Posted by: Anni Orekh | October 9, 2011

Popular destinations in Dominican Republic for Real Estate

Dominican Republic is becoming a more popular vacation destination or country to retire, making Dominican Republic real estate investments very attractive to tourists, retirees and investors. DR offers an excellent incentive program for retirees, great climate, lower cost of living, lower crime rate and tax advantages. For foreign investors, DR provides several important incentives which include a pro US dollar based economy, Free Trade Zone, and international banking, among others.

Additionally,  the Dominican Republic ’s real estate market has proven to be solid through the years, which is the reason why several international real estate firms such as  Remax, Century 21 and Coldwell Banker have established franchises in Santo Domingo City. Major banks such as Scotiabank , Lloyds, and Citibank have established franchises from long time ago as well in order to provide total financial services.

Furthermore, DR has a global position, direct flights to major cities and technological resources and financial infrastructure, which are a great advantage for many investors.

For instance Santo Domingo  City has become a more cosmopolitan modern metropolis – there are many rise buildings overlooking the ocean and the port of  Santo Domingo. Exclusive residential areas like Gazcue, Piantini, Serrallez, Naco and  Arroyo Hondo offer a good range of apartments and condominiums for sale. Suburban residential areas in the Jardines,  Altos de Ahorro Hondo,  and others  offer large and attractive single-family homes and condominiums.

Santo Domingo
Santo Domingo, known officially as Santo Domingo de Guzmán, is the capital and largest city in the Dominican Republic. Its metropolitan population was 2,084,852 in 2003, and estimated at 3,294,385 in 2010.[3] The city is located on the Caribbean Sea, at the mouth of the Ozama River.
The city is the center of economic activity in the Dominican Republic. Many national and international firms have their headquarters or regional offices in Santo Domingo. The city attracts many international firms and franchises due to its geographic location, stability, and vibrant economy.

Santo Domingo is the center of the national government of the Dominican Republic.

Famous landmarks in Santo Domingo include the Puerta del Conde, the Puerta de la Misericordia, the Catedral Santa María La Menor (Catedral Primada de América), the National Pantheon and the Alcázar de Colón, all of which are located within the Zona Colonial district of the city. This part was declared a UNESCO World Heritage Site in 1990.
Santo Domingo is the location of numerous museums dedicated to the history of the Dominican Republic. Most of them are within the Zona Colonial District.

Santiago

The city of Santiago, as most of the Cibao region, is largely dependent on the fertile lands of the region.[citation needed]This makes Santiago de los Caballeros an important region for farming and livestock.

Samana

The evergreen peninsula of Samaná is located in the northeast of the Dominican Republic and with its tropical hills, sheltered coves, pristine natural beauty and long deserted beaches, is one of the most idyllic spots on the island. Long uninhabited, the peninsula was only populated in the second half of the 18th century when the settlement of Santa Barbara de Samaná was founded by Spanish settlers.

Samaná has become  a colorful and vibrant town with 52,000 inhabitants, where residents and tourists alike enjoy a relaxed town life of fine dining and relaxing. The daily market in Samaná, with all its colors and scents, is fascinating and worth a visit. To escape the crowds, you can use the pedestrian bridges to the uninhabited islands of Cayo Cayo Linares and Vigia.

The beaches of Cayo Levantado and Playa Rincon (Las Galeras) are among the finest in the world. The beautiful white beach with palm trees swaying along calm blue seas invites you to come for a perfect stay. You can enjoy delicious fresh-caught lobster and fish on the beach, prepared in a typical Dominican way, fresh off the grill. Within walking distance is Punta Bonita, another beautiful white sandy beach where you can walk westward for hours without meeting anyone. To the east is El Portillo with its even paler snow white beaches.

Samaná experiences year-round sunshine and offers a pleasant holiday getaway. The best time to go to the Samaná peninsula is in the winter when the temperatures are more pleasant. Samaná is also called the green peninsula, helped by the fact that the rainfall is higher than in other resort areas with an average of 160 mm per month.

Puerto Plata — the oldest city on the Pacific Coast of the Americas — has become a desirable place for real estate investment, encouraged by the Panamanian government Casco Viejo investment incentives for the restoration of the historic Casco Viejo district.

Peravia (Bani):   The city of  Bani is the capital of the Peravia province; its residents also know it as the home of poets. It’s only an hour’s drive west of Santo Domingo. The province’s population is relatively small with 169,865 people, and only 61,864 in the Bani metro area. This is a tightly knit community with families and neighborhoods dating back several centuries.

La Romana:   is the third-largest city in the Dominican Republic with a population estimated in 2005 at 250,000. The city is capital of the southeastern province of La Romana, opposite Catalina Island. The name Romana comes from a balance that was used to weigh merchandise for export. Santa Rosa de Lima is the patron saint of La Romana.

La Romana has become one of the most popular tourist destinations in the country because of the beautiful beaches and the tourism infrastructure that has been put in place.

Casa de Campo : Resort complex is the flagship of the La Romana All Inclusive Resorts area.

Altos de Chavón : it is a replica of a 16th century Mediterranean village located just minutes from La Romana.

Altos de Chavón is one of those must-visit locations on a trip to La Romana All Inclusive Resorts.

Casa de Campo International Tourist Port (Muelle Turístico Internacional Casa de Campo) : Over the last century, The Port of La Romana (located on the West Bank of La Romana River or Rio Dulce) has been utilized primarily for the docking of commercial ships, primarily for the transport of sugar and molasses.

La Romana  is not a typical Dominican town; instead, it is a company town, with the Central Romana Corporation owning the majority of the town. It is a town with nearly 100% employment, mostly in the tourism industry or with The Central Romana Corporation, the Duty Free Zone (Zona Franca Romana), or one of the service businesses there.

Higuey & Punta Cana:

 The capital of La Altagracia (eastern) province  holds  the name of Salvaleón de Higuey, it has many features that are very interesting for any tourist and investors in a small town.

Higuey is a small town that features its Basilica, which is the large modern cathedral that honors the Virgen de la Altagracia,  catholic patron saint of the Dominicans.

The Basilica in Higuey (mainly called Basilica Nuestra Señora de  La Altagracia) is one of the most amazing architectures in the whole area and is also known as the altar of La Virgen de La Altagracia. The Basilica was constructed around the 1971 and it serves to honor the ancient church that was located there in 1572.

Another interesting monument in the city of Higuey is the church of San Dionisio on which was built in 1572. This astounding piece of architecture is a remnant of the times when the Spanish came for the first time to the island of La Española and met the natives. 

Punta Cana

One of the most popular places in Punta Cana- Higuey is also the Iberia Supermarket which is one of the biggest stores in the area. The place sells about any item you see in any store like food, clothes, souvenirs, electronic equipment and others.

Punta Cana is part of the newly created Punta Cana-Bávaro-Veron-Macao municipal district in La Altagracia, the easternmost province of the Dominican Republic. The area is best known for its beaches and balnearios, which face both the Caribbean and Atlantic, and it has been a popular tourist destination since the 1970s. The Punta Cana area has an estimated population of 100,000 with a growth rate of 6%. To the north, it borders the village and beach of Cabeza de Toro, and then the Bávaro and El Cortecito beaches. The nearest city, the 500-year-old capital of the Province Higüey, is 45 kilometres (28 mi) away, and it takes about an hour to drive there. Europeans, particularly Spanish hotel chains, own all but two of the 50+ megaresorts of the Punta Cana tourism destination.

 

Real Estate Values in DR and primarily in these Atlantic Coast Beach areas has been appreciating very steadily, and as interest and growth increases so to do the real estate values.

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