There is not a better time than now to check out the hottest market in the Caribbean.
The Dominican Republic and Las Terrenas in the Samana Peninusla are seeing rapid growth and great new developments. Check out these articles from DR 1 :
Tourism real estate market looks promising.
The tourism real estate market has shown promising signs considering estimates of USD 1.5 billion in investments for this year and an expected investment of USD 3 billion per year within three years, reports Juan Bancalari, president of the Dominican Tourism Real Estate Association (ADETI). Bancalari says that an abundance of real estate developments is positioning the country in a favorable position to compete with Mexico and Central America. Quoted in Hoy, he continued
by saying that traditionally, tourism was just about hotels, but this s no longer the case. He says that the sector has experienced a boom in the last five years. ADETI’s members include Cap Cana, the Roco Ki group, the Metro group, Guavabery, Las Terrenas Beach Resort, the Playa Grande group, Casa de Campo and Rincon Bay.
Travel up 6%
The World Tourism Organization reports that international tourist arrivals worldwide rose by over 6% from January hrough April 2007, representing an additional 15 million arrivals compared to the same four-month period in 2006. This growth is attributed to continuing world prosperity, emerging markets and developing economies in general, especially in Asia. The WTO says that the expansion of low-cost airline services around the world, including the emergence of long-haul low-cost airlines, has been a major factor in stimulating air transport, making it increasingly accessible to a constantly rising share of the world’s population. Interestingly, the Caribbean does not share the higher than expected growth. The WTO says that competing for Caribbean vacationers is the strong offer of cruise lines that have significantly expanded their cruise programs in Europe and the Mediterranean.With thousands of US travelers securing a passport for the first time, the Caribbean could lose out to people who will now have access to travel to Europe. Likewise, in 2006 Asia and the Pacific achieved a volume of international tourism receipts similar to that of the Americas for the first time. The WTO ranks the DR as the 44th in international tourist arrivals by country for 2006 with four million arrivals, only surpassed in the Latin America and the Caribbean by Mexico with 21.4 million arrivals (8th in the world) and Brazil with five million arrivals (37th in the world).
Samana highway details
The Ministry of Public Works announces that 98% of the 106-km expressway linking Santo Domingo and Samana has been opened, with 10% of the thoroughfare already asphalted, the 13 kilometers to the Carretera Mella crossing. The highway is expected to be open to the public as early as January 2008. At the present time, most resources are directed at the construction of 12 bridges. Engineer Armin Ricardo Garcia Acuna, president of Autopistas del Nordeste, the concessionaire, said that the six first bridges will be ready by July, another four by September and October and the rest in December. The funds for the construction will be recovered at three toll booths located at the rossing of Las Americas and Mella Highway, Villa Mella-Monte Plata and Bayaguana-Cruce de Molinillos. Minister of Public Works said that the highway is costing US$151 million and shorten the distance from Santo Domingo to Samana to about the same time an hour and a half time, making that destination’s beach areas as close as getting to La Romana, for instance. At present, it takes about four hours to travel to beach destinations in Samana from Santo Domingo. From the Las Americas Highway to Rincon de Molinillos is 106 kilometers. The distance to Samana is 170 kms by this route.
We hope to see you in this area soon. Let us know when you will be traveling here, and we will help you with all of your hotel reservations. Check out the hottest new hotel in town, fully equipped with First Class Italian Restaurant and Spa with the latest treatments: www.aliseihotel.com
We also have some great listings here!
Check out these Luxury Homes with breath-taking ocean views: http://www.drparadise.com/ob/index.html
Check out our latest listings at: www.drparadise.com and www.drcaribbean.com
For all legal advice we recommend Guzman Ariza Law Firm. Check out website at: www.drlawyer.com.
Founded in 1927, Guzmán Ariza is the first and only national law firm in the Dominican Republic, with offices covering the city of Santo Domingo, the northern part of the island (Sosúa, Las Terrenas, Samaná, San Francisco de Macorís) and the southeast (Bávaro-Punta Cana).
Properties are continuing to appreciate every year. Condos are appreciating around 20-30% every year, while raw land goes up annually 40%. Get in while the market is still hot.
Contact DR Paradise Real Estate for more information: www.drparadise.com. Looking forward to hearing from you!