TURKS & CAICOS Law and Practice Contributed by: Oliver Chapman and Chris Smith, Griffiths & Partners Attorneys
Griffiths and Partners Attorneys PO Box 143 82 Cherokee Road Providenciales Turks and Caicos Islands Tel: +1 649 9418250 Fax: +1 649 9418251 Email: Contact@Griffithsandpartners.com Web: www.griffithsandpartners.com
1. General 1.1 Main Sources of Law
Increased activity over on North and Middle Cai - cos is now also being seen, with plans to revo - lutionise Sandy Point into a resort and marina, together with some other hotel and villa com - munity projects, which will further boost the real estate market in the Islands. Luxury condos along the famous Grace Bay Beach, and in Leeward as well as on private islands such as Parrot Cay and Ambergris Cay, continue to be in high demand, with increasing prices. Tourist numbers continue to increase year-on- year and are expected to keep rising. A number of purchasers who are seeking a safe-haven second home, should a pandemic comparable to COVID-19 occur in the future, are also con - tinuing to be seen. The real estate market continues to see con - siderable activity, and property prices are con - tinuing to rise year on year. In 2024, USD693.5 million of sales were made in the Islands, with a substantial 40% increase in the condominium sales market compared to 2023. The year 2025 has also got off to a very strong start.
The main sources of real estate law in the Turks and Caicos Islands (the “Islands” ) are local leg - islation, local case law and case law from Com - monwealth jurisdictions. 1.2 Main Market Trends and Deals In recent years, the real estate market in the Islands has seen huge growth in the develop - ment of managed villa properties, such as Beach Enclave, Wymara Villas, Blue Cay Estate, H20 Lifestyle Resort, the Residences by Grace Bay Resorts and others, along with individual ultra- high-end luxury bespoke villas. The Ritz-Carlton Hotel (which includes two resident towers) also opened in 2021. There are a number of large-scale mixed con - do/villa developments that have already com - pleted phases and opened to residents, such as The Strand, Grace Bay Resort’s Rock House and South Bank residential resort and marina, with others in the pipeline or under construction including the Bight Hotel, Vista/Hyatt ANDAZ, the Loren and the St Regis. The real estate mar - ket continues to grow rapidly, producing strong sales and increasing land prices.
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