Jarabacoa’s real estate tourism soars to US$90.0M yearly
JARABACOA, Dominican Republic.- In this town pulsating at the very heart of the Central Mountains, real estate tourism surged a decade ago, moving around US$90.0 million per year, on land transactions and the construction of villas, hotels and apartments.
So what attracts investors? It’s the natural diversity of the area 530 meters above sea level, mild temperatures and an environment ideal for retirement: lush trees, rivers, waterfalls , rugged mountains and friendly residents.
Many residents say rest and relaxation, eco and even religious tourism have widened as more projects develop to meet demand.
“Everyone wants to come to Jarabacoa. Before the problem was that we didn’t have enough beds, today, with the construction of several projects, we’ve gotten people to buy their house and have it as a second home,” said Anna Fernandez, of the Jarabacoa realtors grouped in the AEIJ, quoted by hoy.com.do.
Real estate development has unleashed a cascading effect on other sectors, Fernandez said, noting that “banks are bullish on Jarabacoa and we’re seeing that all sectors want to have a presence here. If you want to invest it’s because they’re seeing growth and the ambiance in an organized manner. ”
Category: DR News |