The Fast Growing of Punta Cana
Dominican Republic East coast
Whenever you mention the Dominican Republic, one of the first places that springs to mind is Punta Cana.
This is hardly surprising, as Punta Cana has grown over the last few years and is now recognised as a power to be reckoned with in the global tourism marketplace. Punta Cana has enjoyed considerable investment from a range of sources, including industry and tourism.
As one of the leading areas in the Dominican Republic, it is unsurprising that there are plenty of people considering investing in Punta Cana property. Punta Cana has also attracted plenty of investors over recent years as, unlike the more remote parts of the Dominican Republic, it has a well-developed transport and communications structure, making property in this city less of a perceived risk than other more remote areas.
There is no denying Punta Cana's appeal to both tourists and property investors. This region is the place to be for those looking for state of the art facilities and some of the most dynamic nightlife in the country. As well as the modern facilities, there are some stunning beaches that boast unrivalled surfing and other water sports such as sailing and scuba diving.
Punta Cana is actually an area on the East coast of the Dominican Republic. Investing in property in Punta Cana is relatively new, particularly as the residential area really started to develop after 2005, and tourism really starting to take off in the 1990s. As a tourist destination, Punta Cana has really boomed in the last five years, causing property prices to grow by nearly 100 percent, in some of the more popular parts of the area.
In fact, the tourist industry in Punta Cana has grown so rapidly that there is now a widely recognised 'Hotel Zone' with more than 30,000 hotel rooms, most of which are fully booked during the high season.
Although hotel rooms are very popular, there is increasing demand for self-catering apartments and quality accommodation for independent travellers. Airlines are becoming aware of the popularity of Dominican Republic and as a result there are now plenty of flight choices for visitors, thus further increasing the popularity of self-catered properties.
Although the self-catered market has grown rapidly, it still centres largely on the beach apartments that are close to the tourist amenities.
New build apartments are generally considered a good investment, with solid capital growth and an ever increasing number of tourists travelling to the region. These trends not only promise good capital growth but also strong rental yields of around15 to 20 percent, annually.
Apartments are available from as little as 100,000 US dollars, with larger villas available for around 350,000 US dollars.
There is also considerable development opportunity in and around Punta Cana, with land available at really reasonable prices, allowing more ambitious investors the opportunity to plan and build their own property or even apartment block!
Punta Cana is very much on the up and is hugely attractive to tourists, worldwide, making this a real property hotspot! Find more information on http://punta-cana.us
About the Author
Karl Lober is a dominican republic real estate profesional and broker/owner of Trust Realty Punta Cana. His company offers a wide range of condos, apartments, villas, houses and lots in Punta Cana-Bavaro
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