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Investing Opportunities
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Buying Real Estate in Dominican RepublicInvestment Potential
The “D.R.” is best known as the best bargain in the Caribbean. The North Coast includes the areas from Monte Cristi to Samana. This area represents some of the best potential for appreciation. In some of the touristy locations such as Sosua and Caberete, real estate values have escalated dramatically. In Sosua, beach-front property ranges from a low of $85 per square meter to as high as $300 per square meter. Ironically, the beach in this area is only average. As for developed property in the mountains, expect to pay around $35 to $55 per square meter. Factors responsible for the recent Dominican Republic fever are varied. They range from a series of Dominican baseball stars, a democratic government encouraging foreign dollars, a number of new direct flights from the United States and a lot of recent good press. These reasons coupled with bargain land prices and cheap labor have helped put the Dominican on the map like never before. In some of the beach location outside of the growth belt, we have been able to negotiate prices below $15/m2 for raw undeveloped land with some of the most spectacular ocean view that we’ve ever seen. According to realtors on the north coast, small houses or villas can be rented easily for around $1,000 per month and the occupancy is roughly 60 percent, but rising. When you consider that construction costs range from about $50 to $75 per square foot that’s less than half of what it costs to build a comparable house in the United States. News Articles about Dominican RepublicSmall Island Big Investment Potential - www.msnbc.msn.com The Dominican Republic Offers a New Place in the Sun - http://travel2.nytimes.com Comparing Property ValuesLand in the Dominican Republic is priced in dollars per square meter rather than a cost per acre or hectare. For comparison, one square meter equals 10.76 square feet and one acre is roughly 4,048 square meters. Infrastructure and AirportsThe Dominican Republic is building airports at a feverish rate and this is resulting in increased demand in real estate. The major resort cities of Santo Domingo, Santiago, Punta Cana and Puerto Plata have direct flights from the United States. New International airports are being funded by a progressive government that is actively encouraging tourism and foreign development of real estate throughout the island. In November of 2006, a new international airport is scheduled to be open on the northeast side of the island in the area know as Samana. Why should you buy Real Estate in the Dominican Republic?
How can you get started on your Your Own Piece of Paradise?View these investing opportunities: Read more about the real estate laws and taxes in dominican republic. |
