Over the course of the past twenty years, an ever growing number of people from around the world have been traveling to the Dominican Republic on holiday. As a result, there has been an increase in demand for different types of real estate that can be used by people who are traveling into the country for holiday purposes.
At the present time, when it comes to the real estate market in the Dominican Republic, the biggest area of growth involves real estate associated with the travel and tourism industry. This includes resort properties, apartments and other residences that are utilized by people who are traveling into the Dominican Republic for extended stays. Foreign nationals have been very active in this segment of the Dominican Republic property marketplace.
For generations, there have been no significant restrictions on foreign nationals owning property in the Dominican Republic. In point of fact, the countries has a long history of foreign nationals being involved in that nation’s real estate market.
As referenced previously, when it comes to investment in the property market in the Dominican Republic, there has been a great deal of activity in that segment of the marketplace that is involved with real estate that effects or impacts travels and tourisms. In this regard, foreign nationals have been active in this market — indeed, foreign nationals have been active in this segment of the real estate market in the Dominican Republic for years.
A great deal of investment is being made in the development of resort communities in the Dominican Republic. With tourism being the number one industry in the Dominican Republic, investment in the tourism trade through the real estate market is proving to be profitable for many people, including an ever growing number of foreign nationals.
Foreign nationals can be seen putting their money into hotel resort complexes, apartment projects that are being created to serve as second homes or vacation properties for people interested in spending an extended period of time in the Dominican Republic during the course of the year and into more upscale and expensive single family homes, including high cost villas and estates that are being used with regularity by well healed travelers into the Dominican Republic.
Most real estate analysts are predicting that this trend towards foreign investment in real estate associated with the tourism and travel industry will continue unabated well into the next decade.
Many foreign nationals have taken to purchasing single family dwellings for three primary purposes. First, there are people who are snatching up these properties in the Dominican Republic to be used for holiday or vacation purposes, as a second home.
With the surprisingly low cost of living in the Dominican Republic, many people are finding this lovely island nation and ideal place to travel for holidays and vacations. Overall, it is not particularly expensive (relatively speaking) to maintain a second home in the Dominican Republic.
The second reason why many foreign nationals are buying single family homes in the Dominican Republic is for investment. These foreign nationals are buying single family homes in the Dominican Republic that they are either remodeling and reselling for a nice profit or that they are leasing or renting to people who are visiting the Dominican Republic for extended holidays or for an extended business trip.
Finally, many people from different countries around the world are electing to retire in the Dominican Republic. In this regard, many of these foreign nationals are buying single family homes for their retirement in the Dominican Republic.
Residential Real Estate – Apartments
Apartments remain popular real estate choices for foreign nationals. Apartment sales in the Dominican Republic continue to increase in number as the 21st century moves onward.
Some people are buying apartments in the Dominican Republic for investment purposes. These foreign nationals are buying apartments that they then are renting to people who will be in the Dominican Republic for an extended period of time on holiday or on business.
Other foreign nationals are purchasing apartments in the Dominican Republic for their own use. Many people are finding the Dominican Republic to be an ideal site for holiday or vacation travel. As a consequence, these people are finding apartments in the Dominican Republic to be ideal housing choices for holiday or vacation stays and travel.
There are a wide range of different types of apartments in the major urban and commercial regions in the Dominican Republic. For example, there are some very high end properties that are expensive propositions. On the other hand, there are very reasonably priced properties that allow people of modest income levels to invest in an apartment in the Dominican Republic, to have a second or vacation or holiday home.
Holiday Property in Holiday Resorts
As referenced previously, many foreign nationals are buying different types of real estate in the Dominican Republic for vacation. Indeed, most real estate transactions involving foreign nationals in the Dominican Republic at this time generally are centered in the vacation trade.
Most real estate analysts believe that the trend towards purchasing vacation and holiday related properties in the Dominican Republic will continue unabated through the next two decades. Presently, these analysts believe that the present time is a sound point in time to invest in real estate in the Dominican Republic in that property values are rising.
These experts believe that those foreign nationals and other real estate purchasers in the Dominican Republic will be able to realize nice returns on their real estate investments by buying property at this point in time.
South Americans have been a significant portion of the overall vacation property market. However, since the turn of the century, a growing number of people from North America — including both The Dominican Republic and the United States — are finding the Dominican Republic to be a wonderful and ideal travel and vacation destination.
Likewise, the Dominican Republic has seen an up tick in the number of people from the European Union who have invested in vacation or holiday properties of different types within the Dominican Republic. These trends are expected to continue well into the next decade according to analysts who have spent time considering the Dominican Republic real estate market and tourist trends.