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: 19% [?]

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: 21% [?]

/24-7PressRelease/ - Nottingham, UK, July 10, 2008 - Dominican Republic property is attracting masses of media attention at the moment along with several other Caribbean islands and sun-drenched coastal locations around the world that offer similarly affordable properties. A recent David Stanley Redfern release announced that the Dominican Republic had retaken the top spot of having the most affordable Caribbean properties, and focussed on that point, without giving any real details of the bargain property.

The apartment-hotel complex offers studio apartments from 24,000 in Sosua, one of the Dominican Republic’s most popular areas with tourists. The complex, only a five minute walk from the beach is a long-standing, reputable and extremely popular resort, which readily enjoys occupancy rates of 80% and above.

Taking that with a pinch of salt as reader probably will, even with only 50% occupancy and at below the going rate for rentals on similar properties in the area, a rental yield of 12% is easily attainable for pure investors. Holiday home investors should still be able to take an 8% yield, obviously depending on how many weeks of the year they use it themselves, or offer it to friends etc.

The Dominican Republic is definitely a rising star, with low living costs it offers the opportunity of a cheap Caribbean holiday, and with major operators like Thomsons opening new Dominican Republic packages, serving their platinum range no less, global tourist are quickly cottoning on to Dominican charm and tourism is rising quickly.

Emerging markets where growth is fuelled by massively rising tourism numbers tend to be best for short-term investment, because people who fall in love with a place tend to buy resale properties in their favourite spots, with cost often coming as a second consideration. This is great news for the investors who get in early, as strong demand in the resale market makes it easier for them to collect the return on their investment. Not to mention tourism demand pushing up rental yields.

Of course business fuelled markets have the same benefits of affluence spreading through the communities, who then have money to spend on their own homes, but this process takes longer, and that is why these markets tend to be suggested for long-term investment.
Dominican Republic is showing all the right signs of being incredibly profitable for short-term investment, but is also suitable for long-term investors, who will collect healthy rental yields for as long as they choose before reselling.
Source: www.24-7pressrelease.com

Popularity: 19% [?]

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.

Source: www.free-press-release-center.info

Popularity: 8% [?]