Turks & Caicos: Paradise Found

From the pages of RESIDE® | Luxury Homes and Lifestyles Around the World | Spring 2014 Caribbean Edition

For much of its history, the beaches of Turks and Caicos were the sands less traveled. Until, that is, Club Med opened a resort in the early 1980s and put the archipelago on a trajectory as a rising star of posh Caribbean beach destinations.

Turks and Caicos, located 550 miles southeast of Miami, is made up of 40 different islands. Only a handful are inhabited. Providenciales, or Provo, is its tropi-cosmopolitan cultural capital. A quick 10-15 minute flight or easy boat ride connects Provo to most of its sister isles.

Babalua Beachfront_Turks and Caicos

$5,690,000 USD | Turks and Caicos Islands | Turks & Caicos Sotheby’s International Realty

Tourism fuels the economy, a sector that continues to grow at a healthy pace. Last year, the country saw a 10 percent jump in visitors–most of them Americans–owing to a bump in discretionary spending and an increase in air service. From most major U.S. East Coast cities, TCI is a direct flight of three hours or less.

Beachfront Parrot Cay_Turks and Caicos

$9,000,000 USD | Turks and Caicos Islands | Turks & Caicos Sotheby’s International Realty

When visitors come, the daydream of living an endless summer begins. The luxury real estate market is a resilient one, “poised for greater growth,” says Joe Zahm of Turks & Caicos Sotheby’s International Realty. Infrastructure projects such as the expansion of the Providenciales International Airport, balanced by a commitment to sustainable development is bolstering the confidence of prospective buyers. Another incentive? The islands are a “zero tax” jurisdiction. No property tax, income tax or capital gains taxes. A one-time stamp duty is paid at the time of purchase and based on the home’s price.

Beachfront Blue Mountain_Turks and Caicos

$6,000,000 USD | Turks and Caicos Islands | Turks & Caicos Sotheby’s International Realty

But real estate is as much an investment in one’s lifestyle as it is in one’s portfolio. In TCI, that lifestyle is one of flip-flop luxe in a destination that has one of the Caribbean’s highest standards of living. Credit a barrier reef–the world’s third largest–for some of the most brilliant waters and stunning coastlines anywhere. Its beaches are routinely voted among the best in the world. Vacation homeowners count bonefishing in saltwater flats, snorkeling the warm, calm waters and dining under thatched-roof palapas among everyday pleasures.

Thompson Cove_Turks and Caicos

$5,950,000 USD | Turks and Caicos Islands | Turks & Caicos Sotheby’s International Realty

Condominiums outsell private villas two to one, according to Zahm. Many developments offer owners the option to put units in the rental pool when not in use. Prices for luxury properties range between $1.5-$5 million, although trophy residences have sold for upwards of $10 million. Most are on Provo, in popular locations like Grace Bay. Those seeking quieter hideaways are finding their slice of paradise in Provo’s other coastal spots or on other islands like prestigious Parrot Cay, a favorite of A-listers. There is every degree of tropic fantasy in Turks and Caicos including the ultimate, the opportunity to buy one’s own private island.

Article provided by Iyna Caruso exclusively for Sotheby’s International Realty®.

Discover More Island Escapes in Turks & Caicos >

New and Notable Luxury Properties for Sale | November 2013

From the Mediterranean coast to the sandy beaches of the Caribbean, this month’s collection of exceptional properties for sale highlight some of the world’s finest waterfront locales.

luxury real estate monaco

Price Upon Request | Monte Carlo, Monaco| C.I.C. Immobilier Monte-Carlo Sotheby’s International Realty

Monaco—Unique and exceptional this superb duplex penthouse encompasses spectacular panoramic sea views. Located in the most exclusive and prestigious residences, the apartment is only steps from the beaches.

almalfi coast italy villas for sale

50.000.000 € EUR | Positano, Italy | Tuscany Sotheby’s International Realty

Italy—Located on Italy’s Amalfi Coast, this world-renowned luxury villa is uniquely situated as the largest single private resort with beach access along the entire coast. With breathtaking ocean views, the villa has direct access to crystal blue waters and sandy beaches. The epitome of luxury living in Italy, the villa has its own organic garden, which includes a variety of tomatoes, peppers, eggplant, zucchini, parsley, basil, and many other ingredients that are used by the house chef to prepare incredible, fresh home made dishes.

newport ri waterfront homes for sale

$45,000,000 USD | Newport, Rhode Island | Gustav White Sotheby’s International Realty

Rhode Island—This incomparable 45-acre oceanfront estate anchors the southern point of Newport’s celebrated Ocean Drive. Breathtaking vistas span from the greens at Newport Country Club, across acres of rolling lawns to the spectacular southern ocean views. Amenities include an infinity-edge pool, private water frontage, and a mooring on Price’s Neck Cove. The handsome indigenous-stone residence with open airy living provides the ultimate in quality and comfort.

