Developer Offers Tax Credit for Buyers of Their Luxury Vacation Homes

February 09, 2011 / Russell Legato, Residential Property Analyst

Luxury vacation homes are offered tax free on South Caicos Island, located on the eastern end of the Turks and Caicos island chain about 25 miles west of Grand Turk Island—in the Bahamas. Sales for the luxury vacation homes are underway in the mater planned community in Phase II of Sailrock, south on Caicos island. Recently, a 21- parcel of land was acquired by Reserve at Summit Rock, a real estate firm based at Horseshoe Bay close to Marble Falls, Texas, to construct numerous golf- course homes, which will overlook a Signature Golf Course of Jack Nicklaus.

Developer Offers Tax Credit for Buyers of Their Luxury Vacation Homes

The luxury vacation homes in the Caicos Island is said to be a 2,400-acre master-planned residential development by Sailrock Development Limited.

The master planned community, the Peninsula, where the luxury vacation homes will stand, is said to be the second of about four development project by Sailrock Development.

Type of luxury vacation residential properties to be constructed in the community includes 445 condominiums, 310 villa homes, a resort hotel and a private beach club.

According to a press release, a number of the luxury vacation homes will be located both on oceanfront sites, and with ocean view sites.

Introductory price range begins at $199,900 USD for homes on oceanfront sites, and $79,900 USD for homes with ocean view sites.

A co-principal of Sailrock Development, Ted Weldon said, home buyers who decide to buy the homes early may benefit from a program, which basically reduces the home site buy-out price with the villa’s construction.

The luxury vacation homes’ master planned development, the Peninsula is situated just 543 miles south of Miami, Florida.

Articles other readers have found interesting...

Top News Stories:

Leave a Reply