Dominican luxury real estate development and sales soar

Dominican Today

April 19, 2007

New York.- Nest Seekers International, a leading real estate brokerage company specializing in luxury property sales, has developed a booming practice in the Dominican Republic. The company’s spike in region is reflective of a new and exploding trend of Americans acquiring real estate in the Dominican Republic for primary living, holiday homes, and retirement properties.

For many years the Dominican Republic has been the popular home to a host of celebrities including fashion designer Oscar de la Renta and the crooner Julio Iglesias. Now, with a wide-array of developments sprouting up, and previous restrictions on purchasing lifted, the floodgates have opened up for a region that could soon resemble South Beach, Miami in terms of demand and selection.

“As the overall cost of living in the Dominican Republic is relatively low, and with virtually no significant restrictions on foreign nationals owning real estate there, it is becoming an increasingly popular target for luxury real estate purchases,” commented Eddie Shapiro, Founder and CEO of Nest Seekers International. “My company’s rapid growth in this region demonstrates the new dominance of the Dominican Republic in the international real estate market -- I believe this real estate trend is bound to continue for some time.”

On the political side, president Leonel Fernandez appears to be supportive of the real estate growth, which is serving as a complement to the Dominican Republic’s already thriving tourism economy.

In fact, in recent months the Dominican Republic has been the focal point for an array of large-scale developments including: Donald Trump’s $2 billion condominium complex, Trump at Cap Cana, and the new Aquabella Beach, Spa and Marina on Juan Dolio Beach -- a 170 unit, twenty story affordable luxury development with units starting at $220,000.

Wendy Jackson, Vice President at Nest Seekers International, heads up the Dominican Republic sales group, where many American and European customers have been turning up for luxury purchases. “The new popularity in owning real estate in the Dominican Republic comes as no surprise in light of the tax advantages, value, and high quality of life in the region.”

She added that there is an extremely wide diversity of luxury properties, ranging from the ocean front condos to private villas. “In short, there is something for everyone, whether you are a retiree, someone looking to relocate to a paradise setting, or simply a savvy investor.”

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