Broker and co-owner of RE/MAX Real Estate Group Turks & Caicos Islands, Blair MacPherson, was recently featured in an Investopedia article written by Amy Fontinelle. The piece discusses the ins and outs of investing in luxury properties, both domestically and internationally.
Founded in 1999, Investopedia is a website which provides consumers with educational content and resources to help them with investment opportunities. Millions of people visit the site each month to stay up-to-date on current investment trends and news.
According to the article, investments in luxury real estate are on the rise around the world, despite vulnerability in the global economy. Several of the world’s most prominent cities have experienced surges in luxury home sales in recent years and continued growth in the future is predicted.
An increasingly popular decision for today’s wealthiest investors is to purchase land and create custom homes they can put their “personal stamps” on. Building a home from scratch ensures them of the exact features and amenities they want.
One of the newest and most popular options for buying preowned luxury homes is a strategy known as “flipping.” When investors flip a home, they completely remodel an existing property to make it suitable for their needs. Many investors enjoy renovating so much that they have made a career out of flipping houses.
In the article, Blair discusses many of the benefits of investing in luxury real estate in highly coveted areas, such as Turks and Caicos. Because the island chain is a British territory, there are no annual property taxes and no capital gains taxes on transferred property, property ownership is protected by land registry, and the US dollar is the country’s official currency.
Blair also explains why Turks and Caicos is an ideal international investment. Most homeowners in these islands rent out their homes as vacation properties when they’re not living in them, providing a good profit. Experts don’t expect these positive results to dwindle in the future. Several of Turks and Caicos’ luxury resorts are considered among the best in the Caribbean, and Grace Bay Beach was recently ranked the “best beach in the world” by the Huffington Post travel blog.
Blair MacPherson Interviewed in Nob Hill Gazette
Turks and Caicos Islands real estate broker Blair MacPherson was interviewed for and quoted in the travel section of the Nob Hill Gazette. Blair discussed the tax-free jurisdiction on the islands and shared additional investment benefits and advantages of homeownership in the Turks and Caicos Islands.
Titled “Great Second Home Tax Breaks and Perks,” the article was written by Teresa Rodriguez and explores the benefits and investment options available to homeowners who are in the market for a second home, a vacation or rental home, or are looking to invest in real estate. The article interviews experts in areas across the US including Delaware, Hawaii, Lake Tahoe, Las Vegas and San Francisco. Blair is the only international real estate expert featured in the article.
Blair’s interview focuses on the many benefits and advantages available to investors and home buyers in the Turks and Caicos Islands. As an off-shore tax-free jurisdiction, there are no annual property, income or capital gains taxes assessed onon real estate or any revenue generated from it. As a popular tourist and vacation destination, home buyers have the opportunity to rent out their second homes as vacation properties and generate additional revenue, which can offset operating or maintenance costs.
In addition, there is no restriction to purchase or hold real property, and investors have the opportunity to become a citizen of Turks and Caicos with a specific monetary investment.
The real estate market in Turks and Caicos has seen steady and continual growth. Despite the islands’ popularity among tourists and celebrities, Turks and Caicos still provides a feeling of exclusivity and privacy not felt on other Caribbean islands. Benefits are available to both seasoned investors and new buyers. Blair MacPherson is dedicated to walking potential buyers through the entire process and his knowledge of the rules, regulations and laws in Turks and Caicos makes him a valuable asset to any investor.