Why Invest in Dominican Republic Real Estate
1. Stable and Growing Economy
With a stable government the Dominican Republic has one of the fastest growing economies in the Caribbean.
“The economic growth of the Dominican Republic has tripled the regional average over the past two decades, resulting in 2.8 million people rising out of poverty, a middle class that now surpasses the poor population, and an improvement in the quality of life in terms of access to basic services, housing, and education”
“In 2024, the economy is expected to grow by 5.1%, thanks to monetary easing, increased public investment, and a record influx of tourists. In the medium term, growth will be driven by strong consumption and investment, supported by reforms in areas such as fiscal policy, energy, water, and employment, as well as initiatives to improve education and attract foreign investment.”
“The government has shown a strong commitment to addressing the long-standing challenges posed by the electricity sector through a comprehensive package of reforms aimed at increasing transparency, accountability, and efficiency in the sector, continuing the diversification of the energy matrix to include less polluting energy sources, and increasing access to reliable and affordable energy.”
2. Tourism Key Driver
“The tourism sector in the Dominican Republic has become a key driver of economic growth, generating approximately US$85,469 million in foreign exchange over the past 13 years. In 2023, the industry saw a 17% increase compared to 2022, highlighting its continued expansion. Tourism now accounts for 8.2% of the country’s GDP and represents more than 20% of its foreign currency income.
Resource: World Bank Group
Continued projects provide strong growth in the Dominican Republic.
Gastronomic Tourism: Recently the Dominican Republic’s Minister of Tourism, David Collado, recently unveiled its strategic plan for Sustainable Gastronomic Tourism. This will transform the country’s gastronomic tourism from 2025 to 2030, the plan aims to position the Dominican Republic as a top gastronomic destination in the Americas.
North Coast – Puerto Plata’s new Punta Bergantin Tourism Project is a significant investment with nearly $300 million for an 800-room hotel. Perfectly located 10 minutes from the Puerto Plata Airport and 15 minutes from the beautiful Sosua beaches.
Puerto Plata – With the hotel development thatPuerto Plata will experience after the implementation of the Punta Bergantín tourism project, the aeronautical sector must be prepared to add and offer visitors new flight options since, within the master plan, there is a strategy to create a fund to add eight weekly flights to the Gregorio Luperón airport.
With this, Aeropuertos Dominicanos Siglo XXI (Aerodom) has the vision of bringing the giant A380, the world’s largest airliner, to the Bride of the Atlanti
3. Affordable Real Estate
The Dominican Republic offers competitive property prices compared to other Caribbean countries. A new 2 bedroom villa located in well-established gated community can start in the $200,000 US (includes private pool, lot & construction). Ideally located near the beautiful beaches of Cabarete & Sosua in the North Coast.