More young people entering the tourism real estate business
For real estate specialist Gisselle Ventura, a future investment that is attracting many young Dominicans is real estate properties for rent on platforms such as AIRBNB.
According to Ventura, this niche is being encouraged to invest in the local tourism sector by the double condition it generates. Beyond making an economic benefit through the rent on digital platforms, it also serves as a second home in a tourist area for family enjoyment.
According to the expert, the market has become much more dynamic today in relation to past years, where cycles of the low, medium, and high seasons were seen in people renting their tourist properties on digital platforms. “However, this last year has always been high season,” she stresses.
Ventura points out that these properties published on digital platforms have an added value: it motivates people to leave the house or apartment and get to know the town’s attractions. It also represents an opportunity for nearby restaurants and businesses and generates indirect jobs.
“It is incredible what is happening in areas like Punta Cana, Bayahibe and Las Terrenas, where you go to look for apartments that are rented on these platforms with two and three months of occupation in advance and they are already sold out. It is good that this is also happening in Puerto Plata, an area that is having a great local and international boom,” says Ventura, who is also CEO of the agency Oferta Inmobiliaria RD.
Regarding the tax regulation for rentals on digital platforms such as AIRBNB, Ventura expresses that these actions demonstrate the strength this type of tourism real estate business has gained.
In addition, she states that with greater regulation, there will be a validation that users are renting a property with all the conditions that guarantee that quality is offered to tourists.
“This will serve as a filter for investors to provide higher service levels to tourists.
We see this as very positive. On the investor’s side, as long as it is the same for everyone, it will not affect them. AIRBNB handles about 70% of the apartments that are as rooms on the platform; as long as all are regulated, it does not have to hurt,” says Ventura.
Real estate fairs
Given the boom that are having rentals by certified digital platforms, Oferta Inmobiliaria, the agency that Ventura runs, is organizing fairs for more young people and interested people to select the house, villa, or apartment that will serve them to start in the tourism investment.
The most recent fair organized by Oferta Inmobiliaria was held between August 19 and 21 in Punta Cana, which represented an opportunity to mobilize foreign capital in the local tourism sector, with the participation of about 28 construction companies with 40 projects.
Ventura points out that 95% of the clients at these meetings are people residing abroad, from the United States, Canada, and Puerto Rico, a very assiduous public to buy the properties offered. The 5% are Dominicans residing in the country or abroad.
“At Expo Inversiones Punta Cana 2022, there were very happy faces. We were refunding the cost of flights to those who came from abroad as long as they did not exceed US$1,500 and to those who did not have time to come, we give them the facility to do it later. We broke records with this fair. Next year we will come back with a bigger fair,” she said.