SANTO DOMINGO– The country's promotional campaign, launched by the Ministry of Tourism (Mitur), has strengthened the Dominican Republic's position, placing it among the world's top travel destinations. This, coupled with the booming real estate tourism sector, has led to a shift in the sales strategies of the country's leading real estate agencies.
For about two years now, real estate firms have increasingly been participating in world-renowned international events. Others have even incorporated their presence in international markets into their annual work plan as part of their strategy to achieve their goals.
Plusval Dominicana is a real estate company that has ventured into the international arena. For the past three years, it has been working in the European and US markets, setting up real estate fair platforms aimed at Dominicans living abroad and other Latinos who want to buy property in both tourist and urban areas of the country.
“For example, last year we went to New York and Puerto Rico. This year we're going to New York again, we've already been to Providence and Boston, and we'll have two more events this year, in addition to the Gran Salón Inmobiliario de Colombia where we'll be present,” the company's CEO, Juan Chalas, told El Inmobiliario last June.
Earlier this month, from the 1st to the 3rd, Urban Realty Group announced the start of its cycle of international real estate fairs, inaugurating its program in New York City, where it traveled with a dozen real estate advisors to attend to the demands of the diaspora and potential investors.
“The idea is to visit different cities, bringing them the options and facilities we have available, so they can choose and learn about our alternatives firsthand and ask their questions without having to leave their place of residence,” explained Ada Sarmiento, Human Resources Manager of the real estate company.
Tu CasaRD announced last November a strategic agreement with Banco de Reservas for the real estate sales operations that the former carries out at real estate fairs held in New York City.
“It was a strategic alliance, which we will continue to maintain in the coming years to work together, since Banreservas' offices in New York are open and they recently inaugurated one in Miami,” Western Hernández, CEO of Tu CasaRD, explained to El Inmobiliario . On its Instagram account, the company is announcing two fairs this March, from the 22nd to the 24th, in New York and Lawrence.
Noval Properties, the real estate developer and agency, opened its first office abroad last year in Bogotá, Colombia, with plans to expand its operations to other international locations to promote its real estate developments in the country's main tourist destinations.
Infinity Group has been holding its "Dream Home" fair in Miami and New York for 12 years, to advise and motivate the Dominican diaspora to invest in their country.
In a recent interview with El Inmobiliario Lissette Delmonte, CEO of the brand, highlighted the 3 types of advice that should be exported to potential clients residing abroad: legal, mortgage and real estate.
Mr Home Real Estate Advisors is another brand that has jumped on the international bandwagon. “The favorable socio-economic reality that the Dominican Republic is currently experiencing is the driving force behind the movement of real estate agencies seeking business opportunities abroad,” declared Juan Estévez, one of its founding leaders, in June of last year.
FITUR and SIMA in Madrid; Puerto Rico, the USA, Panama and Colombia have been among the countries where the company has flown the Dominican flag, with Canada, Chile, and other destinations on its agenda, according to Estévez.
ApartamentosRD held a real estate fair in New York and New Jersey from March 9th to 10th, where they showcased properties from Punta Cana, Santiago, and Santo Domingo.
Others such as H and J Real Estate, Echenique Real Estate, Elite House, BC Real Estate, among others, are also part of the new wave.
Grand Real Estate Show
At the Gran Salón Inmobiliario, held every August in Bogotá, Colombia, at the Corferias facilities, in 2023 the marked interest of real estate agencies in opening up a space in the foreign market was evident: 42 companies and more than 400 participants set a record at the event, even generating the opening of new pavilions, due to the massive Dominican presence, where the Dominican Republic served as the guest country, organized by the Association of Real Estate Agencies and Companies (AEI).
Fitur
One scenario that represents the common denominator among most real estate firms is the International Tourism Fair (Fitur), which takes place every January in Madrid, Spain, and where the Dominican Republic showcases an impressive stand, where it displays the charms of the island and its varied culture, and where numerous real estate agencies parade.
The vast number of tourist real estate developments being built in the country and the high rating the nation enjoys as a destination represent the ideal climate for travel and promoting the various offers, and real estate agencies have been able to capitalize on the scenario.
