Puerto plata popularity continues to grow
The popularity of Puerto Plata as a property hotspot continues to grow, according to TheMoveChannel.com's latest At a Glance report. The infographic, which compares the Dominican Republic property market in the past 12 months to two years ago, shows that the city is now the most sought-after location among buyers.
Puerto Plata has always been popular among overseas house-hunters, thanks to its famous beaches, such as Playa Dorada and Costa Dorada. The northern city accounted for one in four (26.5 per cent) searches on TheMoveChannel.com for Dominican Republic property during the 12 months to September 2013. During the same period two years later, the city now makes up more than one in three (36.6 per cent), overtaking former number one Cabarete to become the most searched-for place in the country.
Las Terrenas also climbed the charts from third place to second, even though its share of searches declined from 11.8 per cent in 2013 to 10.7 per cent. Demand for property in Jarabacoa has jumped in the past two years too, climbing from sixth place (3.7 per cent of searches) to third (8.7 per cent).
La Isabela and El Batey have emerged as the newest hotspots among international buyers, attracting almost no searches in 2013 but rising to becoming the fifth and sixth most looked-for locations between 2014 and 2015. Searches for property in Juan Dolio, Pantanal, Barahona and Samana, on the other hand, have all fallen in the past two years.
Puerto Plata's dominance, though, extends beyond the city's walls: the province was home to five of the top 10 most searched-for places on the portal. Buyers are serious about buying there too: Puerto Plata also accounted for over half of all Dominican Republic enquiries on TheMoveChannel.com (56.1 per cent). While this is down from 76.9 per cent in the 12 months to September 2013, buyers have become more focused in their interests: two years ago, enquiries were scattered all over the Dominican Republic, but in 2015, just four provinces attracted enquiries on TheMoveChannel.com.
As a result, Samana has surged in popularity, with demand for property in the area (largely fuelled by Las Terrenas) increasing its share of enquiries from 1.5 per cent to a 24.4 per cent. La Vega (12.2 per cent) and La Romana (7.3 per cent) were the third and fourth most popular regions between September 2014 and August 2015.
The At a Glance infographic also charts buyer activity on Google relating to Dominican Republic real estate. Searches for "property in Dominican Republic" have declined over the past two years, although searches for "Dominican Republic property" have risen slightly. "Houses for sale in Dominican Republic" is now the most commonly used keyword when searching for real estate in the country, but it has also seen usage decline compared to 2013. Searches for villas and apartments in the market remain steady.
TheMoveChannel.com Director Dan Johnson comments: "Puerto Plata has long been the shining hotspot in the Dominican Republic, but the city and the province are both extending their dominance: buyers love the idea of a home in the area's luxurious beaches, but are largely uninterested in the rest of the country.
"Over the past couple of years, though, the Dominican Republic has fallen out of favour among investors on TheMoveChannel.com. Enquiries peaked in 2013, when they quadrupled year-on-year from 2012, but have dipped since. Against a backdrop of decreasing demand, Puerto Plata has emerged as a key driver of activity in the country's property market, as investors narrow their focus onto both a particular area and property type. While interest in the Caribbean has increased during the same time period, it has largely been centred upon destination such as St. Kitts & Nevis, thanks to the nation's attractive citizenship by investment scheme."
Notes to Editors
About Lead Galaxy and TheMoveChannel.com
Founded in 1999, www.TheMoveChannel.com is the leading independent website for international property, with more than 800,000 listings in over 100 countries around the world, marketed on behalf of agents, developers and private owners.
TheMoveChannel.com is one of more than a dozen international property sites operated under the Lead Galaxy brand. Lead Galaxy provides online marketing solutions to thousands of property companies worldwide, focusing on portal listings, email marketing, qualified leads, paid search and social media advertising.
The business is headquartered at 24 Jack’s Place, Corbet Place, Shoreditch, London, E1 6NN.
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