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Dominican Republic Property
A Hot Tip For 2008
Dominican Republic property looks set to become THE hotspot for 2008 according to many experts. A number of combining factors have shot this once quieter part of the Caribbean to the top of many investors lists.
Investment in the area has opened up what's become known as 'Caribbean Highway' which now provides easy access to the fast growing region known as the Puntas, including Punta Cana and Punta Perla.
Tourism is currently growing at an average of 12% per annum and expected to increase further over the next three years! This is helped by the growing number of American and Canadian citizens travelling to the area. Which is good news if you're looking for an income from renting out your property.
Exciting Dominican Republic Property Development
The latest development in The Dominican Republic catching all the headlines is The Punta Perla Golf, Marina And Spa Resort in Punta Cana. The quality of the properties, landscaping and unique features planned by the developer gives it the potential to become a world-class resort. Separated into 5 distinct districts of golf, marina, island, beach and tropical villages it offers the investor quite a choice.
Still at the development stage there are some excellent incentives being offered by the developer keen to start the balling rolling.
The current offer on the golf property is available until the end of January 2008. These include :-
- 8% guaranteed rental yield for up to 10 years - net of management fees
- 10 years of tax incentives:
No tax on rental income
No capital gains tax
No property purchase tax (normally 4.6%)
Pre-launch prices (expected to increase by up to 25% before the
end of the year)
- A guaranteed buy-back with an increase of 30% over
the purchase price
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Foreign investors are increasing rapidly by the day. Many Dominican Republic property values have doubled in just a few years. With almost 4 million international visitors to the country each year (forecast to double over the next 8 years), the potential for property rentals is huge.
What sort of property is best for buy-to-let?
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