The Dominican Republic has often been crowned as the “Jewel of the Caribbean”, and the title has not only been bestowed for the natural beauty and hospitable people. The Dominican Republic real estate industry has more to do with the fame of this island country than decades of tourism and partying freefall have ever done!
There are innumerable reasons why the Dominican Republic real estate scene has always been high on the priority list of real estate investment sharks and foreign entrepreneurs. Apart from the scintillating beauty of the neighboring premises (irrespective of wherever you buy the piece of property in) and the lenient property and relocation laws, there are some more that often slip out of one’s mind – but are very much a reason for people to immigrate to this pretty country!
1. An Ideal Place to Retire – For people who wanted an idyllic and serene place to retire – far from the madding crowd and the urban chaos, Dominican Republic real estate is the region you were looking for. From pristine beaches to white waves and the sparkling reflections of a setting sun, the comparatively placid and safe environs of the country can provide a great escape for the corporate honchos and business tycoons to unwind in.
2. Coastal Vacation Homes – Vacation homes are one of the most heavily invested sectors of the Dominican Republic real estate industry. And this can be justified by factors like the scenic beauty of the place, the hospitability of the native people, the vast range of avenues for entertainment, and laidback relocation & property laws. Moreover, the waters are also better for vacationing than in other coastal areas worldwide, with clear blue water and a plethora of entertaining activities available on the beach.
3. Stability of the Economy – The economy of the island country was untouched by the massive repercussions of the global economic recession in the last two years. What is surprising is the fact the Dominican Republic real estate sector was the strongest point in the country’s economy – whereas it was the property and real estate domains that had born the brunt of the recession worldwide. Stability, hence, has become the USP investors look up to while opting for properties in the region.
4. Resale Value of the Properties – The resale value of the properties is also one of the most crucial factors influencing the phenomenal growth of the Dominican Republic real estate sector of late. While in other regions, the resale value of the properties declines drastically with time, here the resale value of these properties holds its ground. This is an enormous advantage to real estate entrepreneurs, who usually use property transactions transcending over a period of not more than 10-15 years.
For the uninitiated, the Dominican Republic real estate has become a real threat for the American, Canadian & European property markets – as it has been siphoning off investors from the latter in huge numbers.
And as a real estate entrepreneur, it is better to invest in the region now than repent later!