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The DR Becomes A Caribbean Real Estate Paradise

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The DR Becomes A Caribbean Real Estate Paradise


At a time when so much real estate news is bad, tourism officials in the Dominican Republic are having good things to talk about.

This summer, then-tourism minister Felix Jimenez announced a billion-dollar government infrastructure investment that includes a new cruise ship marina and road upgrades for his island nation. Then, last month, his successor, Francisco Javier García, announced that private investors have begun an additional $9 billion in developments.

The announcements included especially good news for visitors headed to the hot spot of Punta Cana, a peninsula on the easternmost coast of the Dominican Republic that has long been the home of all-inclusive resorts and, more recently, several large residential developments.

An international airport already serves the area, but the new infrastructure investment will add high-speed ferry service between Punta Cana and Samaná, another popular tourism peninsula on the northeast coast. It also will build a new highway that will reduce travel time to the capital of Santo Domingo from four hours to about an hour and a half. Both projects are scheduled for completion before 2012.

Punta Cana’s main attraction is more than 20 miles of powdery white beaches. About 30 beach resorts, casinos and second-home options occupy this stretch. Several of the larger residential developments, including Roco Ki and the Punta Cana Resort & Club, offer complimentary mini-vacations for prospective buyers.

Housing prices in the upscale developments generally begin in the $400,000-$600,000 range and go upward into the millions. For buyers willing to look outside those developments and forgo resort-style amenities, prices can be much lower. Three-bedroom houses start at $250,000. One-bedroom condos begin at under $120,000, and many one- and two-bedroom condos are in the $150,000-$200,000 range.

Affordability, however, is not the Dominican Republic’s sole appeal. For second-home buyers, the nation also offers a stable democratic government, ease of doing business in a region otherwise infamous for red tape, easy air access, a vibrant community of other foreign home buyers and a top-notch portfolio of golf courses with layouts by the likes of Tom Fazio, Jack Nicklaus, Pete Dye and Nick Faldo.

A look at three Punta Cana neighborhoods:

•Cap Cana. This huge development (capcana.com) spans 29,000 acres and includes nearly 3½ miles of beach. The master plan calls for 5,000 residences, as well as hotels, golf courses, shops and restaurants, some of which are already open. There are 26 residential communities now, ranging from six to 474 units. Home sites begin in the $400,000 range, bungalows start at $480,000, and single-family houses start at $895,000.

•Punta Cana Resort & Club. The latest phase of this upscale resort (puntacana.com), built on a stretch of beach and around a golf course, is The Estate, which encompasses three enclaves of single-family houses. Lots in the Arrecife and Hacienda enclaves start at $450,000, and the gated Corales enclave commands $1.8 million and up. The Estates are being co-developed by singer Julio Iglesias and designer Oscar de la Renta, both of whom have built homes in Corales.

•Roco Ki. This new development includes more than 3 miles of beaches and coastal cliffs, atop which sits a Nick Faldo golf course. For housing, choose from several residential communities and two resort hotels: the Westin and the Fairmont. The Fairmont, expected to be ready in 2010, will offer fractional ownership in a residence club. The Westin, scheduled for next spring, already is selling options that include high-rise condos, single-family houses and bungalows. Prices range from $475,000 for a condo to $2.75 million for a beachfront home.

Source: http://www.usatoday.com

Popularity: 3% [?]

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Investing in the DR, Now

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Investing in the DR, Now


The crystal clear waters, sandy beaches, tall mountains and lush valleys of the Dominican Republic make it the ideal place for your vacations. In fact, the Dominican Republic is one of the most popular touristy destinations in the world, and for good reason. We are talking about a paradise island, with wonderful tropical weather all year round, breath taking landscape and very friendly people. The Dominican Republic is indeed a wonderful holiday destination, especially when you want to escape the cold and rainy season in European countries. Imagine what it would be like to be able to get away from all the stress and routine of your daily life and relax in your own house on the beach in the Dominican Republic. Furthermore, with the growth that the tourism sector is experiencing in the area, an investment in Dominican Republic real estate (Dominikanische Republik Immobilien) would definitely be profitable.

