Turks And Caicos Caribbean’s Top Spot For Luxury Real Estate

Turks and Caicos has ranked as the top hot spot for luxury real estate in the Caribbean, according to the latest report from Savills.

The tropical archipelago nation had the highest average price per square foot for prime residential property this year at $1,280, a 33% increase since 2019. Its luxury values outpace those in the Bahamas, Antigua and Barbuda, and Barbados.

Values are somewhat underpinned by its popularity with U.S. buyers, who account for 60% of buyers in the country, followed by Canada and the U.K. at 30% and 10%, respectively.

“Within the Caribbean region, destinations close to the U.S., such as Turks and Caicos and the Bahamas, tend to see higher prime residential pricing than locations such as Antigua and Barbados, which are less popular with American buyers,” the report said. “However, Antigua and Barbados attract a more global buyer base, with the majority of prime property buyers coming from the U.K. and Europe.”

Overall, prime-home prices in the Caribbean have risen 27% in the past five years. But despite the increase, it remains a good value compared to other second-home hot spots around the globe.
On a price per square foot basis, Caribbean destinations are an average of four times less expensive than Palm Beach, 75% less expensive than Miami, and 50% less expensive than the Hamptons in New York and Sardinia and Tuscany in Italy.

“For international buyers seeking a balance of work, leisure and investment potential, the Caribbean has re-emerged as a top choice,” Tom Vickery, head of the Caribbean desk at Savills, said in the report. “Increased flight connections from both Europe and North America has resulted in higher footfall through the islands and, in many cases, have turned a latent interest into a tangible purchasing option.”