Chinese Living And Investing In The Dominican Republic
Eastern appeal | The Good Property Guide
Eastern appeal
Why the Dominican Republic is looking to China and how this could boost the island’s property market.
The Dominican Republic is enjoying a tourism boom as its government pursues an aggressive marketing campaign to entice Chinese travelers. A prime time to invest in the island’s real estate, says Henry Courtney.
Last year 4.6 million people visited the Dominican Republic, which was a massive 6.6% increase on the previous year. But that’s not enough for the island’s president who has set an ambitious goal to entice a whopping 10 million visitors to the Dominican Republic by 2022.
Chinese Living And Investing In The Dominican Republic
Key to meeting these targets will be attracting travelers from China. There are approximately 80 million Chinese who travel the world today and the Dominican Republic’s Tourism department has set out on an aggressive marketing campaign to make the idyllic Caribbean paradise into one of the Far East’s favorite destination.
Leading by example, President Danilo Medina personally welcomed two high profile Chinese families who were holidaying on the island to the National Palace recently as well instructing the production of an Asian orientated infomercial and fashion magazine spread.
“The Dominican Republic is a prime example of how, even in the midst of an economic downturn, it is possible to drive tourist growth,” says Robert Gavin, director of Property Horizons.
“Promoting every diverse attraction the island has to offer, the Dominican Republic has worked hard to outpace not only global tourism growth (4%) but the Caribbean too (4.8%) recording the highest regional growth at 6.6% for the second year consecutively. And that’s not an easy feat.”
These figures combined with the island’s affable climate, sun kissed beaches, lush mountainous interior and affordable real estate means the Dominican Republic certainly has a lot of offer foreign buyers.
And tourism is just being geared to the Chinese market. The Dominica Republic has long been an attractive Spring Break destination for North Americans and a popular second home location for Europeans, which has helped ensure the island’s rental market remained buoyant.
Chinese Living And Investing In The Dominican Republic The Dominican Republic a glance
The Dominican Republic is the most visited island in the Caribbean and its popularity is matched by its size; after Cuba it is the largest island in the region. This makes home hunting a tiresome business, although to give you a starting point we have pulled together our four favorite spots…
Punta Cana
Located in La Altagracia, the eastern most province in the Dominican Republic, Punta Cana is characterised by white powdery beaches, luxury resorts and the gorgeous colonial city of Santo Domingo. It’s probably our favourite spot on the island and you can get on the property market here for as little as $100,000, which would buy you a modest one bedroom apartment sans sea views. At the other end of the market you could get a cavernous beachfront apartment for just shy of $1 million.
Chinese Living And Investing In The Dominican Republic
Samana
This is the unspoiled Jewell in the crown of the Dominican Republic with mile after of mile of beautiful unspoiled beaches and lush tropical vegetation covering stunning mountains.
Las Terrenas is the star of the show with an large international expat community who have settled and live in the town and its surrounding districts.
Places such as Las Galeras, Playa Bonita, El Limon and Coson are just a few of the special places that must be visited.
Samana International Airport is only 20 minutes drive and has flights from Europe, USA and Canada
Property prices range from US$75,000 to many millions of dollars with rental income returns and occupancy rates some of the highest on the Island.
A fantastic place to live, holiday or retire contact Beachtown Property Real Estate for the latest deals
Sosua
A strong tourism industry has seen the northern resorts of Sosua and Cabarete develop from quaint seaside villages to international resorts. If you’re looking for a reliable rental income, this is the place to buy. There are some charming villas available (starting at $100,000) or simple studio apartments from around $40,000. The area is also ideal for those thinking of making it their home; attractions abound with the Perla Marina, El Choco National Park and Septentrional mountain range nearby.
Chinese Living And Investing In The Dominican Republic
Emerald Bay
One resort development receiving plenty of interest is the five star Eco Resort & Spa. The resort lies just 45 minutes from Gregorio Luperon International Airport with daily direct flights from the UK, Europe, Canada and the US.
The development has full town hall planning for 320 luxury properties (phase one), ranging from luxury apartment suites to five bedroom bespoke detached villas. Solar power generation, recycling and fresh spring-fed water supply are some of the features that will contribute to the resorts Eco credentials.
Amenities will include restaurants, champagne bar, spa kitchen, 24-hour dining, spa, swimming pools, gym, tennis centre, horse riding, water sport centre with diving, wind surfing, sailing, entertainment centre and even a helipad. Properties of this caliber are available from as little as $199,950 (USD).
Chinese Living And Investing In The Dominican Republic
Category : Blog &Dominican Republic
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