Are you looking at real estate in the Caribbean? Why consider buying in the Dominican Republic?
With a strong and stable economy, the Dominican Republic is continuing to grow and is attracting buyers from around the world.
The excitement is contagious – and there’s a reason why.
For example, the Dominican Republic’s real estate prices are among the lowest in the Caribbean.
However, don’t mistake low prices for low quality. The current low prices are actually a reflection of values to be discovered in the market.
Here are 5 reasons to consider purchasing real estate in the Dominican Republic.
1. Expansive Beachfront Bargains
Across the world, beachfront real estate remains in high demand. In fact, in most locations is also comes with a very high price tag.
However, this is not yet the case in the young luxury market of the Dominican Republic.
2. Rising Tourism
Tourism continues to grow in the Dominican Republic.
However, the quality of the tourism is also rising with the numbers. In 2016, we had 6 million visitors:
“While sun and beach remain the country’s most sought attractions, the Dominican Republic continues to work to expand its competitive offerings in the tourism marketplace.
Between adventurous Puerto Plata, lush Samaná, sunny Punta Cana, luxe La Romana, historic Santo Domingo and more, the country prides itself on offering something for every type of traveler and budget. ” (Dominican Republic Ministry of Tourism, 2016)
As you can see, there is a lot to get excited about the growth in the tourism market!
3. Strong Rental Yields
Tourism is changing the face of the rental market in the Dominican Republic. As a result, many visitors now seek apartments, condos, and villas for their stay.
In short, they want to have a more authentic experience of what life is like in this beautiful country.
As a result, tourism is rising much faster than the number of available units in the commercial sector. This is helping to create a great opportunity for private owners to achieve strong yields.
4. Long Term Capital Growth Potential
Prices are low, tourism is growing, the economy is growing, and yields are good.
As the economy grows, the market’s stability improves. With continual infrastructure upgrades, eyes are quickly turning to our beautiful country.
This cycle is known to push up real estate values by a considerable amount over the long term.
5. Professional Help is Close at Hand
Navigating a real estate purchase in a foreign country can seem intimidating.
However, here in the Dominican Republic, we have excellent pathways to land and home ownership.
These pathways are found through working with trusted and reliable real estate agents. When choosing an agent, be sure to consider
- experience and network
- visible website client referrals
- their ability to communicate with transparency
- your own level of comfort
At Select Caribbean, we want to help you find the best fit for you. Contact us today and tell us how we can help you.