Released on: October 25, 2008, 8:09 am

Press Release Author: International Hot Property

Industry: Real Estate

Press Release Summary: Dominican Republic and the opportunities for International
property investment

Press Release Body:

Dominican Republic Property is a very sound Investment in the present credit crunch
times for both tourism and economic reasons according to Simon Jones market analyst
at http://www.internationalhotproperty.co.uk/ . "President Leonel Fernandez Reyna,
presented a decree (2543-45) in 1998 eliminating restrictions to real estate
ownership by foreigners, thus recognizing that the former law was a barrier for
foreign investment. Prior to this new decree, a real estate purchase by a foreigner
was a lengthy procedure and had to be processed by local attorneys and required the
special authorization. Under Decree 2543-45, real estate investors will enjoy the
same rights as Dominicans. Property in the Dominican Republic is very reasonably
priced and proving popular with buyers for various reasons. Some look to purchase a
piece of paradise for their retirement years and with Dominican Republic property
prices more favorable than almost all other similar destinations it is an obvious
first choice. With prices so competitive and the perpetual increase in the areas
popularity with tourists, investors see property in the Dominican Republic as a safe
investment with prices only set to rise and rental potential drastically increasing
in line with its popularity" explained Simon.
Some $30 million for the reconstruction of highways has been granted by the OPEC
Fund for International Development, a number of new Aerocaribbean flights and the
construction of a ferry terminal costing $10 million at the Sans Souci tourist port,
will also significantly add to the island's attractiveness to investors. These plans
are a major boost for a country where tourism accounts for 24% of GDP and is
fuelling economic growth. The contribution of tourism to employment is now expected
to rise from 555,000 jobs in 2008 to 743,000 jobs by 2018. By 2012, it is forecasted
that the Dominican Republic will receive five million annual visitors, a one million
increase over expected 2008 visitor totals. "Obviously these factors along with the
news that The World Bank Doing Business study of 181 economies around the globe gave
the Caribbean island a ranking of 97 for 2009, up 13 places. Will only help boost
tourism and property investment in Dominican Republic" confirmed Simon.
For property buyers and Investors alike looking to find out more information about
Property in Dominican Republic they should contact International Hot Property.







Web Site:
http://www.internationalhotproperty.co.uk/overseas_property/Dominican_Republic

Contact Details: INTERNATIONAL HOT PROPERTY
http://www.internationalhotproperty.co.uk/overseas_property/Dominican_Republic