PR Log (Press Release) –
Oct 25, 2008 – Dominican Republic Property is a very sound Investment in the present credit crunch times for both tourism and economic reasons according to Simon Jones market analyst at http://www.internationalhotproperty.co.uk/
. “President Leonel Fernandez Reyna, presented a decree (2543-45) in 1998 eliminating restrictions to real estate ownership by foreigners, thus recognizing that the former law was a barrier for foreign investment. Prior to this new decree, a real estate purchase by a foreigner was a lengthy procedure and had to be processed by local attorneys and required the special authorization. Under Decree 2543-45, real estate investors will enjoy the same rights as Dominicans. Property in the Dominican Republic is very reasonably priced and proving popular with buyers for various reasons. Some look to purchase a piece of paradise for their retirement years and with Dominican Republic property prices more favorable than almost all other similar destinations it is an obvious first choice. With prices so competitive and the perpetual increase in the areas popularity with tourists, investors see property in the Dominican Republic as a safe investment with prices only set to rise and rental potential drastically increasing in line with its popularity” explained Simon.
Some $30 million for the reconstruction of highways has been granted by the OPEC Fund for International Development, a number of new Aerocaribbean flights and the construction of a ferry terminal costing $10 million at the Sans Souci tourist port, will also significantly add to the island's attractiveness to investors. These plans are a major boost for a country where tourism accounts for 24% of GDP and is fuelling economic growth. The contribution of tourism to employment is now expected to rise from 555,000 jobs in 2008 to 743,000 jobs by 2018. By 2012, it is forecasted that the Dominican Republic will receive five million annual visitors, a one million increase over expected 2008 visitor totals. “Obviously these factors along with the news that The World Bank Doing Business study of 181 economies around the globe gave the Caribbean island a ranking of 97 for 2009, up 13 places. Will only help boost tourism and property investment in Dominican Republic” confirmed Simon.
For property buyers and Investors alike looking to find out more information about Property in Dominican Republic they should contact International Hot Property.
International property brokers advising client on International property and worlwide property investments. Sourcing the best investments before they become public
