Fly to Let investors who have purchased, or are looking to buy in the Dominican Republic, could benefit from a railway linking Santiago and Santo Domingo which is expected to significantly boost the country’s development.

The link would be part of a 3.7 billion Euros that may be invested into the tourism industry in the next four years.

Dominican President Leonel Ferandez has announced that the railway is the brainchild of a business group from the Balearic islands, which has already invested heavily in the island.

The Dominican Republic has also recently seen a quasi-donation of $30 million for the reconstruction of highways granted by the OPEC Fund for International Development; the announcement of a number of new Aero Caribbean flights likely to attract multi-destination tourists; and has accepted plans for the construction of a ferry terminal costing $10 million at the Sans Souci tourist port.

Such plans are yet another boost for a country where tourism accounts for 24 percent of GDP and is fuelling economic growth. The contribution of tourism to employment is now expected to rise from 555,000 jobs in 2008 to 743,000 jobs by 2018.

By 2012, it is forecasted that the Dominican Republic will receive five million annual visitors, a one million increase over expected 2008 visitor totals.

According to a recent report by the Dominican Republic Ministry of Tourism, tourist arrivals for the first quarter of 2008 have already increased by 8 percent compared to the first quarter of 2007.

Over 15 percent of these arrivals arrived at Puerto Plata on the North Coast. The airport is 10 minutes away from Sosua Plaza studio apartments which are being marketed in the UK by David Stanley Redfern Ltd.

The properties, situated five minutes walk from Sosua Beach, are all equipped with kitchenette, air-conditioning, ceiling fan, phone, and cable TV, security locks, electronic room safety deposit box and a balcony overlooking the pool.

Apartments come fully furnished and fully managed, offering tax free returns and no work for the owner. Occupancy rates are consistently higher than 74 percent, yet the price is one of the lowest in the Caribbean at £24,000.

With Dominican Republic’s huge tourist numbers rental yields of 10 percent can be expected, while the property has the potential of 10-20 percent capital appreciation.

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