Source: www.edition.cnn.com

Now, a new vineyard and real estate development is looking to tap into this wine-making history by providing the Caribbean’s 21st-century own take on enotourism. The Ocoa Bay development lies 90-minutes drive from the capital, Santo Domingo, and offers newly built homes with specially designed vineyard plots that allow residents to produce their own wine. Spectacular ocean views and a climate similar to the Mediterranean in summer ensure the 2 million square meter site is a popular spot.

Yet, according to architect Gabriel Acevedo, convincing colleagues and other stakeholders of the area’s potential as a property development come vineyard was initially a tough sell. “We were labeled as crazy — probably because I wasn’t an agronomist but an architect — that we even dared to plant 10,000 square meters of grapevines,” Acevedo said.

Sustainability is a key factor in Ocoa Bay’s business portfolio — one Acevedo believes to be a game changer for the Dominican Republic. Project leaders say they spent time with ecology, land management and wildlife consultants before commencing building work in an effort to minimize any negative environmental impacts. “Ocoa Bay has three pillars, one is the production of high quality wine and fruit cultivation, the others are the hotels and the real estate sector,” Acevedo said.

Developers are relying on the lands’ unique dry climate which receives on average of 600 millimeters of rainfall per year to sustain the vineyard. The construction of the first 30 ecological and vineyard villas are scheduled to begin in December with 33% pre-sold. High-end real estate companies like Christie’s, meanwhile, are already adding Ocoa Bay to their exclusive listings.

The vineyard’s real estate adviser, Cesar Herrera insists that enabling investors to snap up a private property where they can produce their own wine is a unique selling point. “You don’t have anywhere in the world (that has) the possibility to live inside a vineyard and to own,” Herrera said. “You have several options (of growing grapes) … (and) you will be able to rent your home when you are not there,” Herrera added.

In just over two years, Ocoa Bay has had five successful harvests. Volumes produced remain low, but quality is high. The price per bottle starts at $15 dollars, setting the bar high for a still young wine producing market.

The Ocoa Bay executive team say they’re optimistic about the overall success of this venture. “It’s the new, Napa Valley of the Caribbean,” Acevedo said. “The new Bordeaux or Rioja. A unique and new destination in the Caribbean.”

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Source: Canadian Real Estate Magazine

Colleen Valerio, head of sales and marketing for DR Properties, explains why Canadian investors should consider investing in the Dominican Republic.

Q: Why is the Dominican Republic a great place to invest right now?

A: It’s not just about investments for our clients. It’s mostly people who want to get into a future retirement place that’s out of the cold. They choose the Dominican Republic because we have a stable government, a large Canadian community, great infrastructure, and lots of good services. The other reason they choose this area is because we have a big tourist market.

Q: What has attracted Canadian investors to the Dominican Republic?

A: On the investment side, certainly rental returns. Most developments usually average a 70 per cent occupancy rate over the course of a year. So for our clients, who are still working, they’re living in these properties for two weeks to a couple of months a year, and the rest of the time, they’re watching it earn some money.

Q: What are the average property prices and rents in the Dominican Republic?

A: You can spend anywhere from $70,000 up to $10 million. Our buyers tend to be on the $200,000 to $400,000 range, and that will get you a very nice house in a gated subdivision. For rentals, most people rent on a short-term or nightly basis to vacationers. The rates range from $100 to $400 per night, depending on the location, type and size of property.

Q: What types of properties are the best buys?

A: Most of our buyers have been choosing single-family homes lately because they can get a good bang for their buck, and they have great rental returns. In terms of condos, anything on the oceanfront attracts attention. If you can get it for a good price and it’s well-managed, that’s a great return and capital appreciation.

Q: What are some the best areas for investing in the Dominican Republic?

A: We tend to focus on the Cabarete area for a few reasons: there is a great community there and infrastructure that supports real life. If you’re looking for investments, a lot of people will look at Punta Cana, but there is no infrastructure there.

Q: How has the country performed amongst baby boomers and retirees?

