There are no restrictions on foreign ownership of real estate in the Dominican Republic, and foreign investors have been buying property there for many years.
The recent government initiatives to improve the infrastructure are attracting not only the multinationals, but the private investor also. In fact, Foreign real-estate investment in the Dominican Republic, particularly from the United States is soaring.
The reasons for the interst in the Dominican Republic vary from the country’s democratic government encouraging foreign investment to new and upgraded airports with better service from the U.S. , South America and Europe and an abundance of positive international press. Hollywood’s elite, U.S. politicians as well as Wall Street investors are just a few of the groups that are taking advantage of the current situation.
Dominican Republic Real Estate
The real esatate market in the Dominican Republic is relatively undeveloped and the recently introduced government tax for title insurance purposes will almost certainly increase the level of confidence in the market. With the USA market expected to coast for the near future, American investors are already making solid commitments in the Dominican Republic. Increases in the cost of property and popularity are difficult to predict exactly, but clearly, this market is only now beginning it’s cycle. Certainly, compared to the rest of the Caribbean, the Dominican Republic looks set to out-perform them by a significant margin. Many resorts are claiming occupancy in excess of 85%. Its only a matter of time before prices increase to parity with other the Caribbean isles. |
