Originally Posted by Caribbean Star
I understand that a lot of the Punta Cana development doesn't have planning permission? And the eastern tip gets hit by hurricanes?
Add to that the sheer volume of development there, how will investors re-sell?
All new developments in Dominican Republic have planning permissions. A project needs also to be aproved by tourism development office. It can take some months. There are as well strict procedures to follow, since the number of bedrooms x hectare (density allowed), the height of the buildings or the percentage of the land destined to be a green zone.
Re-selling is working well, there is to much demand. Think that a lot of people from Europe and North America want to spend there their retirement.
Furthermore, if you don't want to re-sell the apartment quickly and you can afford to keep it for a period of time, I am selling apartments that the developers guarantee an 8% of net rental income for 5 years. (The developer is from UK). That can be an interesting option as well.
Prices in Punta Cana have risen around 300% in 5 years. Even Donald Trump is investing there.
About Hurricanes, yes, sometimes there are, but high level of construction standards minimize damages. I won't be worried about that.