A: Our average buyer is between 45 and 65. Most people want to use the property themselves, as well as have it as an investment.

Economic outlook
The Dominican Republic is economically sound. According to the IMF, its GDP is expected to jump sharply, from 2.2 per cent in 2013 to another 3.4 per cent in 2014.

This article was first published in the October 2013 issue of CREW magazine.

Source: DR1 Travel News

Despite a series of snowstorms that have caused travel plan cancellations, travel to the Dominican Republic continues to grow. The Central Bank of the Dominican Republic reports that 33,833 more non-resident travelers entered the country in January 2015 compared to January 2014. Of this total 23,376 were foreigners (up 6.2%), while 8,457 were Dominican expats, or 22% more.
The Central Bank says that 96.5% of the travelers visited for recreation, 1.7% to see friends and family and 1.2% for business. 95.5% of them stayed at hotels. 57.2% were in the 21-49 age bracket, with an almost equal split of 50.5% female and 49.5% male visitors.
The Central Bank says that the average 10% growth the country has experienced over the past 16 months is explained by the recovery in the US market, the main source for travel to the Dominican Republic. Tourists from the United States prefer traveling to the Dominican Republic in the Caribbean.
Total number of arrivals at the eight international airports was 536,234 visitors, including Dominicans and foreigners.
Tourist arrivals were mainly from the United States, Canada and Mexico (57%), followed by Europe (27.6%) and South America (12.8%).
In January, 20,682 more travelers arrived from the United States. There were also increases from Brazil (4,777 more), Venezuela (3,448), Germany (3,280), UK (3,054), Spain (2,532), Colombia (1,518), Sweden (1,130), Chile (904), France (860) and Italy (858).
Only travel from Russia was down by 0.9%. There were 12,226 fewer Russian travelers in January, reflecting the recent downturn of the Russian economy.
This was compensated by increases in visitors from Germany (15.4%), UK (39.2%), Spain (27.8%), France (3%), Italy (8.9%) and Sweden (34.9%).

Source: Edmonton Journal, Business section, February 11, 2015

San Juan, Puerto Rico

Officials say a record 26.3 million people travelled to the Caribbean last year and spent an unprecedented amount of money in what is considered the world’s most tourism-dependent region.

It is the fifth consecutive year that the Caribbean reports an increase in tourists following an economic crisis that forced resorts to shut down and caused a drop in visitors and spending. The Caribbean Tourism Organization on Tuesday attributed the increase in part to improvements in airports, the opening of new hotel chains and an increase in direct flights and airline seat capacity.

The Dominican Republic, Cuba, Jamaica and Aruba are among the larger destinations that saw an individual record number of visitors.

Tourists overall spent more than $29 billion US in the region last year.

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Source: DR1 Travel News, Pro Cigar

A great opportunity to get an insider view of the best of the Dominican cigar industry, during the Pro Cigar Festival 2015 local cigar manufacturers once again open their doors to tourists from around the world. This year’s event takes place from 15-20 February with trips to the Tabacalera de Garcia installations in La Romana and also to General Cigar, Davidoff, Quesada Cigars, La Aurora, Corporacion Cigar Export, Tabacalera La Alianza-EP Carrillo, La Flor Dominicana, Tabacalera Palma and the Cigar Family Charitable Foundation.
Gala dinners ending with the best premium smokes are planned for the evenings. The event promises to be both a learning experience and a treat for cigar smokers.

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Source: DR1 Travel News

Every Sunday in February is time for carnival. The most famous Dominican carnival celebrations take place in La Vega (with the traditional diablo cojuelo characters), Bonao (macaraos), and Santiago (lechones). In Puerto Plata there is also a carnival at the Central Park where the traditional carnival character is the “taimascaro.”
The National Carnival Parade then takes place in Santo Domingo on Sunday, 1 March 2015 and on 7 March 2015 in Punta Cana. In both locations a selection of the best carnival troupes from all over the country will be taking part.

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