The Caribbean has proved fertile ground for such solitary havens. The Dominican Republic is an emerging tropical destination of choice for world travelers already familiar with the Caribbean’s high-end offerings. The new 12,000-hectare Cap Cana development near Punta Cana is the country’s crowning glory. Multiphased, it will take 12 to 15 years to complete, eventually encompassing the Caribbean’s largest marina, five championship golf courses, 10 five-star hotels and a selection of multimillion-dollar villas for sale. Those who don’t want to wait are welcome to stay in the secluded Caleton Villas, which opened in March. Accommodations range from a one-bedroom bungalow with a sea view to a four-bedroom oceanfront villa, and run from $800 to $4,300 a night. In keeping with its subtropical environment, Caleton incorporates natural materials such as mahogany, eucalyptus, coral and limestone. The property boasts 4.8 kilometers of unspoiled white-sand beach, a 16,000-square-meter beach club, a 24-hour concierge, a selection of fine dining restaurants, and its very own Blue Lagoon, set amid rainforest vegetation. Entry only by yacht, helicopter or through three sets of heavily secured gate.

Source: http://www.newsweek.com

Popularity: 91% [?]

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/travel/destinations/secondhomes/2008-10-30-punta-cana_N.htm

Popularity: 57% [?]

Property outlook is great and real estate tourism is booming in the Dominican Republic, says the forecast from the Dominican Association of Real Estate Tourism Companies (ADETI).

U.S. $1.5 billion is invested in real estate property developments in Dominican Republic, says the ADETI President, Juan Bancalari. The real estate tourism prospective is even more upbeat considering the fact that it is expected to attract US$3.0 billion per year within three years.

Marinas, beaches and golf courses are the leading factors that make  real estate tourism and investment in the Dominican Republic so attractive. However, the country has competitors such as the wonderful beaches of Mexico and Central America. For this reason Bancalari, the president of Dominican Association of Real Estate Tourism Companies, says that the country needs to project an image of security for real estate and other types of investments to develop tourism and properties for European and American holiday vacationers.

It seems that the projection of a secure investment environment is working. As real estate development is experiencing a slump in Florida, a local engineering company is looking not only outside of the box, but also outside of the U.S. borders. “Bonita Springs-based Stafford Engineering will open the doors of a new office in downtown Santo Domingo, the capital of the Dominican Republic, on Tuesday and begin offering architectural, engineering, real estate, construction management and business relocation services in the Caribbean Island country.” – reports Naplesnews.com in its July 31, 2007 issue.

The newspaper says that “Other Southwest Florida businesses also are moving into Caribbean markets, Garcia added: Cape Coral-based Bellagio Homes and SJR Development are developing a residential community in the Dominican Republic, and The Jack Parker Corp., a Fort Myers-based real estate development company, is building a mixed-use community in Costa Rica.”

There is a change in tourism and holiday vacationers’ trends. According to Frank Rainieri, the vice president of ADETI, tourism is changing toward real estate tourism. “Before hotels were simply pure hotels. All the large chains of the world (…) are already entering the tourism real estate component. I believe that that already creates the new dynamics of investment in the tourism sector.” - Dominicantoday.com.

Tourism, and particularly real estate property tourism, has been among the top five currency generating factors for Dominican Republic. It was this type of tourism that created the boom in the coastal areas of Southern Spain in 1970s and 1980s, which used to be Spain’s most economically depressed areas. Today, due to the real estate tourism and boom in properties, these have become some of Spain’s most developed and attractive areas. The Dominican Republic intends to do just the same by attracting more real estate tourism and emphasising  that investing in the Dominican Republic’s real estate and property market is safe and secure.

Source: http://www.westindies-realestate.com

Popularity: 27% [?]

New Dominican Republic property developments sparked by increasing tourism with an 8% increase in visitor arrivals in 2008, predicted to reach 5 million by 2012

International property developers are taking advantage of the Dominican Republic tourism growth and the Governments plans for continued increased tourism by building top quality resorts for investors and holiday makers alike including the just launched Swaying Palms set to become one of Punta Cana’s premier residential resorts.

(PRWEB) July 18, 2008 — International property developers are taking advantage of the Dominican Republic tourism growth and the Governments plans for continued increased tourism by building top quality resorts for investors and holiday makers alike including the just launched Swaying Palms set to become one of Punta Cana’s premier residential resorts.

The Dominican Republic is quite possibly the perfect embodiment of a Caribbean paradise nation - with its palm-fringed, white sandy beaches which are lapped by warm azure seas and caressed by almost endless summer days, this holiday hotspot is booming on the back of intelligent government policy designed to maintain macroeconomic balance and enable and encourage investment.

The government and private sector are united in nurturing the tourism and real estate industries in the Dominican Republic as these are fundamental drivers of the overall economy, which is why the destination is becoming a more and more enticing place for a holiday or even a holiday home investment.

With consistent effort and policy planning in place to promote the delights and undeniable appeal of the nation, combined with significant investment into everything from road infrastructure to the enhancement of amenities and facilities for lifestyle tourism, the overall attraction of the Dominican Republic is improving annually.

This level of sustained and focused investment has already led to a significant rise in tourism numbers and it is also supporting far greater investment interest in the Dominican Republic’s affordable yet high-end property market. According to the nation’s Tourism Minister there has been an 8% increase in tourism arrivals in 2008 already, this is backed up by statistics from the Central Bank released earlier this year suggesting that in the first four months of 2008 alone, 1.6 million visitors arrived to soak up the Dom Rep’s stunning sunshine, an increase of almost 6% year on year from 2007.

To further enhance the appeal of the nation, its accessibility and economic success, Tourism Minister Felix Jimenez has just announced the details of the Dominican Republic’s 2008 - 2012 Tourism Plan. The plan is an outline for investment and it is designed to enable an increase in international arrivals of around 170,000 visitors per year, generating 200 million dollars in annual revenue and reaching 5 million annual arrivals by 2012. Supporting this plan is significant dual investment into increasing hotel bed capacity and also increasing the amount of residential resort style real estate in the Dominican Republic. The World Travel and Tourism Council predicts that this period of intensive advancement in tourism will result in at least a 3.7% annual increase in real GDP growth for the nation’s travel and tourism economy over the next decade.

According to Steve Worboys, MD of Experience International, the overseas property investment experts:

“For those seeking the ultimate property investment opportunity now could be the perfect time to invest into the undeniable potential that Dominican Republic property 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. Already ‘the Caribbean’s Number One Destination’ according to the World Tourism Organization, 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.”

The increase in demand for property in Dominican Republic resorts for rent from the growing tourism base is allowing developers of the best resorts in the nation to offer fantastic rental guarantees to would-be purchasers, and to even offer these rental guarantees on top of allowing owners access to their properties for their own Caribbean paradise vacation.

One such development, Swaying Palms, offers investors 7% annual rental guarantees, and currently the gated and private luxurious community of apartments and penthouses is for sale at 30% below market value with 20% capital growth per annum predicted and overall the ‘Projected Capital Growth’ for the next 5 years is 220%.

The properties are within a resort offering the best range of high-grade amenity - from tennis clubs to beach clubs and with owners benefiting from membership facilities to 5 of the areas top golf courses including the new Jack Nicklaus course at Cap Cana for example. Properties are available for sale with 50% mortgages from just $140,000.

Source: PRWeb

Popularity: 23% [?]