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Abaco Mortgage

Mortgage Interest Rates

Understanding how mortgage interest rates are quoted

Just a Hop From Miami, a New Place in the Sun

IN the Turks and Caicos, the sales pitch starts as soon as you step off the plane. "We are building your dream," says one condo ad hanging in Providenciales International Airport's immigration control room.

Or go for a swim along Grace Bay, a 12-mile stretch of soft-sand beach. Floating in the perfectly clear waters, you can count off the building projects, in stages from pile of dirt to nearly complete, from east to west: the Tuscany, Grace Bay Club Villas, Pinnacle, Seven Stars, Regent Grand, Mandalay, Somerset, Alexandra, Veranda.

And that's just one beach. Luxury condos are sprouting up everywhere in this British overseas territory, from the main tourist island of Providenciales to the currently uninhabited island of West Caicos. Even at six-figure prices, buildings are selling out, mostly to American buyers, before they're even finished. (The American dollar is the islands' official currency.