Real Estate in the Turks and Caicos Statistic update

The number of properties sold in the Turks and Caicos Islands has doubled the first quarter of 2012 over the same period in 2011, as per the statistics courtesy of the Turks and Caicos Real Estate Association.  This is a good indication that the Real Estate market is picking up.

Along with most other nations worldwide, the TCI real estate market experienced a slump in recent years. These figures reflect a positive upturn in the local real estate market, contributing to economic prosperity for the local economy and the local government.

There are no property taxes in the TCI, but a stamp duty is paid to government of between 0-10 percent, depending on the value and island in which the property is located on. This translates to potentially millions of dollars in much needed revenue for the local government.

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