TCI Real Estate pulls in $200 Million more, Another Record Year  

By Dana Malcolm 

Staff Writer  

#TurksandCaicos, April 11, 2023 – With 603 total sales, more than $760 million worth of real estate was traded in the TCI in 2022.  The numbers courtesy of The Agency Turks and Caicos reveal that the $765,642,714 in revenue was an extraordinary $200 million increase over the $563 million made in 2021.

The value of real estate in the country shot up with the average 2022 prices for luxury homes at $1.2 million, a $200 thousand increase over 2021.  The number of sales in 2021 was 550, another record 2022 managed to crush. 

Single family homes were the biggest sellers last year accounting for $365 million of total revenue up from $215 million in 2021.  The number of those units sold is 155, with an average price of $2.3 million.

Condos brought in a chunk of change as well, 165 sales accounted for $226 million in revenue, a $55 million dollar increase over 2021 with an average price of $1.3 million.

Vacant land was the most popular item for investors by far with 250 sales amounting to $145 million dollars in revenue, a slight increase over the $144 million banked in 2021, but an increase nonetheless.

For the third year, the Turks and Caicos can declare that it is a banner season for real estate yet again proving that interest, especially luxury interest in the Turks and Caicos, is not only sustained but growing and real estate is more valuable than ever.