PUNTA CANA, LA ALTAGRACIA PROVINCE.– Yahaira Batista, Santo Domingo commercial director of the developer Noval Properties, believes that the Dominican Republic is in the best moment to invest because it enjoys a favorable climate at the social, political and economic levels.
“I believe the Dominican market is at its best, obviously with a clear vision within a climate of growth, which presents a great opportunity to continue bringing in new foreign investors, which is what Noval and the other competitors are actually doing: attracting investors who are unfamiliar with the destination so they can make their best investment,” she responded when asked about the various fairs that real estate firms are holding in the US market.
Batista said that foreign investors are inclined to bring their capital to the country because they see all the benefits the country offers, such as tax exemptions and its beautiful beaches.
“Foreign investors don’t like to complicate things, and obviously there is a great opportunity to do big business considering that a study by the National Association of REALTORS, NAR, establishes that 52 million Americans invest outside the United States and that the average investment ticket is US$392,000.
He stated that of the aforementioned figure, 4% of American citizens do so in the Dominican Republic, which is why this market represents a niche of interest for real estate agents.
“Obviously, the local investor or the Dominican diaspora investor is a bit more limited; there are only three million Dominican investors, with an average figure below US$250,000.”.
Noval in 2024
He said that during the current year, Noval Properties' sales have been flowing positively because the brand has a good product, with an excellent location, a team that delivers results, and real estate agencies believe in the product, in addition to good service.
Yahaira Batista. (Fidel Pérez/El Inmobiliario).
“At Noval, we're doing well. If we compare last year to this year, we're at the same level. For example, last year RE/MAX Paradise, which was our top seller, has 92% of its revenue this year, as does Urban Group, which currently has 93% of its figures from last year.”.
He opined that the market has slowed down somewhat this year and has returned to its normal pre-pandemic pace. “Because we're coming from a post-pandemic period where people were really eager to go out and invest, the market has stabilized again. We're back to the way things were before, where people buy intelligently, not in a panicked way like they did after the pandemic. What I understand is that the market has returned to what it was before,” he noted.
Good projection
The Noval Properties executive projects that investments will continue for the rest of the year, as the country is among the favorite destinations and enjoys a favorable climate.
“Now is the best time to invest. There’s no better risk than acquiring a property because your product is tangible, even if the stock market falls. But you invest in a property that costs you US$250,000 and in three months it has risen to US$270,000, and by the time you deliver it, it costs you US$325,000. So why invest in other businesses when real estate investment is the most feasible and tangible for our clients?”.
