Dominican Republic hopes to boost rental yields as it increases beach appeal
Dominican Republic hopes to boost rental yields as it increases beach appeal
The Dominican Republic is heavily investing in improving its beaches to boost the Caribbean island's attraction for tourists. The initiative is part of a wider plan to increase tourism and rental yields for owners of holiday villas in the Dominican Republic.
Tourism officials are spending $25m on improving seven beaches in the
Dominican Republic. This includes importing 1.4m cubic metres of sand and knocking down buildings thought to be damaging the coastal environment, reports Property Wire. The aim is to encourage more people to holiday on the
Caribbean island and further push up rental yields for
holiday home owners in the Dominican Republic.
"We want to guarantee excellent conditions and develop our tourism industry further," a spokesman from the Tourism Ministry said. Many new developments are currently underway, such as golf courses and spas, the spokesman added. These are being funded with investment from several countries, including
Mexico and the
US.
Other projects are also under consideration; the possible construction of a cable car to Jarabacoa and Santiago is one development being looked at.
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24 July 2008
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