dominican republic property sales set for 2010 increase
News Posted On: 13 January 2010
2010 is set to be a very good year for foreign sales of Dominican Republic property
Caribbean property sales dropped off a cliff in the second half of 2008, when the faceless US credit crunch became a crisis of international proportions, and even those not affected stopped buying overseas property and other extravagances for fear that they might be if it got as bad as predicted.
Unfortunately, the Dominican Republic market had previously been attracting predominantly low budget buyers, and so, while high-end developers were able to increase sales by cutting back on luxuries to reduce prices, Dominican Republic developers did not have as much room to manoeuvre.
For that reason, while Dominican Republic continued to struggle, the high-end markets saw sales increasing since April 2009. This is when the price-cuts combined with the recovery in international economies reducing fear on a grand scale, as the full extent of the crisis could then be seen.
However, this was largely because those buying in 2009 were predominantly the better off among society, those who hadn't been affected directly by the crunch, but who had stopped buying on fear alone.
In 2010 the recovery in international markets is expected to continue, if potentially at a slowing pace as central banks remove their stimulatory measures. The longer the recovery continues the more confidence will continue to build down and down the pay scales.
Dominican Republic property is still the bargain of the Caribbean, and still has one of the fastest growing tourism sectors. When the low-mid budget buyers return to the market this spring Dominican Republic property is almost certain to be a favourite.
View Dominican Republic property for sale
Op-ed written by Liam Bailey
Back to news articles for this country
Latest Related News Articles in Dominican-Republic
Dominican Republic Offers Affordable Caribbean Living
2011-10-19
The island is proving to be popular with holiday home buyers looking for a bargain, because there ar.....
Dominican Republic Property Set for Increasing Sales
2010-10-15
Strong economic growth will boost sales of Dominican Republic property as confidence returns in the .....
Dominican Republic Set to Benefit from Resurgence of Low Budget Buyers
2010-05-28
The Caribbean property market has been enjoying a strong recovery in its prime (expensive) markets, .....
Dominican Republic Tourism on the Increase
2010-04-22
The Dominican Republic Ministry of Tourism has told the international travel industry that Dominican.....
Dominican Republic Property to Benefit from Financial Instability in EU
2010-03-02
Tose with cash savings are growing increasingly nervous about inflation and currency devaluation. Mo.....
Dominican Republic Property Sales Set for 2010 Increase
2010-01-13
The return of low-mid budget holiday home investors will generate a substantial increase in Dominica.....
Dominican Republic Set to Regain Popularity with Overseas Property Investors
2009-12-14
The low property prices and rapidly rising tourism made Dominican Republic a favourite with overseas.....
UAE Signs Open Skies Agreement With Dominican Republic
2009-10-05
United Arab Emirates has signed an agreement allowing open air travel between UAE and Dominican Repu.....
Dominican Republic Property Market Well Placed to Recover Quickly
2009-08-17
The International Monetary Fund is forecasting a 0.5% growth in the Dominican Republic economy for t.....
Dominican Republic Tourism Weathering the Crunch
2009-07-16
The Dominican Republic is faring better during the credit crunch than many of its rivals because of .....