TurksandCaicos, May 3, 2021 – After more than a year of detrimental Covid-19 impact on the TCI economy, all is not lost for the real estate sector. Following a murkier fourth quarter in 2020, the industry has locked in a phenomenal profit in the first quarter of 2021. 

According to Turks & Caicos Sotheby’s International Realty quarterly report, TCI Real estate market has just closed a record-breaking quarter of business with nearly $128 million in closed transactions, up 60 per cent over the same period last year with average price increases across each sector.

There are over $463 million in pending and conditional transactions, leaving out another circa $100M in new development sales. This includes sales at the Ritz-Carlton Residences set to open this summer, South Bank, Beach Enclave, Rock House, The Strand, and other new development projects underway.

While other tourism-dependent businesses have to keep up with the flopping profits, the impressive performance in the TCI real estate industry can be attributed to some underlying factors.

According to the report, Turks and Caicos is one of the tourist destinations endorsed by most ultra-luxury and luxury markets in the post-Covid era as a preferred warm weather destination. Besides that, a vacation property has now become not only a lifestyle investment, but also a life investment. 

A vacation property is always an integral part of work, play, and community, contributing to the overall growth of the market to another level.  

The Market Report said, since the Turks and Caicos government opened its borders to international tourism on July 22, 2020, the authorities and TC Hotel & Tourism Association have worked diligently with close collaboration to ensure both the community and the visitors streaming into the islands remain safe. 

Since the government instituted critical measures, robust mass testing, and boosted vaccination efforts, TCI has become a global leader with at least 43 per cent of the adult population vaccinated. 

While other countries closed their borders for tourism, it was to the country’s advantage to remain open, leading to a significantly busy spring for the resorts and tour operators.

The Sotheby’s first-quarter report also stated that second homeowners had enjoyed the extended stays this winter, too, in this Turks & Caicos safe-haven. 

According to the Sotheby’s report, the company made sales of up to $10M at Villa Chill, $6.975M from Lizard Lounge, $5.5M from Amanyara Villa 15, 5.75M  from  Beach Enclave Long Bay V5, $5.39M from Beach Enclave Long Bay V7, and $4.95M from the Shore Club Penthouse in the first quarter of 2021. 

Overall, Turks & Caicos Islands real estate made sales of up to 73,777,000 in single family homes, $28,802,000 in Condominiums, and $26,816,499 in the land (Residential and commercial) in the first quarter of 2021, according to data retrieved by TCSIR from the TCREEA ML Systems on April 12, 2021.

News

ELECTRICITY BILL SHOCKER: PELICAN ENERGY WARNED GOV’T

Published

on

TCIG knew from April that fuel factor could surge almost 80%; Minister says $500 cost-of-living payment was part of Government’s response

PROVIDENCIALES — The Turks and Caicos Government knew months before July’s shocking electricity bills that consumers faced a potentially massive increase in the fuel factor.

Minister of Information Technology and Energy E. Jay Saunders revealed Friday that Pelican Energy warned his Ministry in April that generation fuel costs were projected to rise from $3.09 per gallon in May to $4.79 in June and July.

That translated into a projected fuel factor jump from about 17.5 cents to 31 cents per kilowatt-hour — an increase of almost 80%.

Saunders said he personally advised Cabinet of the projected increase and presented options for cushioning the impact.

He characterised Government’s $500 cost-of-living payment as its “initial response” to rising fuel costs, before a separate fuel-factor subsidy was approved.

Cabinet records show Government agreed on June 24 to provide funding to mitigate the fuel-factor impact, with the relief programme approved July 8.

Eligible residential customers — those averaging less than $1,500 monthly over the previous three bills — are capped at 22 cents per kWh from July through October.

Pelican confirmed Friday that Government’s contribution was already applied to July bills, meaning the bills now triggering widespread public outrage would have been even higher without the subsidy.

Saunders did not disclose the programme’s total cost.

His admission that Government knew since April, however, raises another question amid the backlash: why were consumers not directly warned by Government about the scale of the approaching increase?

Continue Reading

Bahamas News

More Bahamians Accessing HIV, STI Care Through NHI

Published

on

NASSAU, Bahamas — More Bahamians are accessing HIV and sexually transmitted infection-related healthcare through National Health Insurance, a trend the NHI Authority says should be viewed positively.

NHIA stressed in an August 6 statement that its 2025 figures measure healthcare utilisation, not newly diagnosed infections. They include beneficiaries screened, treated, monitored or receiving follow-up care, including people diagnosed previously.

“Increased utilisation of these services should be viewed as a positive development,” NHIA said.

The Authority pointed to “greater enrolment and use of NHI, improved access to screening and testing, continued treatment and monitoring of existing conditions, and increased willingness to seek medical care.”

The development comes amid a mixed three-year HIV picture. New diagnoses rose from 130 in 2023 to 156 in 2024, before declining to 142 in 2025.

NHIA said increased utilisation demonstrates that more beneficiaries are accessing needed healthcare and actively managing their health, reinforcing the importance of screening, early diagnosis and continued treatment.

Continue Reading

Health

47,459 MEASLES CASES, 44 DEATHS ACROSS AMERICAS  

Published

on

WASHINGTON, D.C. — The Americas has recorded 47,459 confirmed measles cases and 44 deaths in 2026, the region’s highest case count in 22 years, prompting the Pan American Health Organization (PAHO) to urge stronger vaccination, surveillance and rapid outbreak response.

As of July 18, cases were already more than triple the 15,011 recorded during all of 2025. Guatemala, Mexico, the United States and Peru account for 95% of confirmed cases. Guatemala leads with 30,371 cases and 26 deaths, followed by Mexico with 12,255 cases and 17 deaths.

PAHO classifies the regional public health risk as very high, citing active outbreaks, immunity gaps, international travel and populations with inadequate vaccination coverage.

The organization says prevention starts with vaccination. Countries are being urged to achieve and maintain at least 95% coverage with two doses of measles-containing vaccine, particularly protecting children and under-vaccinated communities.

Measles spreads through the air when an infected person breathes, coughs or sneezes. Symptoms can include fever, cough, runny nose, red eyes and a rash.

PAHO is urging health authorities to detect suspected cases early and respond rapidly to stop transmission. Unvaccinated and under-vaccinated people, young children and communities with limited healthcare access face increased risk of severe illness and death.

Continue Reading

FIND US ON FACEBOOK

TRENDING