For those looking for their ideal piece of real estate heaven in the sun – it seems too much to expect to find many bargains in the Caribbean – unless your pockets are pretty deep! But there is still one place where prices are not yet 'silly', and where potential gains in investment property values look set to be more than 'just attractive' over the next half-decade or so. Here are some good reasons why this is the case...
Well, for starters, there are still many folks around who do not realize that this place is even in the Caribbean. Often, when it comes up in conversation people will still admit they don't know where it is! Yet it is the second largest Caribbean country after Cuba.
The country was held in a vice-like grip of dictatorship for many years – only gradually weaning away from dictatorial politics gradually through the 1970's and 80's. Indeed it was not until the 1990's that some of the serious tourism potential of this place really began to be realized. But when the lid-began to lift off the Caribbean's best kept secret, early pioneers of the tourist market made some pretty 'naïve' blunders, too.
During the first wave of 'tourism success' this potentially 'golden-investment- goose' was almost killed by an early form of 'bird flu' in the form of cheap 'all-inclusive deals', hosted in rapidly built hotels with dubious standards of accommodation and food, often with a dose of 'holiday tummy' thrown in for free! Soon, the promised torrent of tourists began to dry to a trickle.
Sadly even at the turn of the century an inept Government came to power and virtually bankrupted the country. This led to rampant devaluation of the local currency. Exploitative opportunists looking to make a fast buck from impoverished locals began to make-hay. This included the emergence of a sleazy and degenerate 'sex industry' that further damaged the country's nascent reputation as a holiday 'hot-spot'.
Thankfully, though, a strong hand came back to the 'economic' tiller in the last few years. This has resulted in the complete transformation of this Caribbean gem from besmirched beauty, to glittering princess.
Established resorts have been re-born as family friendly places where typical tourists can be sure of a warm welcome. Brilliant new resorts of world-class stature have emerged. Crime rates are amongst the lowest in the Caribbean and the locals are widely acknowledged as being some of the friendliest people in the World!
Over the last half decade shrewd investors who began to recognize the particular attributes of this naturally blessed country began to lay claim to their own piece of this heavenly Isle! This land offers a unique range of attractions as diverse as – Amazon-like forests and tropical beaches; impressive alpine-style mountains plus vibrant historic cities; translucent waterfalls, calm shallow bays yet also supreme water sport opportunities. It is also abundant with nature's wonderful rarities like amber and larimar, and spectacles like the annual gathering of 10,000 whales and dolphins!
It is no wonder that with there now being a firm hand on the political reins, many international companies have been taking the plunge into this Land's warm investment waters by building some of the finest real estate opportunities in the Caribbean along some of the country's 350 tantalizing tropical beaches!
In the shape of superb leisure and vacation complexes, often offering World class golf courses, the Caribbean real estate investors of this new millennium have shrugged of the false start of the 1990's. Now there are superb and eco-sympathetic developments set in tropical greenery a stones throw from almost deserted beaches, lapped by the Caribbean Sea, or maybe the Atlantic Ocean!
Now is the time for those with a 'yen' (or a dollar, euro or pound – come to that) to invest in a vacation dream villa – to consider seriously this 'precious gem' of a country. For it may offer the last 'bargain priced' real estate opportunities in the Caribbean. But if you are wondering why such a rosy outlook is predicted for future property values then consider this...
There is currently a program of millions of dollars being undertaken to refresh and renew existing, as well create brand new, travel infrastructure across the country. This means that some of the finest parts of the Island, hitherto hard to reach and difficult to develop, are finally becoming genuinely accessible for the FIRST TIME.
With property value increments already in the region of 20% per year – now is THE time, if ever there was one, to venture into the Caribbean real estate market! You could invest in a vacation apartment, or buy a beautiful detached villa in a high-class a gated-community, or maybe an alpine lodge in a wonderful mountain town would appeal? Whatever your preference the opportunities are there for the taking, and now is the time to 'do it'...if you do not want to be one of those saying "IF ONLY?", yet again, in a year or two's time!
But, I hear you yelling, "Where is it that you are talking about?!" Why, the Dominican Republic of course...still an almost undiscovered gem, and possibly the last real opportunity to get into true Caribbean real estate investment, at the 'just the right time'!
By Al G Smith - author and co-developer, with his wife, Dominican born, Ruth Ramos de Smith and her sister Esther Ramos of http://www.visiting-the-dominican-republic.com a premier website resource featuring articles, contacts, information and links for anyone visiting the Dominican Republic on vacation, for business, or seeking that perfect Caribbean investment property. The site includes plenty of information about Dominican Republic holiday resorts, too!