For all of its challenges, 2021 has seen the South Bank family grow as people choose to call our relaxed and soulful marina community home. As South Bank comes to life with over 50 sales and reservations, we have elected to take the time to focus on construction, ensuring the highest level of service and quality for our owners. To achieve this, we will be pausing sales until the upcoming winter season.
Link here to view construction updates for each neighbourhood in South Bank.
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Turks & Caicos Real Estate Sales Continue at a Breakneck Pace!
The TCI real estate market is seemingly ‘too hot to handle’ as we witness yet another record-breaking quarter in sales volume along with pending/under construction sales not recorded within this amount! This first half of the year has just closed out with a staggering $328M in sales volume which is normally TCI’s yearly sales volume – in a very strong year! That’s a 105% increase over last years 2nd Quarter with an average price increase of 26%. All segments of the market saw increases contributing to this incredible spike in sales. Significant sales noted in this 2ndQ were, Turtle Tail Estate $20.25M, Villa Salacia $16M, Casa Tremer $7.995M, and The Estate at Grace Bay Club G504 $5M.
The tourism industry is also witnessing record numbers in occupancy during this time as Turks & Caicos continues to flourish and to fulfill its destiny as a leading and premiere upscale destination in the Caribbean. The resilient Turks & Caicos real estate and tourism market has sustained economic growth and real estate sales for the past eight years, and we expect to see continued growth, with new and exciting projects in the pipeline. To continue reading, click link to download full report.
With 60% of the Boathouses now reserved and sold, the site preparations are well under way to allow for a commencement of the foundation works by the end of August. The ground levels of the Boathouse Peninsula have been raised to the final floor slab level and the excavation of the adjacent yacht basin are complete.
While Building A is fully sold out and only one corner unit remains, the Buildings B through E are also enjoying strong demand.
With start of construction, all 2 bedroom Boathouses are now offered with the rooftop terraces included. Additional square footage has been factored into the rooftop design making it over 600 sq. ft. in size. The possibility of offering an adjoining door between the two units to create a total of 5 bedrooms remains.
Prices range from $885,000 – $1,350,000.
The Lagoon Fully Sold Out
With the Lagoon neighorhood fully sold out, construction is well underway. Eleven villas have commenced, and by the end of August all eighteen will be under construction scheduled for completion by end of Q4 2022.
The Lagoon islands have been created and landscaped and gym and spa buildings will follow in due course.
Ocean Estate Over 60% Sold Out
South Bank is pleased to announce that over 60% of the Ocean Estate villas are sold out, with only one or two of each villa design remaining.
Construction at Ocean Estate Bluff Villa 03 and Shoal Villa 04 is underway with foundations poured and signature pool footings installed. Shoal Villa 08 will be complete in the Fall. Shoal Villa 11, 12, 15 and Reef Villa 17 site clearings are scheduled imminently and Banks Villa 16 is nearing ground floor level completion.
Turtle Tail Estate is a dynamic, spectacular villa compound to completely fall in love with and is without peer on Providenciales, Turks & Caicos. Over the past few years, Turtle Tail Estate has welcomed a myriad of high-profile international travelers, offering complete privacy and seclusion It combines the personalization of a custom home with the amenities of an ultra-luxury resort, elevated on a magnificent private 4.57 acre peninsula all its own. This extremely well managed family resort-like retreat with beautifully landscaped grounds, gardens and protected sandy shore provides an opportunity for immediate gratification to its new owner, with the opportunity for expansion if desired.
States President and Broker Joe Zahm: “It has been a career highlight for my partner Nina Siegenthaler and me to successfully list and sell this iconic property, which has often been seen globally throughout the real estate world and on social media. It has been a true labor of love.”
Turtle Tail Estate sold this week for $20.25M, the largest residential sale recorded so far this year for the Turks & Caicos Islands.
Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay, Providenciales
Following a breathtaking fourth quarter of 2020, the TCI real estate market has just closed an historical quarter of business with nearly $128,000,000 in closed transactions, up 60% over the same period last year with average price increases across each sector. What’s more, there are over $463,000,000 (you read that right!) in pending and conditional transactions and this leaves out another circa $100M in new development sales at the Ritz-Carlton Residences (set to open this summer), South Bank, Beach Enclave, Rock House, The Strand and other new Development projects.
There is a lot to unpack. First, it is clear for the post-COVID world that ultra-luxury and luxury markets have fully endorsed Turks & Caicos Islands as a preferred warm weather destination. Also, a vacation property is now much more than simply a lifestyle investment, but a life investment and often an integral part of work, play and community, contributing to taking our market to the next level. To continue reading, click link to download full report.
We’re all familiar with the trademarks of traditional Caribbean architecture. Wrap around verandahs, louvered windows, stone walls, arched doorways and colourful shutters functioning as both embellishment and protection. These homes have long served as staples of our history, peppering the shorelines and hilltops of Providenciales, from the original settlements, to the first wave of foreigner migration to T&C’s shores, with builds pioneered by the Ward family.
