Dominican Republic Property Investment Opportunities. Real Estate Dominican Republic.

£84,000 / $166,000 *

New Developments in Dominican Republic

The Dominican Republic, on the eastern half of the Caribbean island of Hispaniola, has a diverse terrain of semi-desert plains, lush green valleys, tropical rain forests and many mountain ranges – the Cordillera Central is the highest on the whole island, including Pico Duarte, the highest mountain in the Caribbean (over 10,000 feet), which can be covered with thick snow in the winter season. The country is described as the adventure capital of the Caribbean, offering over 3½ million tourists wakeboarding, surfing, waterskiing, scuba diving and whale watching from its beautiful sandy beaches, as well as paragliding, golf, riding, mountain biking and safaris inland. There are no large wild animals (apart from in Lake Enriquillo in the southwest the only salt water lake in the world inhabited by crocodiles), no poisonous snakes or spiders and no dangerous insects. Its climate is tropical but cooler at the coasts or in the mountains, with a rainy season for half the year.

It is a developing country about twice the size of Wales surrounded on its three sides by warm, turquoise ocean waters, and plentifully supplied with freshwater rivers and lakes and the fertile Cibao valley that drew Christopher Columbus and the Spaniards like a magnet to the goldmines. The Pueblo Viejo here is the world's largest open-pit gold mine and the Canadian company, Falconbridge, mines nickel ore and operates a large melting plant. Concessions to explore for oil have also been granted. Mining is in first place in terms of export earnings, followed by the growing of sugar, coffee, cocoa and tobacco, although tourism is one of the leading employers of the population and accounts for more than $US3½ billion in annual earnings for the country, 24% of GDP.

The population of nearly nine million is mainly of mixed European, African and indigenous American race and is centred mainly in the capital, Santo Domingo (the oldest city in the New World, where the settlement of all the Americas began, just three hours by air from New York and accessible from several major cities in Europe) and Santiago de los Caballeros, the second largest city. The culture reflects this mix, particularly in the music and carnival, and baseball is also big here – with its own baseball league. Popular food includes rice and beans with chicken or meat, tropical fruits and spices and the best-known music and dance is Merengue, meaning meringue!

The republic is a presidential representative democracy, the main parties being the Dominican Liberation Party (PLD), the Dominican Revolutionary Party (PRD) and the Social Christian Reformist Party (PRSC). There is an independent judiciary and the administration is divided into thirty-one provinces, which in turn are divided into municipalities.

• Official Language: Spanish
• Currency: Dominican Peso
• View Dominican Republic on the World Map

New Developments in Dominican Republic

Dominican Republic Property     * currency exchange rates subject to fluctuation.