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Hot Properties in Dominican Republic as Tourism Reaches a Record High
Property investors advised to enter a profitable market as development soars
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June 26, 2008 (FPRC) -- Tourism in the Dominican Republic is growing fast and the latest figures show that the industry has already grown a record 8% in 2008. A combination of government and private sector investment has resulted in the steady rise of visitors. With numbers predicted to escalate to 5 million by 2012 the country is ripe for property investment although new investors may be perplexed at where to place their capital. Caribbean Land and Property, who have an office and resident consultant, Alain Bonnefoy, in the Dominican Republic, offers a highly professional and personal service to clients in order to assist them locate and purchase suitable properties throughout the country.
Caribbean Land and Property currently has over 100 properties in the Dominican Republic, including hotels, resorts and residential properties that are ideal for personal use or as a vacation rental. International Property Advisor for the company, Wini Dean, says “One really hot investment right now is a new luxury condo-hotel development with direct beach access, tropical gardens and full hotel services available to every owner/guest. Each unit is being offered at pre-construction prices and buyers, who can stay as they wish and rent it out when they are not there, will gain a profitable income stream with many tax savings.” Dean adds that “This is an ideal time to invest in such a development as the property prices in the area look set to soar in the next 3-5 years”
Steve Worboys, MD of Experience International, offers similar advice as he states that “It is already the Caribbean's Number One Destination according to the World Tourism Organization [and] the Dominican Republic could soon be the number one destination for luxurious yet affordable resort style real estate offering exceptional rental yields in the region too,'
He added that 'This could be a good time to invest into the undeniable potential that the Dominican Republic represents. Not only is the nation affordable and committed to maintaining its accessible status as one of the most reasonably priced Caribbean destinations, but millions of dollars of investment are going into everything from golf courses to marinas, from boutique style shopping malls to spas and sports facilities,'
The Dominican Republic is well known for its white sand beaches and calm azure seas that are typically associated with a Caribbean vacation. In addition, the capital of Santo Domingo boasts of both historical attractions and a great modern day variety of restaurants and night life. Improvements in the country’s infrastructure continue on a daily basis as government investment is being poured into new roads, amenities and facilities to support the growing tourism industry.
Travel to the Dominican Republic is made highly accessible through 10 International airports in the country. There are many direct and regular flights to and from destinations in Europe and North, Central and South America and Santo Domingo is accessible by air from New York (3 hours), Miami (less than 2 hours) and San Juan (45 minutes).
As one of the most stable countries in the Caribbean and Latin America, the Dominican Republic has been able to attract overseas business with a favourable Foreign Investment policy. The country also has very low labour and living costs that make it very attractive for those who are looking for high profitability and security.
Caribbean Land and Property, who have one of the largest and most popular websites for property in the region are also offering increased accessibility into the booming market with a mortgage facility for non-local investors in the Dominican Republic.
Send an email to Terri Henry of Caribbean Land and Property
+1 767 449 0599
Keywords:
Caribbean Property, Real Estate, Tourism
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