Turks and Caicos Real Estate Prices
Real estate in the Turks and Caicos has seen an exponential rise in prices over the last two decades, with a notable increase since the COVID-19 pandemic. This is due to many factors, including population growth (estimated to have nearly doubled since 2011), an increase in tourism, and a large number of non-residents buying second homes in the country.
For the 2014 financial year, the Government received $21.9 million in stamp duty on land transactions. This more than doubled to $48.5 million for the 2024 financial year. This is both a combination of increasing prices and more activity in the real estate sector.
Real estate in the Turks and Caicos is expensive by most metrics, particularly so when compared to local salaries. Significant purchases of local real estate by non-resident investors and speculators have driven up prices, and have contributed to a cost-of-living crisis in the islands. Discussions surrounding the unaffordability of both renting and buying from a resident perspective are common.
This has led to the Government attempting to introduce concessions to make housing more affordable, such as reduced stamp duty for purchases by citizens, and proposals for Government-subsidized housing projects.
Who Can Purchase Real Estate?
There are no restrictions on land ownership by foreign individuals. Foreign corporations cannot hold land directly, but can own it via a local corporation.
Cost of Land in Turks and Caicos
Raw land has seen the greatest increase in prices. The median price for an acre of land across the Turks and Caicos is $490,000, with the range being $223,611 to $904,830. Excluding beachfront/waterfront land, the median is $448,113, with a range of $183,065 to $697,368.
When Providenciales was originally surveyed in the 1960s, most parcel sizes were around 1 acre (0.4 hectares). However, in recent years, many of these parcels have been subdivided to produce lot sizes of 0.3 and 0.5 acres (0.1 to 0.2 hectares) due to the high acreage cost.
Availability of beachfront/waterfront land is limited, especially on Providenciales. North Caicos currently has the widest availability of beachfront land available. Note that waterfront includes oceanfront and canalfront land, and some waterfront land may be located on what some may consider to be a swamp.
| Non-Beachfront/Waterfront Land | |||
| Price Per Acre | |||
| Island | Median Price | IQR Low | IQR High |
| All Islands | $448,000 | $183,000 | $697,000 |
| Providenciales | $584,000 | $449,000 | $996,000 |
| Grand Turk | $141,000 | $107,000 | $190,000 |
| North Caicos | $169,000 | $85,000 | $396,000 |
| Middle Caicos | $159,000 | $111,000 | $193,000 |
| South Caicos | $327,000 | $320,000 | $504,000 |
| Beachfront/Waterfront Land | |||
| Price Per Acre | |||
| Island | Median Price | IQR Low | IQR High |
| All Islands | $833,000 | $490,000 | $3,019,000 |
| Providenciales | $3,048,000 | $1,157,000 | $4,966,000 |
| Grand Turk | $325,000 | $163,000 | $496,000 |
| North Caicos | $769,000 | $617,000 | $960,000 |
| Middle Caicos | $196,000 | $152,000 | $218,000 |
| South Caicos | $366,000 | $204,000 | $731,000 |
Cost of Homes in Turks and Caicos
Construction prices are high in the Turks and Caicos, and housing costs reflect this. As all building materials are imported, costs for materials can be around 50% higher than in the United States, with some materials double North American prices.
Labor is also expensive relative to North America, and general labor shortages in the construction industry cause prices to trend even higher.
The 2025 median price per square foot of all housing types across all islands, inclusive of land, is $724, with a range of $481 to $995.
Due to the lack of sufficient data for the other islands, the data below is only for Providenciales.
| Home Prices on Providenciales | |||
| 2-Bedroom Homes | |||
| Type | Median Price | IQR Low | IQR High |
| 2-bed home, non-waterfront | $783,000 | $626,000 | $1,124,000 |
| 2-bed condo, non-waterfront | $795,000 | $770,000 | $1,225,000 |
| 2-bed home, waterfront | $2,388,000 | $2,219,000 | $3,021,000 |
| 2-bed condo, waterfront | $2,400,000 | $2,200,000 | $2,913,000 |
| 3-Bedroom Homes | |||
| Type | Median Price | IQR Low | IQR High |
| 3-bed home, non-waterfront | $1,575,000 | $653,000 | $2,150,000 |
| 3-bed condo, non-waterfront | $1,132,000 | $1,077,000 | $3,800,000 |
| 3-bed home, waterfront | $2,875,000 | $1,875,000 | $3,740,000 |
| 3-bed condo, waterfront | $3,875,000 | $3,399,750 | $4,362,250 |
Additional Costs
Stamp Duty
It is important to note that the numbers above do not include stamp duty, which is payable at a rate of 10% (for nearly all purchases). There is no annual property tax in the Turks and Caicos.
Strata Fees
Purchases of condominiums incur strata fees, which are often between $7,500 and $15,000 annually. There are often restrictions on rentals of condominiums as well, and you may be required to rent via the strata company (as opposed to independently via Airbnb and similar platforms).
Homeowners Association Fees
Some areas on Providenciales, such as Leeward, have a homeowners association that collects dues. Obtaining the title of a parcel (deed) will indicate whether there is a homeowners association applicable to the parcel.
Locations
The island of Providenciales has the largest and most active real estate market. An important consideration for Providenciales is location, as many parts of the island are experiencing infrastructure shortages (resulting in traffic, water shortages, etc.) that will likely progressively worsen in years to come. Parts of the island also have elevated crime. Real estate prices typically reflect these considerations.
Lack of proper planning control is a serious issue, especially on Providenciales. Some residential areas are located in close proximity to the island's landfill, and frequent trash fires—especially when coupled with adverse wind conditions—can be extremely unpleasant. In areas with undeveloped land, be advised that whilst nearby parcels may be zoned for residential use, zoning as a whole is used more as a guide and suggestion. It is not difficult for nearby proprietors to rezone their properties for commercial and industrial uses (such as gas stations).
Variations in Prices
The prices in this article are taken at a snapshot in time (2025), and price ranges are based on 25–75% of the market to exclude extreme outliers. Many of the properties in the 0–25% end of the market have deficiencies, but may be the right choice for some buyers. While older condominiums can offer competitive prices, some of the older projects built in the late 90s and early 2000s have structural issues that may require costly repairs and remediations.
Islands other than Providenciales (excluding private islands such as Pine Cay and Ambergris Cay) generally have lower land prices but higher construction costs, as materials usually must be brought over from Providenciales. If you plan to build on another island, the difference in price is not as large as you might expect.
Generally, there is high demand for properties at the low end of the market. This means the availability of these cheaper properties is limited, and that the demand artificially increases their prices.
Gaining Residency in Turks and Caicos
Foreign homeowners can either visit their property as a tourist or obtain annual residency permits (no work allowed) for $1,500.
It may be possible to obtain permanent residency based on large real estate purchases (more than $1 million USD)—however, these schemes change often and are not easy to apply for. It is important to note that if you are intending to benefit from one of these schemes, you must apply for it in advance (before you purchase your property).
Persons looking to work in the Turks and Caicos, such as self-employed persons, are typically required to obtain an annual work permit at a cost of $9,500.
Purchasing Real Estate
Most property in the Turks and Caicos is purchased via real estate brokers, although some direct seller-buyer sales happen. The seller typically has to pay brokerage fees of 6–10%, whereas the buyer typically pays closing costs (legal fees) of around 1% of property value.
Getting a mortgage in Turks and Caicos can be difficult. Mortgages are generally available for downpayments of 50% (including via specialized mortgage brokers). For smaller down payments, it’s common to use a local bank, though the process can be lengthy and complicated.