Archive for the ‘Dominican Republic’ Category
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting! According to the latest property news coming out of the Dominican Republic, escaping to the warmth and beauty of the Caribbean to enjoy your assets and your freedom relatively undisturbed is becoming an increasingly affordable option. If the latest round of restrictive regulation and ever increasing taxes has left you daydreaming of escape, you just may be surprised at how comparatively little of an investment it takes to make an escape to the Dominican Republic a reality. With the better part of its annual income coming directly from tourism, there’s lots of opportunity for those choosing to invest in commercial property. Indeed, some of the biggest names in property investment, such as Donald Trump, are making serious moves in the Dominican Republic. According to Nuwireinvestor.com , Trump is investing over a billion dollars into hotels and residential living spaces in the Dominican Republic. Real estate and relocation businesses are flocking to the region, reflecting a growing interest, as well as growing opportunities, in this part of the Caribbean. When big investment money arrives, that means that there will be a variety of other improvements, such as to infrastructure, that will ease the way for those who have less to invest, helping them to succeed also. In an effort to make the island nation more attractive to investors large and small, the president of the Dominican Republic, Leonel Fernandez, recently has initiated several projects , including a new dam, a new aqueduct system, improvements to an important airport, and saw the completion of new road construction. As the nation continues on its road to modernization, it becomes easier for the smaller scale businesses to be successful. When it comes to residential property, the Dominican Republic has always offered a great deal for the money invested. In terms of affordable housing and reasonable cost of living, the Dominican Republic is really beginning to make a name for itself. This is attracting people from all over the globe , from retirees who want to make the most of fixed incomes to those who are just ready to leave the rat race behind, and live a comfortable lifestyle with the time to actually enjoy it, as a lower cost of living means less time devoted to the pursuit of money.
Fitch Ratings of New York offers a bit of insight into the property situation in the Dominican Republic right now. Their data indicates that the recent sub-prime meltdown that is wrecking havoc on the real estate markets and credit industries in many regions is having little effect on Latin American banks. In fact, according to a recent report published by Caribbean Net News, “MortgageIT, Inc., a subsidiary of Deutsche Bank, has announced that it has agreed to make available $500 million in residential mortgage financing to qualified purchasers of properties within Cap Cana, a luxury real estate and tourism destination located on the eastern shore of the Dominican Republic.” “This is a landmark transaction which will allow consumers to access long-term mortgage financing in the Dominican Republic for the first time,” said Doug Naidus, Managing Director and Americas Head of Residential Mortgage Origination at Deutsche Bank, as quoted in the story. “We are extremely enthusiastic about bringing this kind of liquidity to the Latin American and Caribbean market.” Opportunities abound in the Dominican Republic for those interested in commercial or residential properties. And, these opportunities are not just for the wealthy. The latest property news indicates that with big investors pouring money into the Dominican Republic and the recent targeted governmental efforts, there is rapid improvement and stabilization of the nation’s economy and infrastructure, making living and doing business in the country better and more affordable for the smaller investor, as well as for the giants. |