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News Posted On: 10 November 2009
The Dominican Republic is proving to be one of the major benefactors of increased activity in the overseas property market, according to an expert.
Les Calvert of portal Property Abroad.com said that interest is increasing for Dominican Republic property faster than many other parts of the Caribbean, because, he says that most people are looking for cheap overseas property in the current climate.
"Dominican Republic property is less expensive than anywhere else in the Caribbean, and it has held its value throughout the downturn when lifestyle buyers kept the market alive. Now people can see that prices are low and the market is stable it is making it a very popular place with the current wave of buyer," he said.
This isn't the only thing driving increased demand in the Dominican Republic according to Calvert. The island is benefiting from the increase in people looking to make buy-to-let investments overseas.
"The credit-crunch showed just how vulnerable property is to losing its value as quickly as it gains it during good times. This has made people think twice about investing for capital growth potential, and most people looking at buying today are looking at a property based on the amount of money it will earn from rentals, and how much of that will be left after expenses," he said.
"People are being a lot more realistic about their expectations, there aren't so many people being blinded by the sun as there were before the downturn," he added.
View Dominican Republic property for sale
Written by Jamie Arthur
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