Developer Spotlight – Volume 5 – Turks & Caicos Islands

Posted on May 2, 2023 by Turks & Caicos Sotheby's International Realty

Our Developer Spotlight series is a brief look at the background and horizon of several of our top Turks & Caicos Islands luxury developers, with Q & A led by our President, Joe Zahm.

Click on the cover below to view and download our Developer Spotlight – Volume 5.

The Strand Turks & Caicos – John Fair

About The Strand
The Strand promises a private residential resort community unlike any other, where the essence is an owner centric experience. This high-end oceanfront residential resort and marina destination offers onsite amenities, including Clubhouse with state of the art gym, retail shop and yoga deck, use of beach access, an oceanfront restaurant and pool with zero setbacks to allow the facility to sit directly on the waters edge, Beach Club with paddleboards, kayaks, sea bobs, jet skis, e foils, kiteboards and sailboats, tennis and pickleball courts, as well as access to a Club Boat for captained excursions or events. Full in villa spa services offered. The Marina is independent from The Strand, but operates as a central amenity for the homeowners, offering approximately 23 slips for boats ranging between 40 – 60 feet.

About Turks & Caicos Sotheby’s International Realty
Turks & Caicos Sotheby’s International Realty (TCSIR) is the premier luxury real estate brokerage firm in Turks & Caicos. Boasting a profound track record and significant foothold in all market segments, particularly new development and trophy properties, TCSIR is the go-to resource for developers, investors, home-buyers and sellers in this highly sought-after destination. With strong leadership backed by the world’s greatest international luxury real estate brand, and a diverse array of international agents representing 15 countries, TCSIR is influential in both the local community as well as the greater real estate industry worldwide. The firm’s signature office is ideally located in uptown Grace Bay with satellite offices at Grace Bay Club, The Palms and Point Grace. For more information please visit http://www.turksandcaicossir.com.

2023 Turks and Caicos Real Estate – 1st Quarter Year-To-Date Comparison

Posted on April 21, 2023 by Turks & Caicos Sotheby's International Realty

Supply and Demand Considerations in Turks and Caicos Islands

The inextricably linked tourism and real estate businesses in the Turks and Caicos Islands are, naturally, predicated upon the simple principle of supply and demand, and we are enjoying tremendous economic success due to our strong fundamentals with regards to these two vital drivers.

On the supply side, we have an amazing array of existing hospitality inventory and property – from hotels, condominiums, managed and stand-alone villas – that have proved to be among the best-in-show throughout the Caribbean for high-end tourism, drawing in high quality visitors. Further, our inventory pipeline is strong, as developers conceive and build luxury properties, which will continue to satisfy tourism and real estate demand for renting and non-renting owners alike. Because our market is more dependent on New Development than more mature markets, and further dependent on individually owned condominiums and villas, New development buyers, who often buy off-plan and before a shovel is in the ground, are essential participants in our market’s growth. For example, in the New Development sector, at projects such as Beach Enclave, South Bank and The Strand, construction of an individual villa commences once purchasers have signed land purchase and construction agreements. In the condominium sector, developers commit to building once a prerequisite number of units are pre–sold. In this regard, we are highly dependent on pre–construction purchasers to “co-invest” with our developers in order to fuel new projects. Presently, as we navigate the low existing re-sale inventory market, we look towards the future with a plethora of great projects in the pipeline, led by The Point By Grace Bay Resorts, ARC at South Bank, The Strand, St. Regis and others. These new projects create welcome for-sale inventory into the market, to supplement our constricted, existing re-sale inventory.

Our first quarter numbers reflect the importance of this new development inventory as we close out many recently or soon-to-be-completed villas at South Bank, Beach Enclave and the Strand, with many more to follow this year. A quick drive around to these three projects illustrates how New Development matures into completed tourism, vacation and residential real estate. It is always thrilling to see what Steven Covey calls the “first creation” born of the imagination (the plans) transition to “the second creation”, born of will (the physical projects) and then even to the “third creation” (the hospitality operation). The process never gets old and provides continual blood flow into our market. A recent headline amplified how the Caribbean and especially Turks and Caicos has been a big winner in tourism, and this is primarily because we have such great supply and demand fundamentals.

At Turks and Caicos Sotheby’s International Realty, we are grateful for our role in all aspects of the supply and demand cycle, together with our partners and many stakeholders in the process made up of our developer, investor, hospitality, architect, legal, engineering, construction, design, broker, banking and government sector communities…the list goes on. There is nothing more satisfying than being involved from the planning and product launch to project opening and operation – from pre-ribbon cutting to post product grand opening. In so many ways, the New Development forges our identity and continues to elevate Turks and Caicos Islands globally as a sustainable, international luxury brand.

Happy Spring!

