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Overview Dominican Republic & Cap Cana Investments

Discussion in 'Caribbean Real Estate' started by Chavo, May 5, 2007.

  1. Chavo

    Chavo New Member

    The Dominican Republic is covered in gorgeous beaches and surrounded by a relaxed culture. Tourism is
    continuing to grow within the area and with many international airports, it is easy and convenient to
    travel to the area. There are many untapped areas of real estate within the Dominican Republic, and by
    purchasing property the rental return can be high.

    Economic Situation for Investors
    Since the election of Leonel Fernandez in May 2004 as president, the Dominican Republic's economic
    situation has improved considerably and investor confidence is returning. Fernandez soundly used the
    three month period before taking up office in August 2004 to travel abroad with a view to re-establishing
    international investor confidence in a market whose international credit rating had declined quite a bit during
    the Mejía government. In his acceptance speech, Fernandez sent a strong message to the international
    community that he intended to tackle the country’s debt problems and fight against corruption in the Dominican
    public and private sectors. Since the Fernandez administration took control, the peso has strengthened considerably.
    Currently, US$1 is equivalent to RD$32.2 (€1 = RD$43.8)

    Climate
    The Dominican Republic enjoys a year round tropical maritime climate. A latitude of 17° 36, - 19° 58, places the
    Dominican Republic at the border of the tropical zone. Sea breezes refresh the insular territory, evening out
    temperatures to average 73°F (23°C) in the early mornings to 89°F (32°C) at mid-day. There is little difference
    between winter and summer temperatures with July averaging at 82ºF (28ºC) and January at 76ºF (23ºC).

    The lowest temperatures occur in the mountain areas near Constanza, where temperatures have dropped to 32°F
    (0°C), and record highs have been registered at the frontier with Haiti, 102°F (39°C) in the summer. The months of
    May to November are regarded as the rainy season. The hurricane season lasts from June through November, with
    August-September being the peak months.

    Strategic Location
    At the heart of the Caribbean, the Dominican Republic is easily accessible by most major airline. The average flight-time
    from major cities such as New York, Miami, Atlanta, Philadelphia, Newark, Toronto, Montreal and Chicago are only 4 hours
    away from the Punta Cana International Airport.

    Dominican Life
    Dominicans are not only known for baseball players (such as Sammy Sosa) and a relaxed sense of being, they are also known
    for wanting to make others happy. It is known that the islanders are easy going and laid back and want to make everyone’s
    experiences unforgettable.

    Press
    Dominican Republic - One of the few Caribbean investment bargains - Saturday, February 10, 2007
    WOKING, England: "With prices in neighbouring islands rising steadily and availability of land to develop becoming scarce,
    investment hunters should look to the Dominican Republic, according to a leading property investment company in Britain.
    It is the second largest of the Caribbean Islands and prices are said to be not anywhere near a peak just yet.

    During its much talked about dictatorship, from which it was slowly weaned away during the 70’s and 80’s, the country was
    pretty much untapped, but it was not until the 90’s that the Dominican Republic started to invest seriously in the tourism
    market, and thus brought investors.

    Bad management and a rush to accommodate the tourists meant that standards of accommodation were not up to scratch
    and the tourists went elsewhere. The fall of the currency brought attention to its failing economy until a change in the
    Government bought stability back once more.

    New luxury resorts and apartment complexes have since emerged and reinvented it as a jewel in the Caribbean. Crime rates
    are amongst the lowest in the Caribbean and its people are well known as being amongst the friendliest and warmest in the
    World. With the wealth of attractions it has to offer, such as the 350 tropical beaches, the Amazon-like forests and the
    gathering of 10,000 whales and dolphins every year on its shores, it’s no wonder tourism is booming.

    Millions of dollars are being invested in developing new resorts and luxury golfing complexes, and redeveloping untapped parts
    of the country previously inaccessible, and now being seen for the first time.

    Property investment company, Principal International, confirms that whilst prices are keen they still have a number of luxury
    apartments and villas for sale in the Puerto Plato region.

    Prices in the Dominican Republic have reportedly been rising as much as 20 percent per year, but this steady growth is not
    expected to last and as more and more investors realise the potential of this Caribbean jewel and development opportunities
    reduce, property will be at a premium.
    "

    Copyright © 2006 Caribbean Net News All Rights Reserved



    [For more facts on the DR, check out the CIA World Fact Book website]
     
    Last edited: May 5, 2007
  2. Chavo

    Chavo New Member

    Cap Cana, Dominican Republic

    Introduction
    As sales associate at Cap Cana, I have to share with you this project in the Dominican Republic. Maybe it is a
    project you'd want to invest in. This one-of-a-kind development rests in the beautiful landscapes on the southeast
    coast of the Dominican Republic and will be the country’s largest private community. At roughly twice the size of
    Manhattan, Cap Cana’s 30,000 acres will be home to four luxury hotels, one five-star condo residence, five golf courses
    (three of which are Jack Nicklaus Signature designs), an 800-slip marina, an extravagant collection of fine and casually-
    themed dining facilities, and a plethora of choices for quaint boutique shopping experiences.

