New York, New York (PRWEB) April 17, 2013
The Engel & Völkers Group expanded its global network further with a new brokerage in the Dominican Republic, marking the 37th country in which the international luxury real estate company now operates. The first Engel & Völkers shop in the Dominican Republic is located in Piantini, one of the most exclusive neighborhoods in the country’s capitol, Santo Domingo. Engel & Völkers’ international network will make it possible for the brokerage to offer its portfolio properties in nearly 500 locations worldwide, and benefit from access to an international pool of prospective buyers.
“I am very pleased to be representing the service quality and international network of Engel & Völkers in the Dominican Republic. The need for qualified consultancy is very high, as both the domestic and international clients here have very sophisticated standards. Engel & Völkers will be making a significant contribution to the professionalization of the real estate industry here and the provision of excellent services,” said Joan Arbusa, Managing Partner at Engel & Völkers in Santo Domingo.
“Our new presence in the Dominican Republic is yet another world class location where our clients can now expect the service, expertise and exceptional property opportunities only Engel & Völkers can provide,” said Matthew Hostetler, Senior Vice President Market Development, Engel & Völkers U.S. “This is especially great news for our clients in the U.S. who travel to and vacation in the Dominican Republic often.”
The Dominican Republic is located between the Atlantic and the Caribbean oceans in the eastern part of the island of Hispaniola. Haiti occupies the island’s western part. Idyllic beaches, a pleasant climate all year round, picturesque villages and a hospitable local population make this island state a very popular holiday destination. Due to numerous investments in the infrastructure, particularly over the last decade, and a greater number of flight connections, the country has evolved from a purely tourist destination into a much sought-after location for second homes.
Attractive investment conditions for foreign buyers
Political stability, sustained economic growth and favorable legislation all make for very attractive investment conditions. Flourishing sectors such as tourism, mining, construction, insurance and the energy industry are attracting increasing numbers of foreign investors, which gives an additional boost to the Dominican property market. Enquiries for prestigious second homes are received from around the world, and are particularly popular amongst buyers from the United States, Canada and Europe. Yet more interested parties originate from Asia. Besides native Dominicans, the investor demographic on the market tends to be dominated by those from the US, Canada, Spain, Russia and Venezuela.
The most desirable locations for second homes include Punta Cana, Samaná, La Romana, Juan Dolio and Puerto Plata. Villa properties directly by the ocean are in particularly high demand. Many clients regard a spacious living interior with large rooms and high ceilings as an important purchase criterion. Resorts are also very popular, offering premium real estate as well as an excellent all-round service and first-class golf courses. Exclusive estates in premium locations can reach top prices in the Dominican Republic up to 17 million US Dollars (approx. 13.0 million euros).
About Engel & Völkers
Since its beginning in 1977 as a specialty boutique providing exclusive, high-end real estate services, Engel & Völkers has become one of the world’s leading companies specializing in the sale and lease of premium residential and commercial property and yachts. Engel & Völkers opened its first brokerage in the U.S. in 2006 and currently operates a global network of over 4,200 real estate advisors in 492 residential brokerages and 43 commercial offices spanning 37 countries across five continents, offering both private and institutional clients a professionally tailored range of luxury services. Committed to exceptional service, Engel & Völkers supports its agents with an array of high quality business services; marketing programs and tools; cutting edge mobile, social and web technologies; as well as access to its global network of real estate professionals and data. Engel & Völkers is an active supporter of the Fair Housing Act and the Equal Opportunity Act. Each brokerage is independently owned and operated.