Ninety percent of millionaires will tell you that real estate is one of the smartest and safest ways to amass wealth.In its race to be the hottest real estate in the world, Dominican Republic never shied away from an opportunity to flaunt its booming economy, promising investment climate and strong fiscal policy.
How healthy is the Dominican Republic Economy?
GDP and growth rate, these are the two factors that determine whether or not, a country is the best place to start an investment. With a 5.52% average in the GDP annual growth rate from 1992 to 2014 and a whopping 8.7% GDP in the second quarter of 2016 over the same period in 2015; plus below 1% inflation rate last year, Dominican Republic indeed is one of the fastest growing economies of the world!
It is true that the past 20 years has been a test of the country’s resilience against financial crisis. But, new developments, influx of tourists and growth in the manufacturing industry have paved the way for a stronger economy as job creation and private consumption increased.
Supply and demand
With an employment rate of 50.4%, tourism growth double than the world’s rate, and roughly a million shortage in residential housing; the Dominican Republic real estate is definitely an excellent investment vehicle for local and international investors. Urban migration, rapid population growth and hurricanes also contribute to an increasingly severe housing shortage both for high end and low-end consumers.
The dynamic growth of the tourism industry in the Dominican Republic increased the demand for residential and luxury properties, eventually pushing the prices up. Dominican Republic is the undisputed leader in the tourism industry in the Region with its 5.8% tourism growth, which is higher than the Caribbean’s 3.7 percent. In fact, around 6 million tourists are expected to visit this country this 2016 and the government spares no effort to meet its targeted 7% tourism growth. International tourism demands for new developments, including luxury real estate and retail establishments. Consequently, more jobs are created, attracting more visitors to the country. The Dominican Republic is also one of the top choices of foreign home buyers consisting mostly of retirees and full-time expats because of the weather, low cost of living, friendly people and unlimited investment opportunities in various industries.
Latest Real Property Developments in Sto. Domingo
Investing in the city center definitely makes sense-Sto. Domingo is the financial capital of Dominican Republic. It is the major center for politics, commerce, culture and different types of industries. The most important industries also maintain their offices in Sto. Domingo-the largest metropolitan city in the country.
Recently, Real Caribe-the Antilles-based division of Real Capital Ventures started a multi-million dollar residential investment project -- the Central Suites Tower, in the luxury residential landscape of Sto. Domingo. This luxury high-rise property is located in a prime investment spot of the city and consists of full-service residential units expected to generate robust cash flow from high-end tenants. Both the local and international investors eye this project as a low-risk opportunity to gain passive income and maximum ROI because of the foreseen consistent and high yielding returns from prime properties with appreciating value.
Watch this investor’s presentation to learn more about this splendid investment opportunity