Providenciales, Turks and Caicos, BWI, Dec. 29, 2018 /PRNewswire-PRWeb/ -- A year following the September 2017 hurricanes, RE/Max Turks and Caicos Islands is looking forward to a return to stable growth in the Turks and Caicos. Recent hotel industry research show positive growth in the Caribbean. Although some Caribbean island nations have not reached full recovery, recently collected 2018 data from STR, Inc. shows a double-digit increase in overall performance growth as demand in the region continues to rise.
"The demand in Turks and Caicos has proven itself to be remarkably resilient," said Blair MacPherson, broker and co-owner of RE/MAX Real Estate Group Turks and Caicos Islands. "We saw the market heal itself relatively quickly after the 2017 hurricanes and are expecting strong investment opportunities for 2019."
Among the islands surveyed, the Turks and Caicos Islands was reported to have the highest rise in occupancy at 75 percent, and the most significant increase in average daily rate at 17 percent over the past year. Additionally, the Turks and Caicos Islands registered a 101-percent jump in revenue per available room, with Puerto Rico showing the second-largest increase in revenue per available room at 32 percent.
There are currently 46 hotels with a total 11,449 rooms under construction in the Caribbean, a nearly 95 percent jump from last year. Confidence in the profitability of the region is further supported by an overall positive growth trend in demand over the past seven years.
"All key indicators are pointing towards a bullish real estate market in the Turks and Caicos Islands for 2019," said MacPherson. "Market demand is expected to continue its growth in the new year and RE/MAX is looking forward to the new opportunities this may bring."
For more information about current investment opportunities in the Turks and Caicos Islands, contact MacPherson at 649-432-5677 or by email at [email protected].
About RE/MAX Real Estate Group Turks and Caicos:
The RE/MAX Real Estate Group Turks and Caicos offers unique, luxury real estate opportunities on the islands that are home to Grace Bay Beach, which has been named multiple times as one of the world's best beaches. With breathtaking views, world-class spas and resorts, fine dining, local culture and the awe-inspiring coral reefs, the Turks and Caicos Islands offers unique investment opportunities in a tax-free jurisdiction.
For more information, visit http://www.remax-realestategroup-tci.com.
SOURCE RE/MAX Real Estate Group Turks & Caicos Islands
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