An article titled “Second homes: A gust of new development in the Dominican Republic” recently appeared in USA Today.  The article was very positive, which is good news for investors and those considering investing in real estate in the Dominican Republic.

The article’s focus is on the north coast, and specifically  the Samana Peninsula, Cabarete and Puerto Plata.

Some of the highlights of the article include:

• The Dominican Republic has long been a favorite of US and international buyers, thanks to plentiful beaches and high-quality golf courses, high-end developments coupled with affordable prices, and a stable, democratic government.

• Now, thanks to infrastructure improvements and the simple desire to find the next hot place, second-home buyers are heading back north, spurred by the development of the Samana Peninsula.

• The newly emerging Samana Peninsula began as a second-home destination for Dominicans but is increasingly being “discovered” by overseas buyers.

• Samana Peninsula: Several towns on this 40-mile-long peninsula are seeing development, but for US buyers, the runaway favorite is Las Terrenas.  Already home to several boutique hotels, the longtime fishing village is emerging as a culinary hotspot, with European chefs taking advantage of the seafood.

To read the whole article, go to USA Today.

Article provided by Dominican Today

Santo Domingo.- Contrary to what occurred in other countries which compete with Dominican Republic, investments in tourism real estate projects continue growing as the result of the strong position of local banks and lower interests in the wake of the global financial crisis.

Dominican Tourism Realtors Association (ADETI) president Juan Bancalari affirms the scenario has led to the creation of new residential facilities in the different tourism regions. “The financial sector played a preponderant role in the reactivation of the tourism real estate sector.”

Though the hotelier didn’t specify figures the Tourism Ministry had previously announced that to October 30 the Tourism Promotion Council approved and classified 44 projects of US$7.9 billion, to build 54,725 non-hotel rooms and complementary offers.

Bancalari affirms that the tourist who invests in luxury real estate projects and tourism residences become part of the country due to the society created, adding that they come to Dominican Republic more than twice a year and bring relatives and friends with them, which may produce a new investor.

This article, written by Joachim Bamrud, appeared in Latin Business Chronicle on August 11, 2009.  

The Dominican Republic is starting to see signs of recovery, leading to more optimism among local and foreign investors…

Osvaldo Oller, a director of the Oller Group, sees real estate in tourism areas like Punta Cana, Puerto Plata and Samana picking up after months of low or no demand. ”There’s a noticeable improvement,” he says. The Oller Group is involved in real estate, construction and tourism. 

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Another article, also featured on Latin Business Chronicle, states that the Dominican Republic has largely been spared by the international economic crisis, seeing only a slight decline in tourism for the first half of the year.  

The article points out “The Dominican Republic last year received a total of 3.8 million international visitors, which was virtually the same as in 2007.  However, tourism receipts grew by 2.8 percent to $4.2 billion, according to the World Tourism Organization (WTO).

The Dominican Republic is also the largest tourism destination in the Caribbean and the fourth-largest in Latin America after giants like Mexico, Brazil and Argentina. When measuring arrivals compared to total population, the Dominican Republic ranks third in Latin America.”

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Just weeks ago, we updated the Boomerang Unlimited website. It had been almost three years since we launched the site, and there was so much new information to add. Since I am always asked for pictures of the Dominican Republic, we added a large photo gallery, consisting of 64 images (mostly pictures that we took while visiting the DR). We also added recent articles and some new resource links.

Thankfully, the content on the site is still valid. The Dominican Republic remains a top pick for foreign investment, the economy in the Dominican Republic is still strong, and tourism, though it has taken a hit with the struggling world economy, still reflects a small growth rate in 2008.

I remain confident with Dominican Republic real estate, and am thankful that we chose this market as part of our own investment strategy.