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O wning Punta Cana Apartments is not just a dream anymore. On these days Punta Cana offers properties and real estate at affordable prices. Punta Cana is a fast growing tourist and investment area. You can have any kind of property you wish: condos, apartments, villas or land. In fact, all kind of real estate is for sale in Punta Cana.
Punta Cana is among the fastest growing tourist destinations in the entire Caribbean. Because of its accelerated growth, it is hard to believe that 35 years ago all one could find there were a tiny adventurer’s hotel and one narrow road. Here are some reasons why Punta Cana and the Dominican Republic has become a great place to play, live and invest.
August 2012 resale prices are up 9% from August 2011.
8% Average Rental Income Per Annum in 2011. During the past 15 years the DR has received a total of US$12.1 billion in foreign direct investment (FDI)
In 2011 alone the DR received US$1.4 billion in FDI, slightly less than Costa Rica, but more than the remaining four DR-CAFTA countries. Tourism, tourism real estate and telecommunications were the major areas of investment.
Between January and August 2.6 million tourists visited the Dominican Republic, according to its Ministry of Tourism. This is a 4.5% increase compared to the same period in 2011, when 2.4 million tourists visited.
Over half the tourists came through Punta Cana International Airport (54.7%), while the remaining amount came through Las Americas International Airport (19.3%), Puerto Plata (15.8%) and La Romana (5.5%).
According to the Ministry of Tourism, the Russian tourist market grew considerably in 2011 with an 83% increase in Russian tourists compared to last year, Ukrainian tourism is up 11% and Polish tourism is up 92.5%.
From Latin America, there were also increases. There were increases from Brazil (up 32.5%), Ecuador (up 37.9%), Mexico (up 15.5%), Chile (up 44.8%), Argentina (up 38.1%) and Colombia (30.1%) as air links improved.
3.4% growth per annum for visitors through 2017
Arrivals come primarily from the United States, Canada, France, Spain, Belgium and Switzerland
Canadian market is showing its strength, with over 400,000 arrivals in the first quarter of the year, compared to 350,000 the previous year.
Area still in developing stages, great opportunity for investment.
65 Hotels with 40,000 rooms and 15,000 under construction.
More than 4.5 million visitors in 2011 with 55% arriving in Punta Cana.
10 operating golf courses
Punta Cana Real Estate still has the potential for astounding development.
Thinking about buying a property in Punta Cana? Buying a property can become a dream come true and also an excellent investment opportunity. But before buying any property, it is very important that you make your research about the area, compare prices, and ask the real estate agencies about the procedures when a foreigner is the buyer.
The following are some tips for you to consider before buying property in Punta Cana or any other place:
Ask about how much you would have to pay for property taxes and transfer title tax, in some cases taxes may not applied if the purchase is made by a foreigner
It is strongly recommended that you buy through a real estate agency, and not directly from the owner of the property, especially if this is your first purchase in Dominican Republic
Ask for evidence so you can verify that the owner does not have any pending tax payments.
Ask the real estate agent about the sale fees
The seller of the property should provide you with a copy of the title of the property.
Before the process of acquiring your own space, you should have in mind the prices. Apartments in Punta Cana-Bavaro can cost anywhere from US$80,000 to US$2,000,000 depending upon the location and type of apartment. These are decent prices if you think about the spectacular ocean views and private beaches that you will be able to enjoy.
A particular fact on Punta Cana Real Estate is that many renowned celebrities like Oscar de La Renta, Julio Iglesias and Shakira have residences on this region. Just like for celebrities there is luxury, comfort and amazing views on Punta Cana for everyone and all budgets.
Many years ago entrepreneurs with extraordinary business mentality purchased large beach properties at low prices and today most of the beachfront property of Punta Cana is owned and occupied by big resort hotels. You can purchase for future investments, to live there or just to have your own vacation spot.
Needless to say, Punta Cana has real esate which many say is highly undervalued. In November 2011 pre construction apartments prices started at US$125,000 in Punta Cana Bavaro an increase of 30% from November 2009. There are still real estate deals in this great seaside community but you need a local market expert to help you. The Team at Go Punta Cana Real Estate are experienced real estate professionals who have many years of home buying and selling experience in the Punta Cana area. Give Us A Try!