Download the full report with one of the links below.

Link to PDF Report

Digital Flip-Book Link Here

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Developer Spotlight – Volume 4 – Turks & Caicos Islands

Posted on April 20, 2023 by Turks & Caicos Sotheby's International Realty

Windward – Ingo Reckhorn

About Windward
By demanding the extraordinary, we answer questions others don’t even ask. Our agile, bright and mindful team inspires those who work with us to find unexpected answers.
United by a shared spirit, the clients, partners and communities we collaborate with become the embodiment of shared success. Their trust in our alternative approach, empowers us to envision and evolve new ways of living, working and being.

Developer Spotlight – Volume 3 – Turks & Caicos Islands

Posted on April 5, 2023 by Turks & Caicos Sotheby's International Realty

Beach Enclave Turks and Caicos – Vasco Borges

About Beach Enclave
At Beach Enclave, we are proud of our culture and passionate team members who deliver highly personalized services each and every day.
We empower all colleagues, from housekeepers to resort managers, to anticipate and fulfill residents’ and guests’ needs. Far beyond our turquoise waters and white-sand beaches, our residents and guests name our team members as our greatest assets as we have gathered the industry’s top talent from the Turks and Caicos and beyond.
Stunning examples of contemporary beach architecture, the villas and residences of Beach Enclave blur the line between outdoor and indoor living. Open spaces are layered with organic materials such as local wood and coral stone. Expansive, floor-to-ceiling sliding glass doors lead to private infinity pools, signature outdoor showers and multiple terraces and decks for alfresco dining, lounging and entertaining. Indoors, clean lines define gracious living areas, open layout kitchens and ocean-facing master suites.

Developer Spotlight – Volume 2 – Turks & Caicos Islands

Posted on March 27, 2023 by Turks & Caicos Sotheby's International Realty

The Hartling Group – Stan Hartling

About The Hartling Group
The Hartling Group has been developing some of the finest properties the Turks and Caicos Islands for over 26 years. Their portfolio of developments including The Shore Club, The Palms and The Sands as well as numerous award-winning Villas have been ranked within the top 100 resorts in the world by publications such as Travel + Leisure and Conde Nast Traveler.
The Hartling Group oversees all elements of its projects from site acquisition to design, construction, and long-term management over all its properties. Today, the Hartling Group has over 700 team members and its name is synonymous with quality from its construction to its post completion management.

Developer Spotlight – Volume 1 – Turks & Caicos Islands

Posted on March 8, 2023 by Turks & Caicos Sotheby's International Realty

Grace Bay Resorts – Mark Durliat

About Grace Bay Resorts
GBR believes that trans-formative brands and incomparable destinations are built on exceptional people. “At Grace Bay Resorts, we have brought together a team of outstanding individuals from around the world, with decades of experience acquired at some of the most sought-after luxury hospitality properties. Our team is made up of outstanding international talent and local expertise, together we are able to achieve a dedicated focus on our region.”

2022 Real Estate Market Posts Strong Follow-up Year to Historic 2021

Posted on January 17, 2023 by Turks & Caicos Sotheby's International Realty

2022 Turks and Caicos Real Estate – 4th Quarter Year-To-Date Comparison

Turks and Caicos Islands (TCI) has long attracted luxury real estate developers and investors for its turquoise waters, pristine white beaches, attractive quality of life and strong infrastructure. As one of the most sought-after destinations in the Caribbean, TCI has gained much attention from the industry as its steps onto the global stage.
Turks & Caicos Sotheby’s International Realty is pleased to release the following findings from its highly anticipated 2022 Year End Market Report, sharing key insights, trends and future outlook predictions.

Overall Market Performance
After a history-making year in 2021, which reached $765M in closed transactions, Turks and Caicos continued its strong performance in 2022, totaling $553M in sales. This second-best year surpassed the prior record holder of 2019, which recorded $337M in dollar volume, by 63.5 percent. Looking ahead into 2023, the sales pipeline remains strong with an impressive $327M in pending transactions led by pre-construction villa sales.
The Single Family Home sector, with $214M in sales volume, accounted for 39 percent of all sales in 2022, as opposed to 49 percent in 2021. This shift can be attributed to absorbed inventory as well as ongoing construction for many residential homes. Total Condominium sales of $171M accounted for 31 percent of all sales volume in 2022, with a similar share compared to 2021. Meanwhile, Land sales of $143M saw the biggest proportional increase year over year, from 19 percent in 2021 to 26 percent in 2022, as investors seek to build and seize long-term investment opportunities.