In the past twenty years, there has been a noticeable increase in the number of investors interested in Dominican Republic real estate (Dominikanische Republik Immobilien), for either travel purposes or commercial ones. This island is the most popular tourist destination in the Caribbean, and therefore there is little wonder why real estate Dominican Republic - Immobilien Dominikanische Republik- is such an active segment.

Many people from European countries would say that the cost of living in this beautiful island is quite low, and therefore, having and maintaining a second home there should not be too expensive. A significant part of the Dominican Republic real estate market (Immobilien Dominikanische Republik) is purchased for residential purposes, be it as temporary vacation homes or as permanent residences. Another important part in the real estate sector in the Dominican Republic is represented by investment properties. Tourism is the biggest industry in the Dominican Republic, and consequently, investment in the real estate market with tourism trade purposes has proven to be quite profitable. Many foreigners have invested in real estate Dominican Republic (Immobilien Dominikanische Republik) in apartment projects, resort complexes, or villas and estates.

Real estate analysts predict that this trend of real estate properties in the Dominican Republic (Immobilien Dominikanische Republik) being purchased by foreigners will continue for at least one decade. The values of Dominican Republic real estate (Dominikanische Republik Immobilien) are rising, which means that if you are interested in this sort of investment, the present moment is a very good time to purchase such properties. More and more people from the United States and The European Union are choosing the Dominican Republic over other destinations as the ideal place to spend their holidays. And a significant percentage of these tourists have chosen to purchase a holiday home in the Dominican Republic, or have acknowledged the profit potential of tourism in this country and have successfully invested in real estate Dominican Republic (Immobilien Dominikanische Republik).

There are some very good web sites that specialize in Dominican Republic real estate (Dominikanische Republik Immobilien). These web sites provide lists of various properties on the island (including houses, hotels and land lots) in different locations and within a large price range. Be it holiday residence or investment property, there is something for everyone in the Dominican Republic real estate market.

Source: www.gejayan.com

Popularity: 2% [?]

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Posted in Featured, General, North Coast

Residential Estate in Dominican Republic

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Residential Estate in Dominican Republic


The architecture and urban design firm A-cero, led by Joaquin Torres, has undertaken the project of a hotel and luxury residential complex covering an area of 1,400 hectares in the coastal district of Cumayasa in the Dominican Republic.

The project consists in more than 3,000 luxury villas, 3 hotels, 4 golf courses and a marina, providing a place to enjoy a variety of water sports, tennis and ecotourism, in addition to its unparalleled greens for golf lovers.

By the use of a contemporary design language, the project seeks innovation, making an architecture of details, tuning in the constructive elements to develop multifunctional spaces and resistant structures, taking in account the environment and context of the island where the complex is located.

The predominant building materials in the project wood and natural stone combined with steel and glass, the latter used sparingly because the weather and high temperatures.

The rooms are naturally ventilated, and their interior design allows an interesting play of light, shadow, color and rhythm, created with selected top-quality materials.

The main idea is to create a settlement of high environmental quality and low density, which incorporates native vegetation.

The landscape design follows a contemporary style that embraces the houses, scattered on a stair pattern, softening the impact of their presence and creating a dynamic appearance to the whole.

Source: www.a-cero.com

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Cap Capa Gets Rave Reviews

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Cap Capa Gets Rave Reviews


‘Way more than just a ‘Caribbean hideaway’

If you had extra cash about six years ago and the foresight to buy into Cap Cana’s massive 30,000-acre development on the eastern tip of the Dominican Republic, your real estate investment would have realized some serious appreciation. It’s still not too late. It just may cost you more. Five years ago the 60 Founders’ real estate packages sold for $800,000. Today they are valued at $2.5 million and up. This is one big Kahuna - comparing Cap Cana to a Caribbean hideaway is like comparing the QEII to a Sunfish. Still with exclusive gated enclaves like Trump’s Farallon Estates, those with the means to pay for their sybaritic pleasures will get what they want. But timing could be everything: 64 lots in Farallon selling for $3.5 to $15 million are already sold. Only four are left. A project of The Abrisa Group of the Dominican Republic, Cap Cana is not for the all-inclusive, pile-your-plate crowd. The master plan calls for a low-density residential community costing more than $1.5 billion targeting those who can afford a minimum of $480,000 for a two-bedroom condo and $1 million and up for an estate lot. When completed, Cap Cana will have three miles of beaches, five golf courses, a tennis and racquet complex, 500 hotel rooms, numerous “villages” with a total of about 5,000 residences, along with restaurants, shops, country clubs, polo grounds, casino, world-class spa and marina. Golf at Cap Cana Hugging the broken coral coastline with grit and tenacity and set against the startling blue sea, Punta Espada, the first Jack Nicklaus Signature course in the Dominican Republic, hosted its first Champion’s Tour event. “I could not take my eyes off the water. It was so cool,” said Mark Weibe after winning the three-day event. “My friends back home asked if it was really that beautiful. I told them, ‘No, it’s more beautiful.’”