franch riviera waterfront villas for sale

27.000.000 € EUR | Cap d’Ail, France | Côte d’Azur Sotheby’s International Realty

France—Built on 3 levels, this contemporary waterfront villa offers vast rooms with majestic sea views. With superb terraces and direct access to the sea by way of a private underground gallery, this spectacular villa embraces southern France’s extraordinary lifestyle.

grand cayman mansions for sale

$35,000,000 USD | Grand Cayman Island | Cayman Islands Sotheby’s International Realty

Cayman Islands—Without doubt Castillo Caribe is one of the finest beachfront estate homes in the world offering every luxury for modern day life with all the lifestyle options one would expect from the Cayman Islands. Enjoy year round sunshine and a luxurious Caribbean lifestyle all on a private pristine white sandy beach overlooking the crystal clear waters of the Caribbean Sea.

Newly Listed Luxury Properties for Sale >

New and Notable Luxury Homes for Sale | October 2013

From a sleek apartment in the heart of New York City to a medieval castle set on a vineyard in Tuscany, this month’s collection of new and notable luxury properties for sale showcase the diverse lifestyles of those who value the unique.

luxury modern kitchen manhattan

$50,000,000 USD | New York, New York | Sotheby’s International Realty – East Side Manhattan Brokerage

Manhattan — Located in the famed Time Warner building this one of a kind home is situated on Central Park with jet liner views of the city and Hudson River. A grand entertaining eat-in kitchen also has Park and city views.

vineyard for sale in Chianti Italy

Price Upon Request | Chianti, Italy | Tuscany Sotheby’s International Realty

Italy — Magnificent property in the heart of Chianti in a lovely private location perched atop a hill. The property, which is partly covered with vineyards, produces roughly 70,000 bottles of wine labeled “Castello di Tornano” and includes a charming medieval castle, 11 suites, 8 apartments, a private chapel and swimming pool.

luxury real estate Israel

$32,500,000 USD | Herzliya Pituach, Israel | Israel Sotheby’s International Realty

Israel — Located on one of Israel’s most prestigious street, this Ilan Pivco designed architectural estate is situated on a meticulously manicured and artfully landscaped dunam. This state of the art house is unmatched in its artisan details and luxurious finishes.

luxury homes for sale palm beach florida

$32,000,000 USD | Palm Beach, Florida | Sotheby’s International Realty – Palm Beach Brokerage

Palm Beach — This impressive home boasts six principal bedrooms, nine bathrooms, two powder rooms and a privately gated beach house. The Main House includes a tennis court with balustrade gallery and a chic oval swimming pool. Inside, the exquisite millwork was imported from France and installed on site.

luxury country homes for sale france

22.000.000 € EUR | Neuilly, Ile-De-France | Paris Ouest Sotheby’s International Realty

France — This rare and sublime private mansion features a huge reception room, family kitchen with a pantry, swimming pool and fitness room.

Newly Listed Luxury Homes for Sale >

Luxury Real Estate Headlines: Last Week in October 2013

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

turks and caicos luxury condos for sale

$1,900,000 USD | Providenciales, Turks And Caicos Islands | Turks & Caicos Sotheby’s International Realty

“There are a great amount of advantages from a financial point of view that attract international buyers to the Caribbean. There are currently over $2 Trillion in deposits in various banks in the Caribbean. Especially on our level, with our brand, we are looking at the top tier of the market and an incredibly sophisticated buyer. They know the market very well and the Caribbean is an incredibly attractive region for a lot of these buyers,” says Michael Valdes, Sotheby’s International Realty’s Director of International Servicing, Latin America & Caribbean Region.

An expert look at the Caribbean market - Turks & Caicos Magazine

Pending Sales of [US] Existing Homes Slump by Most in Three YearsBloomberg

Forget Affordability — Housing’s Trends Signal A Bright FutureForbes

63% of International Buyers Pay CashNational Association of Realtors®

China Home Prices Jump by Most This YearBloomberg

Real Estate: A Week in the Life of Denver’s Market5280.com | The Denver Magazine

Malta Sotheby’s International Realty launches luxury outlet office in SliemaMalta Today

Realogy’s NRT subsidiary acquires big brokerage in California wine countryInman News

Sotheby’s Australia to Auction $24,000 Sheep ShearsWSJ Scene Asia Blog

Jony Ive & Marc Newson Design Watches For (RED) AuctionForbes

Famous Jane Austen watercolour portrait to be auctioned at Sotheby’sThe Guardian

 

Luxury Real Estate Headlines: Last Week in October 2013

Highlights from this week’s top news stories on luxury and global real estate, art, collectibles and home.

turks and caicos luxury condos for sale

$1,900,000 USD / Providenciales, Turks And Caicos Islands / Turks & Caicos Sotheby’s International Realty

“There are a great amount of advantages from a financial point of view that attract international buyers to the Caribbean. There are currently over $2 Trillion in deposits in various banks in the Caribbean. Especially on our level, with our brand, we are looking at the top tier of the market and an incredibly sophisticated buyer. They know the market very well and the Caribbean is an incredibly attractive region for a lot of these buyers,” says Michael Valdes, Sotheby’s International Realty’s Director of International Servicing, Latin America & Caribbean Region.

