New construction on one of the Caribbean’s key island nations remains “steady” with demand still high, according to property agents.
La Costa Destinations International Realty, which promotes Dominican Republic real estate, revealed building work had slowed at some resorts but said property prices are stable.
The firm specialises in real estate from the Punta Cana area of the country, and is relocating its headquarters there from the US, which is currently experiencing a less favourable property outlook.
According to the firm, luxury property in the Dominican Republic could remain in high demand thanks to heightened interest from US ‘baby boomers’ and retirees from Europe.
Scot Medina, owner-broker with the company, said: “With every downturn, opportunity is always nearby. Terrific value can still be found in pristine Dominican Republic real estate.”
Investors looking for new property could also find developers are more open to negotiation and may offer extra incentives, La Costa added.
New Dominican Republic projects include the Vista Cana Resort & Country Club, Punta Cana, a collection of villas, townhouses and condos.
Elsewhere in the Dominican Republic new real estate is also available in the Two Rivers beach resort, where a number of beach front villa designs are on sale.
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