News
Strong pound makes paradise possible
28 November 2007
With a strong track record of capital appreciation and a decade of continual increases in tourism, now has never been a better time to invest in Providenciales, the commercial and financial hub of the Turks and Caicos Islands in the Caribbean. The Islands are a British Overseas Territory with US dollars as the legal tender, ensuring an accountable legal and political system to protect all foreign interests. With pound sterling at it’s strongest against the US dollar for 26 years, investors stand to make hefty returns.
Overseas property specialists, movewithus, are giving potential investors the chance to take advantage of this opportunity with the Grace Bay Suites development. Situated on the coast of Providenciales, the condo complex is situated just minutes from all local amenities and ‘the world’s best beach’, as voted for by readers of tourism magazine ‘Conde Nast’.
With prices starting from around $192,000 (£91,000), investors receive rental income throughout the year. Occupancy projections for the first year are 60%, rising to 70% after four.
Tourists are being lured to the island in their droves, attracted by the beautiful beaches, coral reefs, diving and fishing. In order to accommodate this growing number of visitors, the international airport is being expanded to provide capacity for the new generation of ‘superjumbo’ Airbus A380 commercial jets.
Robin King, Founding Director of movewithus, said: “It’s great news for potential investors, who can take advantage of a paradise location with fantastic local amenities, plus make substantial returns on their investment from the high capital appreciation and increasing tourism in the area.”
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