About Dominican Republic

The Dominican Republic is a magical land where towering mountain ranges draped with sultry forests sweep down into deep verdant valleys of tropical forest and lush jungles, threaded with crystalline rivers and cascading waterfalls. In total contrast, sun-baked, semi-desert plains coexist under the cloudless azure sky. Situated in the heart of the Caribbean it has 300 kilometres of the most beautiful, shimmering beaches which range in colour from golden to sugar white, fringed with elegant, swaying palm trees. Beneath the warm, clear, turquoise seas lies a wonderful underwater world of colourful coral reefs that are home to countless varieties of tropical fish and marine life.

The Dominican Republic occupies the Eastern two-thirds of the island Hispaniola and is situated between the Caribbean Sea and the North Atlantic Ocean, bordering east Haiti. The capital Santo Domingo is the New World's oldest capital and contains many colonial buildings which have been carefully restored to retain their original charm. There are many fine examples of 16th century Spanish architecture and many fascinating structures that have survived for over 500 years.

The Dominican Republic has undergone a huge reform process and the island is currently undergoing government investment in infrastructure which has provided an excellent climate for investment. In recent years the number of tourists has risen to such an extent that the country is now seen as a major tourist attraction in the Caribbean.

Tourism accounts for more than 1 billion US$ in annual earnings. Free Trade Zone earnings and tourism are the fastest growing export sectors. The establishment of free zones has succeeded in attracting much foreign investment, creating employment and spurring growth. President Leonel Fernandez 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 requiring 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 favourable 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 inline with its popularity.

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