New Developments
In the context of historic tourism demand, Turks and Caicos continues its new development momentum with several new, exciting projects in various stages. First, South Bank has just launched the iconic Piero Lissoni-designed ARC. The project encompasses 17 two- to five-bedroom “suspended villas” with private pools, ranging in price from $3M to $20M for the 360-degree-view penthouse. The Lagoon Villas have welcomed its first group of owners, with the remaining inventory of 11 villas of the 18 will be completed by late spring. Currently, 16 Ocean Estate Villas, 38 Boat Houses and various on-site amenities are under construction. Also developed by Windward, Nivå designed by Ström Architects are a contemporary design-driven collection of six luxury villas dotted along the elevated tip of stunning Turtle Tail, a response to the environment to serve into the views, elements and built into the landscape. Villas prices start at $6.25M.

What a difference a year has made at The Strand, with the now freshly paved Cooper Jack Road, several luxury Residences, and Buildings A and B of the Villas—all oceanfront with private courtyards and pools—well underway. The development’s sprawling oceanfront restaurant, which upon its completion will sit directly on an elevated perch overlooking the beach, is also in progress. The Strand is a spectacular, must-visit oceanfront private community, priced from $2.95M.

Beach Enclave has completed its first of 10 Beach Houses within its North Shore Phase 2 development. At Beach Enclave Long Bay, one four-bedroom Beach House remains for sale at $5.45M. At The Reserve on Grace Bay, 3 ultra-luxury estate homes paired with an unparalleled amenity set are under construction. Only 1 estate home remains for sale at $16.95M. This is the last remaining opportunity to own on best-in-class Grace Bay.

Grace Bay Resorts’ Rock House has opened to high occupancies and rave reviews. Half of the under-construction Phase 2 is sold with a select inventory of two- to four-bedroom, elevated villas remaining. Even bigger news is that The Point, the long-awaited expansion of Point Grace, will soon launch to the public, with 38 beachfront units, 4 pool bungalows, 16 casitas and exceptional resort amenities.

The Villas at Blue Mountain has been fully re-imagined under the development and management of acclaimed Hartling Group (The Palms and The Shore Club), with jaw-dropping, elevated North Shore views for sale from $3.95M.

“Following such an unprecedented year as 2021, we were pleased with how solid our performance was in 2022, which is a testament to the quality of the listings, and of our clientele,” said Turks & Caicos Sotheby’s International Realty President Joe Zahm. “Even more impressive is the fact that there has been no flight to re-sell properties, which is not too surprising as we are such a low-debt jurisdiction that is less impacted by higher interest rates. With existing quality inventory still to be completed, we expect new development and select trophy sales to carry the day in 2023.”

Download the full report with one of the links below.

Link to PDF Report

Digital Flip-Book Link Here

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

The Strand Villas, Turks & Caicos Islands – “A Closer Look at their Unique Attributes”

Posted on December 16, 2022 by Turks & Caicos Sotheby's International Realty

In case you missed the chance to view our recent live Zoom Webinar on December 2, 2022, we welcome you to view this recording on Youtube to listen in with the developer, John Fair, and our sales team during a discussion on The Villas highlighting the design, amenities, lifestyle, and income potential of the 2- and 3-bedroom beach front properties.

Link to listing detail here:

Or contact the listing agents for further detail:

Joe Zahm, joe@tcsothebysrealty.com, 649.231.6188

Nina Siegenthaler, nina@tcsothebysrealty.com, 649.231.0707

Turks & Caicos Sotheby’s International Realty | Venture House | Grace Bay Road, Providenciales, 649.946.4474, info@tcsothebysrealty.com

TCI Real Estate Seeing New Development Expand As We Head Towards Another Record Year !

Posted on October 31, 2022 by Turks & Caicos Sotheby's International Realty

2022 Turks and Caicos Real Estate – 3rd Quarter Year-To-Date Comparison

With the exception of 2021, the 3rd Quarter is historically our quietest quarter due to the back-to-school and hurricane seasons, to be followed by a significant uptick in 4th Quarter as we gear up for our busy season. As such, Q3 2022 is proving to be more in line with previous years’ activity and still in line with pre–covid peaks.

As illustrated in this report, real estate sales are still holding steady alongside an exceptional 2021. For this 3rd Quarter 2022, the overall graph has been broken down into sales volume by quarter for each of the past four years, indicating the ebb and flow of volume through each quarter. Pending deals that are slated to close out at year-end 2022 currently place the real estate market 38% ahead of 2019 year-end sales volume which was a record year itself. Considering the pending sales on the MLS, projected 2022 year-end sales volume will be very close to $500M and represents another record year in the making.