    Construction at Cap Cana began in 2003, and the developers’ vision of an unparalleled Caribbean resort is now becoming
    a reality. Cap Cana has attracted buyers from all corners of the globe, including a substantial percentage from the U.S.
    with specific interest in the fivestar condo hotel called the Alta Bella Fishing Lodge. Before I actually start talking about
    its projects, I'll try to keep my focus about Cap Cana in general.

    "A unique collection of luxury properties"
    Cap Cana has an area of approx. 46 sq. miles. 5 miles of coastline of which 3 miles are white sandy beaches. It will feature
    5 golf courses, of which 3 are designed by Jack Nicklaus.

    At the moment, the first phase is now being constructed, which include:
    • the most complete state-of-the-art marina in the Caribbean with the capacity of more than 800 yachts, including mega-yachts.
    • Luxury hotels with several thousand housing units
    • Numerous sport facilities
    • Private beach, golf and yacht club
    • High-end stores, restaurants, spa's and entertainment complexes

    Tax Incentives
    The tourism incentive law 158-01, modified by law 184-02, establishes tax exemptions for certain areas of the Dominican
    Republic, including the area of Cap Cana (Juanillo). This law provides important tax incentives for a period of up to 10 years,
    such as exemptions from transfer tax, property tax, income or capital gains taxes, etc. Please note that tax exemptions also
    apply for the first buyer: the person who purchases a new unit directly from the developer*.

    * All applications in process. With the boom in the tourist industry, high rental returns are more achievable than many other
    obscure international destinations that are said to be “investment hotspots.” With the increased amount of tourism comes an
    increased need for rental properties. The ability to find a long-term rental property is becoming more difficult, but for owners
    of these unique units, the return could be quite lucrative.

    Press
    Press Donald J. Trump has signed a partnership agreement with Cap Cana, S.A. in the Dominican Republic to develop an
    enchanting luxury resort that will include a golf course, golf villas and golf lots, estate lots, a beach club, a condo hotel,
    and residences with ocean views that together will be called Trump at Cap Cana. The real estate luxury products to be
    developed represent an estimated value of over two billion dollars. The agreement was signed today by Cap Cana’s Board
    of Directors President, Dr. Ricardo Hazoury and Donald J. Trump, CEO and President of The Trump Organization. The first
    product to be developed within the partnership, “Trump Farallón Estates at Cap Cana”, will include 68 estates (with at least
    1.5 acres each). The estates are located within a gated community on top of the highest bluff in the area, at 200 feet
    above sea level, where one can enjoy spectacular views of the entire Cap Cana property and the Caribbean Sea. Homeowners
    in the Farallón community will enjoy special memberships to a variety of clubs and amenities within Cap Cana. Reservations for
    Trump Farallón Estates at Cap Cana are limited and currently being accepted on a first come, first served basis.

    I am excited to be building Trump at Cap Cana for several reasons. Not only is the Dominican Republic an exceptionally
    beautiful place with a wonderful history, but the allure of Cap Cana makes this a unique destination in the Caribbean,

    said Donald J. Trump. “This is going to be a magnificent project, and we look forward to developing thousands of spectacular
    acres into an elite destination that will be known worldwide in the years to come. I look forward to visiting often with my family.


    With the signing of this agreement, Cap Cana ratifies its goal to become renowned internationally as the ‘World’s Greatest
    Destination’,
    ” said Dr. Ricardo Hazoury. “By combining the Trump experience with Cap Cana’s natural beauty and the talent
    demonstrated by our team of professionals, in addition to the stable economy of the Dominican Republic, we are confident that
    together we will continue to seamlessly create a new standard for tourism, real estate, and hotels for the entire region. We have
    no doubt this is a win-win combination and look forward to all that lies ahead.



    So... what do you guys think thusfar? PM me or send me an e-mail if you have any questions
     

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    Last edited: May 5, 2007
  3. martha

    martha New Member

    Have been looking into moving to the D.R. for some time. Doing much research. What I seem to find advertised are only the new big developments. My question is: are there any used small apartments, houses, for sale ? I am retired and primarily want to escape the grandure of the states and France where I presently live. I want simple, a native house, near water. Does it exist?
     
  4. medseA

    medseA http://www.turkish-property-world.com

    what is investment? investment is making millions with your millions, like Mr. Trump
     
  5. Markp

    Markp New Member

    Yes martha,
    There are plenty on local appartments near the sea and the option to live near expats or not if you really want to go local or even a mix between the two.
    Because the Dom Rep is a comparatively large island there is a lot of diversity not found in many caribbean destinations.
    Consequently you can write a wish list of exactly what you are looking for a most of the time it is not to hard to find, but get expert advice there are pitfalls.
    Mark



    [


    QUOTE=martha;18743]Have been looking into moving to the D.R. for some time. Doing much research. What I seem to find advertised are only the new big developments. My question is: are there any used small apartments, houses, for sale ? I am retired and primarily want to escape the grandure of the states and France where I presently live. I want simple, a native house, near water. Does it exist?[/QUOTE]
     
  6. Chavo

    Chavo New Member

    The advertised development projects are easier to find for the obvious reasons, but yes, there are smaller (and less advertised) properties available.

    Do you have any preference whether you'd like a place on the north, south or east coast?

     
  7. anna2

    anna2 New Member

    Thanks for the info. What do you tihnk of Cabarete as a place to buy on the north shore?
     
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