A stunning Caribbean location, excellent value for money and a growing economy all help create that winning combination required by property buyers today.
The Dominican Republic is undergoing a distinct resurgence in tourism property demand.
Despite being popular since the ‘80s, it fell from vogue for several years, until around 2004, when economic growth and strong government focus on welcoming foreign investment to the island has meant a strong market for property buyers in the Dominican.
Property prices are still set at a fraction of many other Caribbean islands allowing buyers to purchase a lot more for their money. With capital growth optimistically predicted by the Wall Street Journal to continue to rise to as much as 50% per annum, from today’s 20% p.a., buyers in key tourist locations can expect to enjoy not only dream-like holidays in paradise, but also capital appreciation and rental yields beyond expectation.
Property in the Dominican Republic is attracting land and property investors who seek to purchase from the start and reap great rewards from commercial, tourism and residential properties. Cities such as Santo Domingo and Santiago are fast expanding and many timely buyers are purchasing land on their fringes and waiting for prices to creep upwards. Meanwhile, an array of beautiful and affordable resort developments are now underway, particularly on the eastern tip of the island, attracting renewed interest from tourists, second homebuyers and investors alike.
With easy air access via two international and two national airports, the Dominican Republic has become a first-class holiday destination, creating a ready market for buy-to-let investors in its tourist locations. Proximity to 300 million holidaying North Americans and a larger number of daily flight arrivals means that US visitors today make up nearly a third of visitors to the Dominican Republic. New low-cost air routes from US cities mean easy access as a holiday destination, while the Dominican Republic still offers a lot more for your money than other Caribbean islands.