The Real Estate market is moving

The best listings don't stay around forever

Whilst some listings may be gathering dust, the most attractive buys ARE selling.  What is it that makes some properties sell and others attract little interest or rejection?

 

 

 

This beautiful listing, described in an earlier blog, is a property which was sure to sell sooner rather than later.  The villa is extremely well cared for and represents good value for money...and now a discerning buyer has recognised its worth and has decided to purchase. 

Neglected or overpriced properties simply do not sell, along with those in the "wrong" location - it is a fact of life. At West Indies Real Estate we pride ourselves on trying to find the right home for prospective buyers and in taking our time to ensure that they are 100% happy with their final choice. 

We also believe it is our duty to be honest with our sellers about their properties.... although this may not always be popular.  

As much of our business comes by word of mouth and recommendation, it is important to us that our buyers and sellers alike are more than satisfied with our service.  Unlike the larger franchise companies such as Remax, Century 21 and Coldwell Banker, which are household names, we really do have to rely on our local reputation.  Whilst the larger companies are well known, the service provided may vary dramatically from franchise to franchise.  We, at West Indies Real Estate, are dependent on our clients recommending us and this is how we obtain much of our business.

If you would like us to help you choose the property which is right for you, or to list your property, please get in touch at info@westindies-realestate.com

 

 

Real Estate Tourism in Dominican Republic

Property outlook is great and real estate tourism is booming in the Dominican Republic, says the forecast from the Dominican Association of Real Estate Tourism Companies (ADETI).

U.S. $1.5 billion is invested in real estate property developments in Dominican Republic, says the ADETI President, Juan Bancalari. The real estate tourism prospective is even more upbeat considering the fact that it is expected to attract US$3.0 billion per year within three years.

Marinas, beaches and golf courses are the leading factors that make  real estate tourism and investment in the Dominican Republic so attractive. However, the country has competitors such as the wonderful beaches of Mexico and Central America. For this reason Bancalari, the president of Dominican Association of Real Estate Tourism Companies, says that the country needs to project an image of security for real estate and other types of investments to develop tourism and properties for European and American holiday vacationers.

It seems that the projection of a secure investment environment is working. As real estate development is experiencing a slump in Florida, a local engineering company is looking not only outside of the box, but also outside of the U.S. borders. “Bonita Springs-based Stafford Engineering will open the doors of a new office in downtown Santo Domingo, the capital of the Dominican Republic, on Tuesday and begin offering architectural, engineering, real estate, construction management and business relocation services in the Caribbean Island country.” – reports Naplesnews.com in its July 31, 2007 issue.

The newspaper says that “Other Southwest Florida businesses also are moving into Caribbean markets, Garcia added: Cape Coral-based Bellagio Homes and SJR Development are developing a residential community in the Dominican Republic, and The Jack Parker Corp., a Fort Myers-based real estate development company, is building a mixed-use community in Costa Rica.”

There is a change in tourism and holiday vacationers’ trends. According to Frank Rainieri, the vice president of ADETI, tourism is changing toward real estate tourism. "Before hotels were simply pure hotels. All the large chains of the world (...) are already entering the tourism real estate component. I believe that that already creates the new dynamics of investment in the tourism sector." - Dominicantoday.com.

Tourism, and particularly real estate property tourism, has been among the top five currency generating factors for Dominican Republic. It was this type of tourism that created the boom in the coastal areas of Southern Spain in 1970s and 1980s, which used to be Spain’s most economically depressed areas. Today, due to the real estate tourism and boom in properties, these have become some of Spain’s most developed and attractive areas. The Dominican Republic intends to do just the same by attracting more real estate tourism and emphasising  that investing in the Dominican Republic’s real estate and property market is safe and secure.

GATED COMMUNITIES - The Pros and Cons

After many years of living and working in the Dominican Republic, the Management of West Indies Real Estate would like to offer the following views on Gated Communities - Click Here

 

 

Property Market Still Buoyant on North Coast

 

 
According to a recent report in Hoy newspaper, house and apartment sales and new construction have decreased considerably in recent months in the Dominican Republic as a whole, due to rising costs of materials and borrowing. Doubtless, financial factors in North America and Europe have also had an impact. Despite this, Jaime Gonzalez, president of the Constructors and Housing Promoters Association (ACOPROVI), says that real estate sales have maintained a steady pace in tourist areas around the country. West Indies Real Estate has certainly found this to be the case on the booming north coast, where construction of new projects and individual homes continues at an exciting rate. West Indies continues to secure sales for properties across the board, helped by our longstanding reputation and many word of mouth recommendations.
 
 
 

Marketing Dominican Republic Real Estate Across the Globe

West Indies Real Estate recently exhibited at the A Place in the Sun property show in London, England, with other exhibitors from all parts of the world.  A Place in the Sun is a most popular TV show, magazine and website which has built on the insatiable desire of the British to own first or second properties abroad.  Judith Fox-Hogg and Paul Hogg, two of the owners of West Indies Real Estate, are British and are keen to continue with their strong links in this market.  We work with a number of reputable Real Estate companies there, as well as in other countries.

 

This is part of our ongoing investment in marketing and is just one of many  strategies to attract buyers from all countries, thereby offering a level of service to sellers and buyers alike which is, we believe, unequalled in the Dominican Republic.

In the past, West Indies Real Estate has exhibited in Britain, Canada and Russia and we intend to continue this tradition and to begin exhibiting in the United States.  We believe that the Dominican Republic  represents one of the best buys in the Caribbean and aim to make it more widely known in all markets.

 

 

 

 

Election Results Add to the Dominican Republic's Stability in Real Estate

At the election on 16th May, President Leonel Fernandez was granted four more years to serve the Dominican Republic. Fernandez is credited with restoring macroeconomic stability and a favourable business climate. Being ahead in the polls, his PLD party secured a victory with 53% of the vote. This represents the first re-election in Dominican politics since Joaquin Balaguer was re-elected in 1990.

This continuity will reinforce the recent view that the Dominican Republic is one of the top five places to buy in the Caribbean and will attract new investments on a small and grand scale, such as that recently made by Donald Trump, who is pouring more than $1 billion into resort and residence development on the island.  Click Here to read article.

 Judith Fox-Hogg, one of the Owners of West Indies Real Estate, met with the President during his last term of office to promote business and investment in the Dominican Republic.

 

 

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