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A Look at Punta Cana Real Estate
Real Estate in an area like Punta Cana is hot property. Despite development of the island in recent years, there is still potential for appreciation when purchasing property in such a popular vacation destination.
Punta Cana is among the fastest growing tourist destinations in the entire Caribbean. Because of its explosive growth, it is hard to believe that 35 years ago all one could find in Punta Cana was a tiny adventurer's hotel and one narrow, dirt road. There was no airport, the hotel didn't offer the services that are offered today. With roughly 40 hotels, 30,000 rooms, 5 operating golf courses and its own power company, Punta Cana still has the potential for tremendous growth.
Punta Cana is a safe destination known for the warmth of its people and their hospitality. Though a small town, it has all the amenities of a metropolis and is endowed with a moderate tropical climate, beautiful beaches, and luxurious forests.
Many years ago entrepreneurs with great foresight purchased large beach properties at very low prices and today, most of the beachfront property in Bavaro and Punta Cana is owned and occupied by big resort hotels. There are very few beach properties left at relatively high prices, but there are still excellent opportunities for acquiring land with a great potential for growth, considering the pace of urbanization.
Acquiring property in Punta Cana is straightforward, but still, foreigners purchasing property anywhere in the world outside their native countries need to exercise extra caution. One can obtain help from a real estate attorney to get through the process. The government's only requirement is that the Title Registry Offices keep a record, for statistical purposes, of all purchases made by foreigners.
Apartments in Punta Cana can cost anywhere from $50,000 to $225,000 depending upon the location and type of apartment. Beachfront land costs between $15 per square meter to $200 per square meter.
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