Within the 2nd Quarter report, we mentioned that several developers have exciting projects on the forefront which will be launched very soon that will help bridge the gap to sustain our market’s decade-long momentum. We are happy to present these new developments in the pages of our report which include a mix of pre-construction offerings. New Development is essential in real estate and we are entering a new wave of extremely high-quality projects from legacy developers, including ARC and NIVA from Windward Developments (Blue Cay, South Bank), a re-imagined Villas at Blue Mountain by Hartling Group, and the soon-to-be announced Grace Bay Resorts project next door to Point Grace.

On the community front: The “Footsteps 4 Good” Charitable Event kicked off on October 21st. The event is a 224-mile circumnavigation of the beautiful by nature Turks and Caicos Islands over 13 days, touching 24 islands and cays. The water wading, swimming, walking, running, biking, kayaking and rowing island-hopping charitable event is hosted under the patronage of Mrs. Mandy Dakin, wife of His Excellency Governor Nigel Dakin. The charitable event was started by Jill Beckingham, wife of previous governor, Peter Beckingham. Mandy Dakin promised to restart the venture but with an ambitious twist covering the full length of the Islands: Providenciales through to North, Middle, East and South Caicos, then crossing to Grand Turk, Salt Cay, and finally completing the circle back to Providenciales via Sand Cay, Ambergris Cay, French Cay, and West Caicos. “The event builds on community spirit. United we are all stronger and can achieve amazing results. Not everyone is a marathon runner, but everyone knows how to walk. What could be better, raising money for our favourite charities whilst improving our health and fitness.” Stated Mandy Dakin in a recent article on The SunTCI. For more detail link to The Sun TCI News article here. You can also follow the progress of this amazing journey on Instragram @footsteps4goodtci

We are thankful as always for the support of our clients and community and look forward to welcoming you to our shores this fall and festive season.

Download the full report with one of the links below.

Link to PDF Report

Digital Flip-Book Link Here

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay Road, Providenciales | info@tcsothebysrealty.com | 1.649.946.4474

Introducing Arc – Elevated Beachfront Living in Turks & Caicos

Posted on October 5, 2022 by Turks & Caicos Sotheby's International Realty

A New Level. Discover Elevated Beachfront Living

Taking its prominent position at the gateway to South Bank, Arc rises from the sculpted, sheltered resort beach and offers all-encompassing views from its 17 exceptional Sky Villas. Each with seamlessly connected landscaped Air Gardens, these new residences offer a secluded lifestyle experience of sky, sea, nature and space. At home in their dramatic setting, the Sky Villas welcome all-encompassing views of the Caicos Bank and the ever-changing scene of the vibrant South Bank ocean lifestyle.

A Rare Lifestyle Experience

Wellness, nature, and adventure form the very essence of the experiences at South Bank. Arc features a restaurant and bar, gym, two pools, jacuzzi, owner’s lounge, board room, garden firepits and a boardwalk leading to the cabanas on the pier. Within the main resort, Arc residents also benefit from the lagoon-side rejuvenating spa and gym, effortless boat concierge service and Clubhouse restaurant and bar. With owner and guest service and facilities expertly provided by Grace Bay Resorts, every day will be an experience to treasure. Experience Caribbean waterfront living at its best, delivered by one of the leading hospitality experts in the Caribbean.

Meet The Architects

Piero Lissoni, Founder and Design Principal at Lissoni®, brings his mastery of contemporary design to South Bank with the unveiling of Arc and its Sky Villas. With offices in Milan and New York, Lissoni® has a thirty-year history in developing international projects. Inspired by a sense of rigor and simplicity, his designs are characterized by a regard for detail, coherence, and elegance. The ideal fit for the South Bank vision. Meet the renowned architect behind the Sky Villas at Arc, as he explains his vision for this inspired reimagining of elevated beachfront living.

Rob Report Article

Turks & Caicos Sotheby’s International Realty, Venture House, Grace Bay

Link to listing information for the Arc at South Bank

Turks & Caicos Real Estate | Caribbean

Turks & Caicos Sotheby’s International Realty is the leading luxury real estate brokerage firm in the Turks and Caicos Islands.

Tag Archives: Luxury Real Estate

Developer Spotlight – Volume 5 – Turks & Caicos Islands

2023 Turks and Caicos Real Estate – 1st Quarter Year-To-Date Comparison

Developer Spotlight – Volume 4 – Turks & Caicos Islands

Developer Spotlight – Volume 3 – Turks & Caicos Islands

Developer Spotlight – Volume 2 – Turks & Caicos Islands

Developer Spotlight – Volume 1 – Turks & Caicos Islands

2022 Real Estate Market Posts Strong Follow-up Year to Historic 2021

The Strand Villas, Turks & Caicos Islands – “A Closer Look at their Unique Attributes”

TCI Real Estate Seeing New Development Expand As We Head Towards Another Record Year !

Introducing Arc – Elevated Beachfront Living in Turks & Caicos

Meet The Architects

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Meet The Architects

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