Another Year, Another Record
As real estate advisors we are constantly asked “what is going on in the market?” 2023 was an interesting year as we listened to the prevailing wisdom from the United States and Canada being of a depressed market. It never quite felt like that in the Turks & Caicos, with record sales being recorded across the various sectors of the market and the launch of new developments that will be the backbone of vertical development here in the Islands for years to come.
As the year drew to a close it was clear that the general feeling in the market was correct, as the Turks and Caicos Real Estate Association recorded the highest ever sales volume in a calendar year, with over $768,000,000 in sales for 2023. There are many factors that attributed to this, reduced inventory driving up prices, completion of properties at luxury developments like Southbank, record sales on Grace Bay Beach and the continued increase in construction costs across the globe.
We continue to see new visitors to the Islands experiencing the same feeling, that they have travelled to many parts of the Caribbean, and the world, but there is something special about the Turks and Caicos Islands.
At The Agency Turks & Caicos we look back on 2023 as a year of resounding success. The growth of our team, the spirit of collaboration that is at the heart of The Agency and having helped many clients to find their dream properties here in the Islands.
Here’s to 2024!