Among the ideas for investment in holiday apartments, Cofresi Hills Residence is a unique and prospective investment opportunity that has emerged on the exotic north coast of the Dominican Republic, in Puerto Plata.
Promising statistical data indicates that the location of our investment provides a competitive advantage.
In 2022, Puerto Plata received approximately 1.5 million tourists, representing a significant 20% increase compared to 2021 (Ministry of Tourism of the Dominican Republic, 2023). Analysts attribute this rise to its diverse attractions, including pristine beaches, colonial architecture and verdant mountain ranges. This list is enhanced by rich culture and outstanding hospitality of Dominicans.
The popularity of vacation rentals has also simultaneously increased. A recent study conducted by the National Association of Realtors (NAR) reported that 44% of investors are more interested in the vacation rental market compared to the relevant data from two years ago. Puerto Plata has been highlighted as an emerging market within this trend (NAR, 2023).
The price of luxury apartments in Cofresi Hills Residence remains very attractive compared to many other tourist destinations. The average price per square meter of a fully equipped apartment in our resort is nearly twice as low compared to equivalent properties in Miami and popular European resorts (Zillow, 2023).
Furthermore, Puerto Plata has seen an average annual property price increase of approximately 7% over the past five years, compared to a global average of around 5% (Knight Frank Global House Price Index, 2023). This upward trend, along with the growing popularity of Puerto Plata, creates a favorable environment for investors.
In recent years, the Dominican government has been working on improving the quality and transparency of property ownership regulations, which has been successfully achieved. According to the World Bank’s “Doing Business” report for 2023, over the last two years, the country has moved up 15 places in terms of ease of property registration.
Rental yields in Puerto Plata have also been impressive. In 2022, gross rental yields ranged from 6.5% to 7.8% (Global Property Guide, 2023), significantly higher than the global average of 5.6% (OECD, 2023).
Puerto Plata offers incredibly favorable prospects for investments in holiday apartments, but choosing the right one is crucial. Contact us and discover why Cofresi Hills Residence stands out as the top suggestion.
Sources:
- Ministry of Tourism of the Dominican Republic, 2023
- National Association of Realtors (NAR), 2023
- Global Property Guide, Zillow 2023
- Knight Frank Global House Price Index, 2023
- World Bank, “Doing Business” report, 2023
- OECD, 2023
We will be happy to provide more information or answer any questions you may have. Feel free to contact us as soon as possible.
