Foreign real-estate investment in the Dominican Republic, particularly from the United States is soaring. Factors for this Dominican fever are varied. Some of the reasons range from there being a number of very popular Dominican baseball stars, the country’s democratic government which encourages foreign dollars, new and upgraded airports with better service from the U.S. and an abundance of positive international press. Hollywood’s elite, U.S. politicians as well as Wall Street investors are just a few of the groups that are taking advantage of this paradise found.
Bargain land prices and inexpensive labor put the opportunity to invest in a piece of tropical paradise within the reach of many. Particularly on the North Coast which is still an unspoiled pristine location that is not over-developed or over-invested at the present. Couple this with an excellent historical track record regarding the avoidance of major tropical storm/ hurricane damage and the North Coast becomes an extremely attractive option. The Sosua/ Cabarete area in particular is very intriguing with an existing cultural infrastructure that in many ways caters to the tastes and desires of the foreigners that invest, vacation or live there year round.
There are no restrictions on foreign purchase and ownership of property in the Dominican Republic. Property may be acquired as an individual, or in a corporate structure as a Dominican Republic company which is highly recommended. As always, it is important to clarify one’s desires and budget prior to making a real-estate investment. An additional challenge there is the lack of governmental supervision over approved construction plans. Since construction quality varies greatly from project to project, it is very important to make a well informed comparison prior to making your Dominican Republic condo investment. That being said, if one does their homework and researches adequately, there are projects that provide excellent quality design and construction resulting in an unbelievable real-estate investment value.
One such project is the luxury oceanfront condominium development under construction in Sosua known as Infiniti Blu. Conveniently located, just 10-15 minutes from the Puerto Plata airport, and a short walk to all of the conveniences of town, lies this lush 5 acre ocean front property. The state of the art infrastructure planned, using environmentally friendly solar energy and low resident density will afford the owners an exclusive environment in which to enjoy their investment. Quality of design and construction, with attention to every detail is second to none. Projects of this caliber even include usual and customary closing costs, title guarantee, title insurance and secure escrow services provided by Stewart Title, and an owner's guarantee package.
Research and comparison prior to making a final decision on a condominium investment is as important in the Dominican Republic as anywhere. However, if you desire to have a Caribbean condo of your dreams, seriously take a look at the gorgeous North Coast of the Dominican Republic and discover what Columbus discovered a long time ago. |