The Dominican Republic – A Great Place to Invest
Are you thinking about investing in Dominican Republic real estate in 2020?
We have put together this guide for investors considering making an investment in property in the Caribbean and wondering whether the Dominican Republic might be the best place to choose to buy property, from individual homes and condos through to a hotel or a large parcel of land for development.
Here we take a look at the top reasons for buying property in the Dominican Republic, high potential investment opportunities and the best places to invest, whether you are considering living in the Dominican Republic, purchasing a vacation home to generate extra income or looking for a no touch passive investment.
7 Reasons to Invest in Dominican Republic Real Estate
Best Places to Invest in the Dominican Republic
Investment Opportunities in the Dominican Republic
Find Out More About Investing in the Dominican Republic
From its large, diverse and growing economy to its warm and welcoming culture, there are no shortage of reasons for choosing to invest in the Dominican Republic. Here, we take a look at the top reasons to invest in the country.
A Diverse Destination – “The Dominican Republic Has it All”
Spanning almost 19,000 square miles right in the heart of the Caribbean, the Dominican Republic is the second-largest country in the region after Cuba. Thanks to its size, the country is incredibly diverse, significantly more so than many other destinations in the Caribbean. Most Caribbean islands have beautiful beaches merging into crystal clear waters where visitors can snorkel, dive or surf. Many have majestic mountains, rainforests, lakes and waterfalls to explore. Some have world-class golf courses running along the oceanfront. A handful of destinations have world-recognized historical and cultural sites to discover. Few have all of these. One destination that ticks all those boxes and more, is the Dominican Republic. As the tourism slogan goes, “The Dominican Republic has it all.”
The country is home to a wide variety of high-quality hotels, ranging from sprawling all-inclusive resorts to small and exclusive boutique guest houses. Restaurants include everything from family-run food stalls on the beach serving freshly-caught seafood to buzzy international restaurants. The retail scene is equally varied, from small shops selling locally made artwork to the world’s most recognized brand name boutiques in large, modern shopping malls, such as Louis Vuitton, Longchamp and Salvatore Ferragamo. With such variety on offer, one day you could be relaxing with barely another soul in sight on a sensational beach, while the next you could be exploring 16th Century Spanish-style churches and palaces in the ‘Zona Colonial’ – the historic neighborhood of the capital Santo Domingo which is a UNESCO World Heritage Site.
A Tourism Powerhouse Offering High Income-Generating Potential
This diversity has been the catalyst for the country’s remarkable success as a tourism powerhouse. With a coastline stretching roughly 1,000 miles fringed by idyllic sandy beaches lined by dense thickets of palm trees and surrounded by the warm waters of the Atlantic Ocean to the north and the Caribbean Sea to the south, the country has firmly established itself as the most visited destination in the Caribbean. In 2018 the Dominican Republic welcomed a whopping 6.5 million tourists to its shores. This represents 20 percent of the Caribbean’s total number of tourists, and that number is steadily rising too. 2018, for example, saw a 6.2% increase in visitor arrivals compared to the previous year.
The very large and growing number of overseas visitors generates huge demand for accommodation throughout the year. This, in turn, provides huge potential for income-generating opportunities for investors via the short-term and long-term rental markets.
The Caribbean’s Largest Economy
The tremendous rise in tourist arrivals has stimulated significant economic growth in recent years, which is another major factor drawing investors to the Dominican Republic property market. According to the World Bank, the Dominican Republic achieved record growth of 7% in 2018 following several years of strong economic performance during which growth averaged 5.3% per year from 1993 to 2018 and 6.3% per year from 2014 to 2018.
The level of economic growth achieved by the country has consistently remained at a level which is the envy of many other countries and, with various sectors including tourism set to continue to grow, the economic outlook is exceptionally rosy.
An Easily Accessible Destination
Sustained economic growth has allowed the Dominican Republic to invest in domestic and international transport links. With 8 international airports, 5 cruise destinations, multiple marinas and domestic airstrips for private planes, the Dominican Republic is one of the most accessible destinations in the Caribbean for both tourists and overseas property buyers. There are direct flights from almost 30 countries around the world.
A Strong Pipeline of Opportunities Offering Excellent Value for Money
Economic growth and the surge in tourism has also stimulated construction which provides new opportunities for investors. The Dominican Republic has the strongest hotel pipeline in the Caribbean. According to hotel analytics firm STR, there are almost 4,500 hotel rooms in construction in the country. This is roughly double the number than in Cuba, the country with the second-largest hotel pipeline in the Caribbean. Many of these new hotels and resorts include real estate investment opportunities for sale to buyers looking to own their own slice of this tropical paradise, from villas in residential enclaves of master-planned communities to hotel suites and condominiums.
While property prices have been steadily rising, they remain very attractive for the time being, offering excellent value for money for investors as well as high potential for capital appreciation over the medium term.
Summary: A Top Tier Caribbean Destination
So, in summary, with an incredible variety of sites and attractions, a flourishing tourism sector, a robust economy with a positive outlook, and a boom in construction of new hotels, resorts and property developments combine to make the Dominican Republic one of the most attractive real estate investment destinations in the Caribbean.
To find out more about where to invest in the country, explore the best places to buy property in the Dominican Republic.
Explore investment opportunities in the Dominican Republic:
- Search: Dominican Republic real estate
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- Search: Homes for sale in the Dominican Republic
- Search: Condos for sale in the Dominican Republic
- Search: Land for sale in the Dominican Republic
- Search: Hotels for sale in the Dominican Republic
7th Heaven Properties is here to help you. We have the insight and advice you need to begin investing in Dominican Republic real estate.
To find out more, contact 7th Heaven Properties, the Luxury Caribbean Property Specialist.
We look forward to working with you and helping you find your perfect property in the Dominican Republic.