A Guide to Property Investment Dominican Republic
The Caribbean region with its legendary turquoise waters has long called to holidaymakers and investors who want a different pace of life. The tropical paradise found in the Dominican Republic is one Caribbean destination that is presently capturing the hearts and minds of many investors.
The Dominican Republic’s desire for growth, its welcoming nature and beautiful sights combine to inspire investor confidence. We at Nubricks.com cite the following 10 reasons as prime factors driving investor confidence in property in the Dominican Republic as an investment commodity: -
1) The Dominican Republic’s Stable Government Inspires Investor Confidence
The Dominican Republic has enjoyed a stable representative democracy for several decades. Its forward-thinking economic programmes and strong ties with other countries such as America and the UK help inspire investor and holidaymaker confidence in this destination. The country offers a very welcoming environment for holidaymakers, expats, retirees and investors. The stability has lent itself to growth in the economy and the tourism industry in particular, and this is good news for investors interested in potentially strong resale and rental returns.
2) Strengthening Relations with the UK and Europe Bodes Well for Investors
Whilst the Dominican Republic did have a period of closed off relations with much of the world, all of this has changed in the last decade or so. Its relations with the United States are particularly strong. It also has quite good ties with the UK and many European countries. As tourism increases, the relations are growing stronger. The UK for example, reopened its Embassy in 1995. This is incredibly promising news for investors who desire favourable and stable settings for their property purchases.
3) The Dominican Republic’s Growing Economy Bolsters Investor Confidence
For a small country, the Dominican Republic’s economy is considered quite solid and growing. The annual GDP growth falls in around 9.3%. Industries that are pushing the economy forward include tourism, agriculture and metal mining. The country does have rather strong gold, silver and nickel mining industries as well. The overall economic stability of the nation inspires property investor confidence and makes the future potential for growth in real estate look very promising indeed.
4) The Strong and Growing Tourism Industry Makes Dominican Republic Property Investment Attractive
The travel and tourism industry in the Dominican Republic is strong. The country is expected to enjoy a total demand growth of about 3.4% per annum through to the year 2017. Already the USD 7,844.3 million industry drives the country’s economy. This makes investment in real estate in the Dominican Republic very attractive for those looking at catering to holidaymakers. The already high potential only stands to increase.
5) Dominican Republic Weather is Ideal Year-Round Making the Nation Attractive for Holidaymakers, Expats and Investors
The weather in the Dominican Republic is almost postcard perfect. The country enjoys a warm, tropical climate that does not vary much from season to season. The rains are the greatest between October and April and the peak of the tourism season runs from December to April. The near year-round climate perfection keeps holidaymakers coming in all the time and delights expats and retirees who choose to make the island their home. The weather is one of the biggest draws for holidaymakers, which is great for investors.
6) An Active Tourism Industry Means There is Plenty to do for Holidaymakers which is Always Good for Property Investors too
Holidaymakers, expats and retirees do not often find themselves lacking for things to do when the Dominican Republic is the destination of choice for a holiday. From its incredible 1,300 km of Caribbean coastline to its quaint villages and bustling social calendar, the country keeps visitors as busy or as unencumbered as they desire. From swimming and scuba diving to world-class golf, the Dominican Republic is considered by many to be a perfect tropical paradise. This is incredibly good news for investors in buy-to-let or even resale properties. The interest here is high and it is showing no signs of slowing down.
7) Easy Access Makes Dominican Republic Property Investment Quite Attractive
Flights to the Dominican Republic are accessible from most major European airports. Britons especially will find the round-trip fares are quite reasonable. This, coupled with the easy entry requirements for British citizens and relatively simple residency requirements makes the Dominican Republic very attractive. The country is also a favourite holiday destination for travellers from North America which is good news for buy-to-let investors.
8) Low Buy-In Prices Enable Investors to Own a Piece of Paradise for Very Little
Whilst there are some very high-end properties available on the island, buyers of property in the Dominican Republic will find a variety of more modest purchases are available for USD 100,000 or less. Overall, the buy-in prices within the Dominican Republic are very attractive and the potential for growth is quite high. The buyer’s market that presently is in place is not expected to continue for long. The present status makes this country ideal for buy-to-let, second home and buy-to-hold for resale strategies.
9) Generous Exchange Rate Appeals to British and European Investors in Real Estate in the Dominican Republic
The exchange rate of one British pound for about 71 Dominican pesos is very favourable for investors, holidaymakers and full-time expats. European and American money both tend to spend very well here. This, combined with the very attractive cost of living makes the country a favourite for those looking to retire to a Caribbean destination as well as holidaymakers and most especially investors. The financial aspects of the nation make the Dominican Republic attractive for buy-to-let and resale strategies.
10) The Welcoming People Make Dominican Republic Travel and Investments Very Appealing to Holidaymakers and Investors
The Dominican Republic is bustling with just over 8 million people in its 48,730 sq km expanse. Holidaymakers, full-time residents and seasonal visitors combine to make the atmosphere lively and interesting. The welcoming tone of citizens towards investors and holidaymakers is legendary. With an economy that is driven largely by tourism, the Dominicans are noted for bending over backwards to make visitors feel at home in the laidback, tropical paradise which bodes well for the long term potential of the Dominican Republic on all levels.
The Dominican Republic’s stable economy couples with its incredible holidaymaking potential to help make this country stand out in the real estate world. Investors from all over Europe and beyond are taking real notice of this Caribbean paradise.
