In our ever-shrinking world, there’s a strong advantage to forging international connections, and particularly when considering luxury real estate. The common dream of an extended holiday in the Caribbean is becoming a reality for many people, as the area becomes rapidly more accessible to privileged buyers from around the world. Engel and Völkers’ arrival in Santo Domingo earlier this year provides definite confirmation that the Dominican Republic is the prime location for second homes in the Caribbean.
Encompassing the eastern half of the island of Hispaniola, the Dominican Republic is the second largest nation in the Caribbean. It’s been favoured by tourists for several decades now, and it isn’t hard to see why: the country is known for its idyllic palm-tree lined beaches, porcelain white sands and aquamarine sea. It also has one of the most diverse landscapes and cultures of the Caribbean, with stunning mountains, lagoons, and a vibrant Latin-influenced musical scene, with merengue its most famous export. The well-maintained, all year round golf courses are another major attraction of this picture-postcard perfect island.
The decision to expand Engel and Völkers’ services into the Dominican Republic acts as recognition of the country’s impressively expanding infrastructure and political stability. The country has seen a sustained period of growth which has made it the ninth largest economy in Latin America, much of which is based on the service industries.
Already the most visited destination in the Caribbean, increased foreign investment has boosted the property market, and the Dominican Republic is now a leading location for luxury second properties. There are excellent flight connections making it accessible from across the continents, and hundreds of miles of coastline offer high-end residences to meet the exacting criteria of professional buyers looking for sound investments.
Villas by the ocean with access to services and golf courses are in highest demand. The most desirable locations include the easternmost province of Punta Cana, a well-connected beach town facing both the Atlantic and the Caribbean. There’s also Samana, one of the most beautiful areas in the mountainous north-east, which was historically discovered by Christopher Columbus in 1493. If you’re a city-dweller at heart, La Romana combines the best of beach holidays with the bustle of a thriving city, while the picturesque fishing village of Juan Dolio is equally sought-after by clients looking for more secluded properties.
The new Engel & Volkers office is located in Piantini, another highly exclusive neighbourhood of the capital, Santo Domingo. The Managing Partner, Joan Arbusa said:
’The need for qualified consultancy is very high, as both the domestic and international clients here have very sophisticated standards. Engel & Völkers will be making a significant contribution to the professionalisation of the real estate industry here and the provision of excellent services.’
Interest in prestigious second homes in the Dominican Republic comes primarily from professionals in the US, Canada and Europe, but recent years have seen rapidly growing interest from Asia. The presence of Engel and Völkers in this exciting market opens up the island’s most impressive luxury properties to their discerning international clientele, adding the region to its list of more than 500 shop locations around the world and becoming their 37th country of operation. You can find out more by visiting the E&V website.