Four compelling reasons to enter the Dominican Republic condo market this year!
Making any decision around buying real estate takes time and research. We understand the decision because we have been there. We often receive a wide variety of questions and queries around real estate buying and selling in general. However, one of the most common questions that often come to us is the value of buying condos in the Dominican Republic. Condos are a popular real estate choice in many areas of the world for reasons such as convenience and security. However, there are additional reasons that make buying a condo in the Dominican Republic a wise and solid investment.
Pool at Ocean One in Cabarete
1. With a high rental market, a condo is a fabulous investment to be used as both a short or long term rental property.
The quality of condo renters in areas with high international visitors such as the Dominican Republic is reassuring. Short term renters are most often families and/or couples that are simply looking for a safe and relaxing vacation destination. Many of those same visitors enjoy returning to the community time and again. Long term renters (commonly considered to be three to six months +) are quite often working professionals who are location independent. Many of them are homeowners in their own countries and are simply looking for an extended stay in a vibrant and exciting location. For those investors who are still working but want to have some place to return to consistently, renting a condo provides great peace of mind and return on investment.
Roof Terrace of Penthouse
2. Beach Front property is desirable and a condo affords that opportunity with the peace of mind of security and safety.
Living on the beach is a romantic ideal, but for many homeowners, the reality is that they need to carefully consider safety – especially if they are not on site full time. Condo properties on the north coast have 24-hour security and many of them have numerous security personnel throughout the property, ensuring peace of mind for residents. In particular, the Sosua and Cabarete areas have great infrastructure. This includes everything from great road, excellent private health care, and a consistent law enforcement presence available 24-7. Condo ownership allows for worry free experience anywhere, especially in the Dominican Republic. Each condo development that Select Caribbean Properties works with has established, trustworthy security and property management professionals. They understand the interests and concerns of condo owners and have a long history of happy residents and owners.
Happy clients and Sabine from Select Caribbean Properties
3. The Dominican Republic has been repeatedly cited as a hot market for real estate in the Caribbean.
The reasons for this are numerous, but the most popular aspects that are being pointed out is that property is still at an affordable market value. With a strong tourism industry and strengthening the economy, the Dominican Republic is gaining popularity as the world is taking notice of the potential.
4. The Dominican government welcomes international investors.
In fact, they go beyond welcoming them. A foreign investment law acted in December 1995 allows unlimited foreign investment in nearly all sectors of the economy. In 1997 the government established the Office of Investment Promotion (OPI) which is proving to be an important contact for potential investors. Today, twenty years later, we are seeing the fruits of those decisions as Cabarete, Sosua, and the surrounding area is continuing to grow, prosper and enjoy the benefits of being a vibrant community filled with friendly and outgoing residents.
Do you want to be one of them? Contact us today to discover the potential of becoming a condo owner in the Dominican Republic.
Sabine A Mertes-Urbahn