At the Turks and Caicos Islands Business Outlook 2025, industry expert and White Rock Realty owner Snjezana Andrews highlighted the critical role of real estate in Turks and Caicos as the second-largest non-tourism revenue generator. She explained how property development continues to shape the country’s economy and future growth.
1. Real Estate in Turks and Caicos as a Key Revenue Driver
Andrews pointed out that, according to national budget documents, accommodation tax generated $102.5 million in 2022–23 and $106.5 million in 2023–24. Real estate stamp duties collected $56.7 million and $58.3 million in the same years. This makes real estate in Turks and Caicos the second-largest industry generator nationwide, behind tourism and ahead of import duties.
2. Trends in Land Sales and Real Estate Investment in Turks and Caicos
Pointing to soaring land sales, she cited the Sotheby’s Q1 2025 report showing average land prices of $2 million, with North Americans comprising 45% of buyers, followed by Canadians at 25%. Andrews traced the evolution of investment: from Grace Bay’s early dominance deep into Long Bay, then “Venetian Road,” Discovery Bay, and now North Shores—highlighted by exclusive developments like La Sirena Villas and high-end projects sprouting near North West Point. For more local real estate news and insights, readers can visit Magnetic Media.
3. Expanding Real Estate Development Beyond Providenciales, Turks and Caicos
Investment is also reshaping other islands. In South Caicos, luxury resorts such as Sailrock and Salterra have driven land values up by about 300%. Meanwhile, North Caicos now has entry prices of $100k-plus per parcel. These trends indicate growing interest in diversified real estate markets across the islands.
4. Infrastructure as a Pillar of Sustainable Growth
Andrews emphasized that sustainable growth requires robust infrastructure. Roads, utilities, waste systems, and housing must keep pace with rising development. She warned, “Rapid surge in development can create crisis if you are unprepared, but it also creates opportunity”—for retailers, service providers, construction, financial services, consulting, and more.
5. Real Estate as a Catalyst for Economic Expansion
A Certified Public Accountant and serial entrepreneur, Andrews stressed that real estate in Turks and Caicos drives wider economic activity. “With proper planning, TCI can evolve from humble beginnings to a global luxury destination,” she said. Her presentation left the audience with one clear message: property development is both a responsibility and an opportunity to build a sustainable, prosperous future.
“Now is the time to invest in the next chapter of Turks and Caicos real estate.”
Editor | Deandrea Hamilton