House Hunting in … the Dominican Republic

More foreign tourists fly in to the Dominican Republic than any other island in the Caribbean, though the Bahamas receive just about as many tourists on cruise ships. Over the past decade, the country had a building boom, much of it fueled by foreign buyers. Because most of them still pay in cash, the economic crisis has not generated a significant number of foreclosures. Even so, it did push prices down by about 20 to 25 percent, Mr. Houisse said.

The amount of new development, too, has fallen, by 70 to 80 percent, as a result of skittishness about global financial troubles, said Sandy Parekh, broker-owner of Remax Coral Bay Realty. “A lot of people that were going to develop projects have all put them on hold,” he said, “and there’s still very few projects that are starting at the moment.”

Prices, however, have now stabilized, and the market for the few available new homes is strong, said Philip Weiser, managing director of the real estate agency Carlton International. “The market for resale properties still has to recover,” he said. “There are many middle-range products remaining on the market, but quality properties sell very well.” Read the full article on the NY Times.

Hotel for sale in Cabarete

Hotel of 45 rooms in Cabarete, plus beach front landEstablished Hotel in Cabarete for sale on a area of 5,626 square meters, with a total of 45 rooms fully furnished with air conditioning and safe in each room. Large swimming pool with garden for a great atmosphere with on-site restaurant/bar. There are also grocery stores and many restaurants, all within close proximity… The beautiful beach of Cabarete is right across the road… Next to the Hotel and included in the price is a piece of land of 2,041 square meters and across the road a beachfront piece of land of 1,530 square meters with large swimming pool and gazebo already built…