EXPERTS VALUED GOVERNMENT AND BANKS MEASURES POSITIVE TO ENHANCEMENT OF REAL ESTATE MARKET IN DOMINICAN REPUBLIC Economic and political conditions are working together for a revitalization of the Dominican Republic real estate market. Competitive interest rates, moderation in prices and recent changes in the legal framework are some of the aspects that contribute to the revival of the real estate sector. On August 2014, the Constitutional Court (TC) declared unenforceable Article 3 of Decree No. 4807 of 16 May 1959 on Control of Rent and Evictions, prohibiting the expulsion of tenants unless has ordered the cancellation of the contract for non-payment, to use the rented property for a different purpose (whenever detrimental to the owner or contrary to public policy or morality), by sublet all or part of the property, among other reasons. Thus giving homeowners the power to conclude rental agreements to the expiration date, if deemed appropriate. Another circumstance that has boosted the sector is that investors and builders have decided to venture into economic projects and banks are offering competitive interest rates for the real estate market. We are seeing interest rates of around 7% to 8% for all types of properties and everything kind of price. Contact us for information about our apartments in the Cocotal Golf & Country Club, a residential resort located in Playas de Bávaro - Punta Cana, Dominican Republic.
PUNTA CANA | Public Works Minister, Gonzalo Castillo, left Saturday started work on the construction of several highways and restarting the Tourist Boulevard East, for finalization, noting that this action demonstrates the priority the government being given to tourism in the Dominican Republic. For the start of major roadworks, Castillo broke ground in a ceremony held on the road Arena Gorda, Bavaro and Punta Cana, along with tourism entrepreneurs, executives of RIZEK and Odebrecht construction, as well as officials and authorities the province. He said that the road works whose construction works were implemented are the Ring of San Pedro de Macoris (17 km) , which will have four lanes and were built three distribution as well as the road between this city with La Romana (22 km) . Work will also be restarted to complete the Beltway La Romana (15 km), the Tourist Boulevard East (30 km) road Macao- Miches - Sabana de la Mar (110 km) . Castillo said that with the exception of the latter route , the above will be finished by December 20 next year, when you start the tourism season . He said that these road infrastructure " motivate new investments for the construction of hotel rooms will be needed to accommodate the 10 million tourists that is the goal to which it aspires President Medina to visit us every year , and that they stay with desire return back to the country. " The owner of Public Works explained that the start and restart of the works carried out following a value engineering process thereof, and have reached an agreement with the contractor Odebrecht , in every detail . "With this step, the President of the Republic, Danilo [...]
The North Ring Avenue of Santiago de los Caballeros that is being building by the Ministry of Public Works ( MOPC ) will be open on February 21 next year (2014 ), not in May as planned. This was informed the Minister of Public Works and Communications, Gonzalo Castillo, who has made his second visit and supervision to the construction of the road, where he observed the pace of the work . There the official explanations received from executives Ecovías Consortium, which integrate companies Odebrecht and Constructora Estrella, on the progress of the work, who also explained that there was a variation on the original route of the road , which will contribute to these tasks are accomplished in less time. The owner of MOPC said : ¨We are holding meetings with both teams to see how they work schedule shortened in a few weeks , so that instead of May, ¨ is delivered in February . Castillo said he had instructions from the President Danilo Medina to schedule the work of the important route is shortened and can be completed before the date originally scheduled . He said the teams work 24 hours to comply with the new work schedule from today implemented to meet the goal of delivering the North Ring Avenue in February.