3 Positive Forces Set to Reward
Property Investors Greatly In 2016
Caya Private Residences offers a way for individual investors to make a decent return in a safe, low-risk way. It’s what our founder used to make himself and his partners a fortune. Now you can do the same.
As first appeared in the upmarket Turks and Caicos publication, Times of the Islands, here’s what makes this such a strong opportunity right now…
Greg McNally first started working as a young lawyer in Turks and Caicos (TCI) more than 23 years ago. As a founding partner of what was once one of the largest law firms on Provo, he quickly became a fixture of the local business scene, playing a part in numerous high profile developments including The Sands Resort, Northwest Point Resort and The Island Club on Grace Bay Road.
And although he’s enjoyed much success from the development of TCI over the past few decades, he believes the trends are pointing to a new renaissance in local investment.
“It’s all about the trends.,” says McNally. “Wealthier Canadian and American travellers who stopped coming after the financial crash are now returning, pushing up the prices on the rental market. That’s causing certain vacationers to look closely at the property market, pushing up sale prices. And then there’s a whole new audience from Asia and South America entering the TCI market for the first time. Investors who get in early should benefit greatly.“
North Americans Are Returning in Big Numbers
Prior to 2008, Turks and Caicos was very popular for North American travellers, especially from East Coast financial centres like New York and Toronto. But with the recession came a dramatic pullback that hit TCI hard as the jet setters sharply reduced spending.
According to McNally, that has now changed. “As wealthy Canadians and Americans return, they are choosing to rent. This has caused the rental market to explode. In the past year, my investment penthouse in Grace Bay has been booked out almost solid – even during off-season. It’s been quite lucrative.”
The result? It is pushing some wealthy renters into buying.
Growing Property Market to Push Up Prices
"The guys out of Toronto and New York are smart. They see that spending $20,000 for a two week rental isn’t the best use of money. So they’re looking closely at the property market again.”
In McNally’s mind, this will soon lead to appreciation in certain types of property the affluent jet setters want. In fact, his latest venture, Caya Private Residences, is set to help smart vacationers capitalize on this trend. “I spotted an opportunity to help these investors turn their rental expense into a real asset with high potential for long-term capital appreciation.”
Whole New Markets Increase Demand
But arguably the most important trend in McNally’s eyes is the attraction of Asians and South Americans to TCI.
“The people buying and building here are much different than when I first started years ago. Back then, it was mostly wealthy finance folks from the US and Canada. Now we’ve seen different groups starting to take a real interest and invest real money. This is the most exciting long term positive force for TCI.”
For example, Marriott has announced a project in the famous beach area of Grace Bay. According to McNally, “What most people don’t know is that the project is backed by a group of Venezuelans. Their economy, as with many in the area that relied on commodities, is in rough shape. They are looking to diversify and are bringing serious money to the area.”
How to Capitalize on these Trends
If you’re interested in learning how you too could benefit from these trends, McNally is offering a free investment guide to qualified investors. You’ll discover how to buy TCI property for as much as 20% under market rate.