The Caribbean is home to
some of the most established island property markets in the world,
but Middle Caicos is just starting to
come of age. However, with over 7,000 islands spread along the 4,020
kilometre island chain, there are some islands that have not yet
experienced the development seen on other well known islands. Middle
Caicos is an island in the Turks & Caicos archipelago that has
just seen important investment in its infrastructure. A new one mile
long causeway and road opened last year that links Middle Caicos to
North Caicos island. In turn, North Caicos airport has seen a runway
extension that will enable it to handle international flights, so
Middle Caicos island is now accessible to investors as it never has
been previously.
A new deep water port on North Caicos will
also make building materials more readily available to Middle
Caicos, which should reduce building costs. Common sense tells you,
when the local government invests $65 million in the infrastructure
and links between two islands with populations of 1,200 and 300,
they are gearing up for future investment and development. They have
even paved all the roads from North Caicos to Middle Caicos and
built a new marina in North Caicos. The largest island in the Turks
& Caicos, Middle Caicos, has an area of 48 square miles.
However, it is also the least populated of the group. It truly is
one of the last bastions of untouched Caribbean. Currently Middle
Caicos is attracting a lot of eco-tourism. Middle Caicos is known
for excellent bonefishing, deep sea and reef fishing. It is not
overly dramatic to say Middle Caicos is the new frontier of the
Turks and Caicos, as it has been inaccessible until recently. Yet at
the same time it is still an excellent place to escape major
developments, such as the multi stories seen on beaches
elsewhere.
International access to the Turks &
Caicos islands has improved greatly over the years, with services
operated by British Airways and many other carriers, and there are
also a number of financial considerations making buying in Turks
& Caicos a good idea. "There are no annual property taxes, no
income taxes and no capital gains tax. So how has the Middle Caicos
property market changed in recent years? Over the last ten years
property prices on Middle Caicos have grown by between 10 and 25 per
cent annually. However, property prices have doubled since they
built the causeway. This is infinitely less expensive than
comparable property on nearby, developed
Providenciales.