The Caribbean island nation of Turks and Caicos is a favorite destination for international property investors, and infrastructure improvements currently under way will make it more attractive than ever. In addition to being one of the safest Caribbean countries, these islands offer great weather year round, friendly people and a solid real estate market. Several new state-of-the-art hospitals are under construction and the main airport’s runway is being extended to 10,000 feet to accept direct flights from overseas, including Europe and the UK.
Currently, the majority of Turks and Caicos property investors have been coming from the United States. With the economy there a bit in the doldrums, the market has slowed some this year, making it an ideal time to invest. There are eight inhabited islands in the two chains, plus some 30 uninhabited ones to add to the natural beauty and charm. The most developed island, with the major airport, is Providenciales, or Provo, which has a population of approximately 22,000 residents.
North Caicos and Middle Caicos are quite affordable places to live. Additionally, resort development is just starting in Grand Turk and North Caicos, so now is a good time to take advantage of low property prices that will yield high returns in the years to come.
The currency is the US dollar, so buyers from Europe can get some extraordinary deals right now with the Euro and Pound at near record levels. The islands are home to many offshore banks and getting your money is simple and easy, plus there are no taxes. The law is based on English common law and purchasing property is a straightforward process. In short, Turks and Caicos is a great place to invest in!
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