APRIL 26TH, 2019 – MAY 3RD, 2019
VOLUME 15 - NO. 16
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TCI REAL ESTATE
SMASHING RECORDS by Hayden Boyce Publisher & Editor-in-Chief
T
he Turks and Caicos Islands real estate market continues to peak-perform, with a recordbreaking year in 2018 despite the devastating effects of backto-back hurricanes in 2017. According to a report from Turks & Caicos Sotheby’s International Realty, the overall market in 2018 was carried by the single family home (SFH) market which represents nearly 50% of the sales volume and finished on a record high. On the luxury end, there were 20 home sales over the $3million mark, with the highest recorded home sale at
$7million for an existing villa. sector with high demand buyers are valuing the re-sale The new villa from the rich and famous listings as sellers hold firm development completed sales and discerning travelers. One on price,” the report added. represented 37.5 % of the SFH can hardly go a week without “The overall-average price per sales volume. The average price some young celebrity posting square foot was $442 and the increased by 6.24% over 2017 amazing images to the world price per square foot for the and over the previous years, on their social media. There units over $1M was $714. The the report said. is a major buzz in the air that sales volume in this sector will Significant sales in this started on our humble shores gain traction within the next sector included: Saving Grace and now permeates in major four to six years as the new development $7Million, Amanyara Villa cities and elite neighborhoods condominium $6.55Million, Shore Club Villa in North America and beyond. begins and completes in the $5.9million, The Residences Turks and Caicos is exceeding next serge of construction for by Grace Bay Resorts re-sale our wildest expectations - an this sector.” In the luxury $5.8million, Amanyara Villa “overnight” sensation after 30 end the top selling re-sale $5.65Million and Dunes Villa years.” development The report revealed condominium $5Milion. condominium sales was The Palms with 8 units sold, In his report summary, that Joe Zahm, President Turks & performance also finished on a followed by Grace Bay Resorts Caicos Sotheby’s International high at year end along with a with 5 units, Gansevoort with 5 units and The Pinnacle with Joe Zahm, President Turks & Caicos Sotheby’s Realty, said: “We are now a spike in average price. International Realty household name in the luxury “With a sale-to-list ratio of 94%, 4 units sold .
Continued on page 2
United Way Turks & Caicos raises over $18,000 for reading programs across TCI
U
nited Way Turks and Caicos has just completed a very successful Read-a-thon across primary schools in Providenciales, raising $18,321.85 for reading programs across the territory.
The event climaxed on Monday, April 22nd, 2019 with a Reading Relay and colour party at the National Stadium in Providenciales. Pictured from Left to right: Volunteer Takara Bain,
Executive Director, Ms. Claudine Ewing, Mr. Mark Fulford, Chairman of the Board, Minister of Education Hon. Karen Malcolm, children who participated in the event and other Volunteers.
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