The Turks and Caicos Islands has experienced a thriving real estate market in recent years, with foreign investors – particularly a growing number of second home owners – creating a large portion of that trend. There are no restrictions on foreign property ownership in the Turks and Caicos, and financing and insurance are available to residents and new arrivals alike.
The tax system also appeals to many buyers as they are required to pay a one-time stamp duty on new purchases, but don’t pay ongoing annual property taxes or eventual capital gains taxes on property appreciation profits or income tax on rental income.
The Turks and Caicos Real Estate Association (TCREA) has set up an effective network among the islands’ realtors, allowing for transparency in the local real estate market for both customers and agents.
Internationally recognized real estate franchises such as Century 21, Christie’s, Coldwell Banker, ERA, RE/Max, Sotheby’s International Realty and more are represented locally. The TCREA has also established a Multiple Listings System in which all properties listed with any TCREA agent are made available to all agents and brokers, as well as to the public via the association’s website www.tcrea.com.