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," says Paul Taylor of Commercial Focus Realty Inc. "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," Taylor comments. "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," says Taylor. "Yet at the same time it is still an excellent place to escape major developments, such as the multistoreys 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," Taylor explains. 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," says Taylor. "However, property prices have doubled since they built the causeway. "We are marketing the Wave Crest development on Middle Caicos; 62 building lots from £23,000 to £178,000. This is infinitely less expensive than comparable property on nearby, developed Providenciales."

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Article published July 2008