Land Parcels In The Turks & Caicos Islands

Provo offers a vibrant, expanding real estate market, which includes residential and commercial lots, condominium projects, and private homes. Houses presently on the market vary in price from $250,000 to $3,500,000, with the average price in the high $450,000 range.

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Land Values By Area

Long Bay Hills - Map Area 1
Located on the southeast end of Providenciales, Long Bay Hills is a residential subdivision offering a variety of land, including tracts, hilltop, and beachfront lots. (Long Bay Hills is also home to the Caicos Marina and Shipyard, a full-service marina offering boat carpentry, repairs, and fuel service.)

Prices are generally lower in this area than in other subdivisions. Tract land - usually flat with little or no view - ranges from $90,000 to $110,000 per acre. Hillside land with some ocean view sells for $125,000 to $140,000 per acre. Hilltop properties with an ocean view are $160,000 to $225,000 per acre. Canal lots with a salina view can be purchased from $165,000 to $250,000 for two acres. Beachfront lots are generally two acres with 150 feet of frontage; they start at $1,400,000.

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Turtle Tail - Map Area 2
Turtle Tail is a 3.5-mile peninsula on the south-central shore of Providenciales, bounded on the north by Juba Salina and on the south by the open sea. All lots have either ocean view or ocean frontage. Turtle Tail provides dramatic views of the Caicos Banks and five little cays, small coves with private beaches, and fabulous hilltop properties rising to 100 feet. Single-road access assures privacy and security. Ocean front properties with elevations of 40+ ft. Start at $700,000 for larger parcels with private coves and marina access.

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Cooper Jack Hill - Map Area 3
Located on the south shore and known locally as Discovery Bay, Cooper Jack Bight is the entrance to a 2.5-mile canal system. The rocky shoreline changes to a delightful private beach at mid and low tide. Cooper Jack Hill, surrounding the bay, has elevations up to 110 feet, giving some of the most spectacular ocean views in the Islands.

There is a wide variety of available properties, including residential and condo/hotel zoning. The first waterfront development was completed in late 1994. It was an oceanographic centre at the mouth of the canals. This Canadian project brings in students for hands-on learning of marine science. Residential lots run from $150,000 to $300,000 per acre.

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Canal Area - Map Area 4
There are about two miles of canals without bridges located in the centre of the island between Turtle Cove on the north and Discovery Bay on the south. The stable, limestone-based canal system is open to the ocean through culverts, and is naturally flushed by the tides. The water quality is very good, supporting fish and lobster. The canals exit through Turtle Lake into Discovery Bay on the south shore. The depth varies from six feet at high tide to four feet at low tide.

The typical lot is one-half acre with 100 feet of canal frontage. Prices range from $150,000 to $200,000. The higher end lots have elevation as well as water frontage.

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Chalk Sound - Map Area 5
Located on the southwest side of the island, Chalk Sound Peninsula consists of Sapodilla Bay, Taylor Bay, Little Cay, and Silly Cay. The water color is a milky turquoise, unique to this area, and the Sound has hundreds of small cays, providing views not seen anywhere else.

Most lots are waterfront - the roadway divides them into frontage on the Chalk Sound side (a national park) and oceanfront (Atlantic Ocean) on the opposite side. Property values range from $400,000 to $750,000 for one-acre sites; beachfront lots in Sapodilla Bay are in the $800,000 and up range for half-acre parcels.

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Thompson's Cove - Map Area 6
The exclusive, 180-acre planned community of Thompson's Cove is located on the north shore, west of Turtle Cove. The beach is strictly residential and Cove Point has excellent snorkeling. Thompson's Cove is the only development in the Islands providing both dock space and beach access for every lot owner. Canal lots provide safe harbor, while hilltop lots give panoramic views of the north shore and barrier reef. All lots, including hilltop, canal, and beachfront, have dockage rights.

Beachfront lots are typically two acres, with 150 feet of frontage, and are in the $1,000,000 range. Canal lots are $350,000 per acre lot and hilltop lots range from $250,000 to $500,000. One acre parcels one row back from the beach start at $170,000.

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Blue Mountain - Map Area 7
The Blue Mountain settlement and International Drive make up the stretch of land between Thompson's Cove and Turtle Cove. One of the most exclusive areas of the island, few oceanfront parcels are available. Ocean view lots provide panoramic vistas of the entire north shore and the crescent curve of the barrier reef surf. One-acre hilltop lots range from $250,000.

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Turtle Cove - Map Area 8
Known locally as Sellers Pond, Turtle Cove is the centre for watersports, with hotels, dive operations, tourist-oriented retail shops, and restaurants within walking distance. The beach is prime, with some of Provo's best snorkeling on Smith's Reef at Long Point.

Available properties include beachfront, hilltop, and commercial parcels. Beachfront parcels are usually one acre, and range from $1,000,000 to $1,800,000. Hilltop parcels range from $200,000.

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The Bight - Map Area 9
The Bight is located between Turtle Cove and Grace Bay (Grace Bight) and fronts on the finest beachfront on Providenciales. Originally all-residential, this area is now transitional, with the eastern section being the site of Beaches Resort.

One-acre parcels just back from the beach with access run to $250,000.

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Grace Bay - Map Area 10
Located in the northeast section of Providenciales, Grace Bay is home to Club Med, the luxurious Grace Bay Club, the 230-room Allegro and Casino, the lush Ocean Club and Ocean Club West condominium development, Ports of Call shopping complex, and an 18-hole championship golf course.

All beachfront property is now designated commercial/tourist and is the most expensive land on the island. Beachfront commercial property is now valued at $2,000,000 per acre.

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Land Sales Information
There are no restrictions on the purchase, ownership and sale of land by foreign investors. Land ownership is recorded in a torrens or land title system. Land registration is both simple and secure and once registered the titles is guaranteed by the crown.

Providenciales has been surveyed and divided into sections, blocks and lots. Zoning designations for low density residential through to industrial are clearly identified in the physical planning department. Lot markers are usually intact and boundaries easily located. Land values have increased steadily over the past years with appreciation in the 20%-25% being common for waterfront and prime hilltops parcels.

Land transfer tax on the purchase of Providenciales property is as follows:

• Nil on property up to $25,000.
• 6.5% on property $25,001 - $75,000.
• 9.75% on property $75,001 and up.
• The land transfer tax is one time only, and there is no annual real estate tax.

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Want to build?
House plans must be pre-approved by the physical planning department. The building code is a combination of South Florida, Jamaica and the Bahamas. You can pick up "Building guidelines" and the "building code" which provide all the necessary information for a successful project.

Residential building costs in 2003 are on average $200.00 per sq. Ft. Depending on quality of finish. All the professional resources (architects, quantity surveyors, building contractors) are readily available. A single house project, when performed under a fixed bid by a competent contractor, should take about nine months for completion.

Undiscovered before, the 1990's have proven to be the decade of unprecedented growth for Providenciales. The two largest hotels Allegro Resort and Club Med have undergone major renovation, American Airlines the main carrier from Miami will increase the daily flights from two to three very soon. The diversity of investment and tourist sources (North and South America, Europe, the Middle East and Asia) have reduced dependence on any one region as contributor to continued growth. All indications suggest that "Provo" will continue to be the best investment/Tourism destination well into the next Century-.secure your piece of paradise before it's too late!

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