An expert look at the Caribbean market - Turks & Caicos Magazine

Pending Sales of [US] Existing Homes Slump by Most in Three YearsBloomberg

Forget Affordability — Housing’s Trends Signal A Bright FutureForbes

63% of International Buyers Pay CashNational Association of Realtors®

China Home Prices Jump by Most This YearBloomberg

Real Estate: A Week in the Life of Denver’s Market5280.com / The Denver Magazine

Malta Sotheby’s International Realty launches luxury outlet office in SliemaMalta Today

Realogy’s NRT subsidiary acquires big brokerage in California wine countryInman News

Sotheby’s Australia to Auction $24,000 Sheep ShearsWSJ Scene Asia Blog

Jony Ive & Marc Newson Design Watches For (RED) AuctionForbes

Famous Jane Austen watercolour portrait to be auctioned at Sotheby’sThe Guardian

 

New & Notable Luxury Properties for Sale | July 2013

From a metropolitan  penthouse in the heart of Manhattan to the European countryside, this month’s collection of exceptional properties for sale highlight a variety of properties that offer the ultimate in privacy and solitude.

New York City Penthouse

$75,000,000 USD | New York, New York | Sotheby’s International Realty- East Side Manhattan Brokerage

Manhattan — Design by Tony Ingrao, this magnificent apartment has been completely renovated and redesigned. The New York City Penthouse occupies the entire floor with a private entry foyer.This penthouse features extra high ceilings throughout, elegant and dramatic entertaining space and warm and inviting private sanctuaries.

Switzerland real estate

Price Upon Request | Gingins, Switzerland | de Rham Sotheby’s International Realty

Switzerland — At the heart of the Côte, in the charming village of Gingins, this unique chateau is surrounded by 68,700 m² of grounds, offering the property incomparable privacy. This magnificent mansion dates from the 15th century and has recently been restored by the current owner.

Turks And Caicos Islands private island

$45,000,000 USD | Dellis Cay, Turks And Caicos Islands | Turks And Caicos Sotheby’s International Realty

Turks & Caicos — A combination of tide and currents make this uninhabited 560 acre private island a splendor of nature. One of the most desirable private islands in the Turks and Caicos, Dellis Cay—named for the family that inhabited the island in the 1950′s—is a few miles from the main island of Providenciales and accessible by a 20-minute boat ride.

Dominican Republic Real Estate

$27,600,000 USD | Cabarete, Dominican Republic | Cabarete Dominican Republic Sotheby’s International Realty

Dominican Republic — La Goleta is a prime undeveloped parcel of land approximately 3 kilometers west of Cabarete on the north coast of the Dominican Republic. This parcel of land has been held in a family estate for nearly 100 years and is unspoiled farmland lying between the ocean to the south and the main federal highway to the north. The property is unique for the area because of the large acreage between the main road and the ocean, encompassing sufficient space for a modern, creative planned unit development.

Washington DC real estate

$26,000,000 USD | Washington, District Of Columbia | TTR Sotheby’s International Realty

Washington, D.C. — An architectural and historical landmark prominently sited on Dupont Circle in the heart of the capitol city, this Italianate mansion was designed in 1901 by Stanford White. In 1927, President and Mrs. Coolidge temporarily resided in the mansion as The White House underwent renovations. During that time, President Coolidge hosted Charles Lindbergh at the residence after his solo transatlantic flight.

Newly Listed Luxury Properties for Sale >

Turks and Caicos Islands Real Estate | Market Spotlight

turks and caicos real estate

$10,000,000 USD | Turks And Caicos Islands | Turks & Caicos Sotheby’s International Realty

With year-round sunshine, miles of pristine beach and crystal clear seas, the Turks and Caicos Islands are a growing Caribbean destination for North America and Europe. The Islands boast a small, but vibrant open economy that depends largely on tourism and the offshore finance industry.  As a British Crown Colony, TCI is politically and socially stable making opportunity for investment strong. “The second quarter of 2012 continues to build off the momentum of 2011 and the first quarter of 2012, with all trends continuing upward,” explains Joe Zahm, President and Broker of  Turks & Caicos Sotheby’s International Realty.

Joe Zahm, President of Turks & Caicos Sotheby’s International Realty, scopes out real estate via helicopter for prospective clients.

“In addition to this encouraging market news, institutional and private equity is finding its way back to the Turks and Caicos Islands. While prices have mostly bottomed out, and we are even seeing some value increases with select inventory, there remain some excellent values for purchasers who feel they have missed out on the price bottom. Summer sales activity and pending business remains strong in all sectors and we anticipate continued market growth through the next quarter,” says Zahm.  Read the entire market report here. View Turks and Caicos Islands Real Estate on sothebysrealty.com.