Indeed waves crash high against the rocks close to tees and greens; ribbons of turquoise splash into coves while lush paspalum grass carpets the fairways. Once the $26 million Las Iguanas, the second Nicklaus course, is completed, Punta Espada will become private (membership fee, $50,000) while the third Nicklaus course, Mountain Golf Course along with Las Iguanas will be public. Cap Cana Real Estate The first phase comprising 8,680 acres, is up and running and last November Cap Cana reported sales of close to $690 million in residential sales as smart marketing quickly moved 480 villa units in the Green Village enclave. Now buyers who purchased a package (two villas) are getting their investment back by selling one of the units. A one-bedroom resale is listed for $480,000 while the package resale price is around $2 million.

New on the market are Racquet Village starting at $350,000 for a lot, and Las Iguanas Villas, 67 villas selling for $2.7 to $6.7 million. Ranging in size from 6,500 to 10,700 square feet, owners will have prime access to the Las Iguanas Golf Course, the Juanillo Beach Club, restaurants and bars. The Marina at Cap Cana Already the $96 million Cap Cana Marina is a happening place as trendsetters come to dine, shop, party and watch the action from the balconies of their townhouses as yachts come and go. When completed, the Marina will have 1000 slips able to accommodate yachts up to 250 feet. Cap Cana BeachRecently an outdoor fashion show by designer Arcadio Diaz, blew the champagne-sipping, white-linen dressed beautiful people away as stunning Venezuelan models - young ladies in impossibly high heels and thongs and barefoot, bare-chested men - strutted their stuff up and down the runway. With plenty of waterways, three small lslands and a Grand Canal, Vaporetto water taxis run shuttle services from shops to restaurants to the small islands. Of the various Marina communities, the four-bedroom Ribera Marina Town Homes are selling from $3.1 to $4.6 million including membership in the Cap Cana Yacht Club. Trump at Cap Cana Bigger-than-life photos of “The Donald” line the main drive announcing:Trump at Cap Cana. Two golf courses, Farallón and Dolinas, golf villas, lots, beach club, condo hotel, and residences with magnificent ocean views will all be contained within the gated community. What these select few will get for their money are drop-dead views 200 feet above the Caribbean. What they won’t get is beachfront property (there is a private beach club). But then, looking down on everything and everybody does have its price.

Other Cap Cana projects on tap Among other projects on the horizon are The Golden Bear Lodge; Racquet Village where 100 lots are selling form $480,000-$680,000; Mountain Golf Course and Village; Soto Grande, an 88-room boutique hotel and 352 high end beachfront units; and the Altabella Fishing Lodge. Ritz-Carlton has two projects on the drawing board: a 220-room resort with a 16,000 square-foot spa and beach club and 194-privately-owned beachfront and golf residences. Las Canas, a village with shops, the Heritage School and other public buildings is a work in progress. Sanctuary Cap Cana Golf & Spa The 176-suite Sanctuary condo hotel and Mandara spa blend elements of the Spanish colonial era, the Caribbean and modern minimalist architecture.

A big plus is the glorious white sand beach shaded by coconut palms and white canvas open “tents” and set up with uge cushioned double chaises, hammocks and lounges. Nightly rates are $350 to $7,000. In addition to the hotel, visitors can rent one of the 16 three-and four bedroom Caleton Villas with soaring thatched roofs and views of the sea and Punta Espada golf course. Nightly rates are from $1,800.

Source: www.golfcourserealty.com

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Posted in Featured, Punta Cana