In the Dominican Republic, the demand for residential complexes in tourist areas is growing. Dominicans and foreigners buy apartments in them at the same time for their own recreation and for short-term rental. The Ministry of Tourism estimates that as of March 2023, about 40,850 apartments and 99,609 hotel rooms were on display on digital platforms such as Airbnb.
Javier Hermana, Executive Director of Cana Roc, noted that real estate has grown significantly in price over the past 7 years. Apartments that used to cost $150,000 are now worth $300,000 dollars. According to him, the country is considered a safe haven for investment due to its legal and physical security. In addition, investors benefit from tax incentives provided by the Government of the Dominican Republic as a reward for contributing to the economy. By 2023, accumulated investments in the real estate sector have reached $ 600 million.
We talked in detail about the features of the Dominican market in the material "Why is there a boom in the real estate market in Punta Cana?».
Source: Dominican Today
