The Dominican Republic is a hot spot and great vacation destination for travelers. It has become a destination also for foreigners that are looking to find residence while they work in the country. In the past 10 years, the Dominican Republic has become a very popular area for foreigners like Germany, United Kingdom, Spain, Venezuela, Italy, Colombia, Argentina, etc to call this country their second home. Many foreigners relocate because of the business they have or the companies that they work for change locations. This also means a great opportunity for the builders, developers and real estate brokers for the vast growth in the real estate market. There is a large amount of money being invested into the Dominican Republic.

Apart from the hotels and resorts being built, there is a rapid growth with residential development. There are more apartments and condominiums being built in the city of Santo Domingo and the smaller city of Santiago. The larger residential homes are being built in the outer areas such as La Romana and Bani. The homes that are built are being bought by outside investors that have money to buy in these upscale areas. Such clients are celebrities such as Julio Iglesias. He bought his home back in 2011. There are European based real estate investment companies that have opened offices in the Dominican Republic. They offer exclusive properties for sale that are newly constructed.

There is also construction of commercial real estate as well; there is construction of office buildings, clinics, outlet malls, restaurants. There is an increase with American themed restaurants in the city of Santo Domingo. From Pinkberry to Applebee’s, they have most of the American chain restaurants. This also boosts the economy in the country because it generates jobs for the natives that live in the country. There is such potential for growth in this Caribbean Country.