Should I Invest in the Dominican Republic?
Tourism is one of the pillars of the Dominican Republic’s economy, with an estimated 25% of the nation’s GDP.
Key Points Why to Invest in Dominican Republic Real Estate:
- Geographical location in both the North and South American hemispheres is a hub of international investment
- Location is a great advantage for quick and easy access to the Western markets with well-established industrial free-trade zone
- Advanced telecommunications infrastructure and a skilled, qualified labor force
- Offers a modern transportation infrastructure that is unique for the region.
- 8 international airports with daily flights (4 hours from Toronto, 3 hours from New York)
- Extensive road network
- Largest worldwide producer of premium cigars, and leading exporter of high-quality organic cacao and banana
- Ranked by the WTO as the Caribbean leader in both tourism and large infrastructure facilities
- Several beaches among the best of the world
- Developed a robust economy offering stability for international investment
- The country boasts a truly investment friendly regulatory environment
- International Investment Law that grants equal rights to foreigners, with tax exemptions to retirees who choose to establish residency in the D.R.
- Tourism Laws provides fiscal exemptions to tourism new projects and allows refurbishing and re-equipment of five-year-old projects, ensuring competitiveness and return on investments.
- Dominican Republic leads in Caribbean tourism market.
Did you know that the Dominican Republic had approximately 5.1 million people visit making the DR the number one tourist destination in the Caribbean? For this reason, rental returns (on average 70% occupancy rate per annum) are very lucrative and why developers especially in the Punta Cana Investing in Dominican Republic Real Estate – Timing is Right!
DID YOU KNOW Investing in Dominican Republic real-estate for a second vacation home, retirement or solely investment purposes, the timing is right. Prices are increasing but still affordable. With a continuous growing tourism market and a stable government which strongly encourages foreign investment help to make the Dominican Republic very appealing. Lastly, we cannot forget the warm tropical weather and the world class beaches. I guess the Dominican Republic really does have it all! Yes, to invest.
DID YOU KNOW THAT Outsourcing core functions to a reputable property management company is an easy and affordable way for an investor to ensure that their property remains in great condition and maintains its value? In many cases, investors who attempt to do everything on their own find themselves in situations that they are not prepared for.
“There is a real financial risk for an investor who decides they can do everything on their own,
Landlords do collect a security deposit but if a tenant causes damage that goes beyond that cost, and it cannot be proven to be their fault, the investor could end up in serious financial trouble.” Or even in a heated or physical altercation
All these potentially risky scenarios can be avoided by hiring a professional property management company. From screening for high quality tenants and managing marketing and listings to handling any legal situations that arise, property management companies give investors the sort of peace of mind that is hard to find.
“Investment properties typically play an important part in an individual’s retirement, so there is a lot on the line, Noval solely partners with experienced and professional property management companies who know all of the ins and outs of renting properties and the potential risks. We handle all tenant placements on behalf of the property owner and manage all the listing services throughout various marketing websites. We have that experience of screening people to make sure the investor has quality tenants in their property.”