With development now taking on more of a steady rolling swell, rather than a crest with peaks and troughs, the last decade of T&C’s home design has seen the emergence of a more contemporary aesthetic. As a personal example I (FINALLY) made the transition from an open air home with louvered windows and gorgeous breezes through most of the year, to hurricane rated glass windows and an eco-friendly air condition system 🙂 As an avid lover of traditional Caribbean design, I never thought I’d say this, but I haven’t looked back since.
My example is a humble residential perspective of someone who feels deep roots to this timeless aesthetic, but with a steady influx of international buyers, I’m not alone in my pursuit of home design with an increasingly modern tilt. Below are 3 architectural firms that are truly transforming the landscape of Providenciales and redefining how we think about Caribbean design:
London and TCI based firm Blee Halligan Architects cut their teeth as development partner to Windward on the Blue Cay project and have continued this partnership on the South Bank project and The Peninsula at Emerald Estate, four standalone contemporary Beach Houses on the exclusive northeastern tip of Leeward, which are undeniably the showpiece properties of the collection. Blee also works on private projects throughout Providenciales, building on their design ethos of building in nature; designing for specific geographic, climatic and cultural nuances of the locale.
Beach Enclave is known for outside the box thinking, enter stage left, the first ever South American architectural firm to design in the Turks and Caicos. Hired to create minimalist low impact designs for the Beach Enclave Long Bay expansion and Beach Enclave North Shore second phase, Jacobsen Arquitetura successfully provided integrated designs to two seemingly varying sites. Linear design using natural materials, space and light, combine to create comforting ordered spaces with zero distractions to evoke a feeling of calm, provided by both the clean interiors and tropical views the designs overlook.
With over 20 years’ experience designing homes in Turks & Caicos as well as an international presence in Ireland and Great Britain, James Hamilton Architectspride themselves on empathetic design, with their clients needs at the heart of their process. A browse through their website will illustrate the numerous projects they’ve been involved in, and the varied nature of the homes they can produce. A personal favourite is Villa Fred, which marries the softness of cedar shingled roofing, order of symmetry and more modern linear elements like planked roofing, recessed lighting and pocket sliding doors opening to expansive views.
It all started with a desire to create a legacy built on a strong foundation, exemplary fundamentals, a strong professional team and an extraordinary location. The developer’s vision was to combine a home environment with the services and amenities of a condominium. Vacation home-owners wanted more than a piece of real estate, they wanted bespoke services and dedicated home management services. The Beach Enclave design ethos with low density and floorplans that seamlessly blend indoor with outdoor living spaces, modern but warm décor combined with fun amenities, maintains its successful path. Since the first launch of Beach Enclave North Shore in January 2014 the developers continue to strive to create new and lasting experiences and dream vacation homes. Now with five phases of development in three amazing locations, it is no wonder that the dreams of many vacation home-owners have come true.
Wanting to appeal to a broader market of home buyers, Beach Enclave developers introduced The Club at Beach Enclave Long Bay with four Beach Houses and a boutique condominium, The Club Residences. Now completely sold out with the Beach Houses nearing completion and The Club Residences due to start construction imminently the developers have cleared ground for the Phase 2 of Beach Enclave North Shore. Utilizing the same architect as The Club at Long Bay, the developer has taken a dramatic beachfront location and carved into the limestone shelf to seamlessly connect the Beach Houses to the surrounds. The exposed limestone functions as a design feature and acts as natural barrier offering privacy between the homes. The expanded resort amenities on this North Shore location include an elevated oceanfront Club Lounge with an indoor/outdoor bar and restaurant, lounge decks enhanced with water and fire features, an upgraded oceanfront Fitness Center and Yoga Deck, a lighted tennis court, kids club, and a one-of-a-kind luxurious Enclave Gardens, teeming with Caribbean fruit trees, all for the exclusive use of owners and guests.
We welcome you to view the listings in detail.
Beach Enclave Journey Of Success
We wanted to share with you the various milestones achieved by Beach Enclave in the making of the brand. We welcome you to BE a part of this incredible journey.
2020 TURKS & CAICOS REAL ESTATE MARKET CLOSES LIKE A CHAMP
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 shutdown and stringent travel requirements. And I guess our task in this space is to seek to answer the question, as set forth by the great David Byrne of Talking Heads: “Well, how did we get here?!” Let’s start abroad: After the stock market cratered, it began to recover quickly and it became clear this was not a rerun of the 2008 financial crisis. Soon thereafter, we witnessed affluent buyers starting to move on luxury vacation property from Vail to Aspen, and from the Hamptons to South Florida. COVID–19 was triggering the opposite of the financial crash of September 2008, in that luxury real estate was highly desired by those looking for easy-to-access, safe-haven retreats away from urban areas and primary homes. With airports and resorts closed, and most commercial planes not flying, the luxury market was, quite urgently, seeking out real estate!
With the challenges faced by everyone in 2020 the Turks & Caicos Islands decided to recognize the efforts put forth amongst our community members and we are very proud that our sales executive, Lisa Lopes, was chosen as one of the Pandemic Heroes. Volunteers, like Lisa, often put their own challenges aside and reach out and assist without hesitation. Thank you Lisa! You are an incredible role model for everyone, especially your two lovely daughters. Congratulations to all the other recipients and those individuals who may not have been recognized – you brighten the lives of all those you have touched!
Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay, Providenciales