To the delight of business owners and residents, the beautification and modernization of Santo Domingo’s Colonial Zone is briskly moving forward. Both the Dominican government and private investors are pouring money into improving the appearance and the infrastructure of the Colonial Zone.
Much of the private sector progress is being spearheaded by the Vicini family. They are restoring numerous Spanish Colonial-era buildings as part of a multi-site, luxury boutique hotel network called Casas del XVI, which is affiliated with the prestigious Small Luxury Hotels of the World.
Many more hotels, including the brand new Hotel Bellini, as well as other businesses are opening at a rapid pace. The increase in Colonial Zone tourism is partially responsible, but there has also been a noticeable influx of Europeans and Americans living and working in this neighborhood.
The vibrant art scene, great restaurants and lively nightlife set among the gorgeous Colonial architecture is proving to be an irresistible attraction for people who love culture and history.
The ongoing renovations have also spurred the real estate market in the Colonial Zone. Businesses, home seekers and investors have taken great interest in the area. In fact, real estate investment in the Colonial Zone has increased dramatically in the past months.
Really, where else in the world can you buy a 400 m2 Spanish Colonial courtyard home in the $300,000 range? Of course, most of the properties require work, but there are experienced teams of workers in the Colonial Zone who can handle such projects quickly and at a reasonable price.
What is available now?
Here is one Colonial Zone real estate offering from The Dominican Group:
Side-by-side buildings in the prime Colonial Zone area for $500,000! This includes one 450 m2 three story building plus a small Colonial house on 550 m2 of land. Ideal for flipping after improvements, combining both properties to make a boutique hotel or a small condo/apartment complex or maybe just one luxury residence with a pool and garden. Find out more here.
With the backing of the Dominican government and the private money of international and local investors, the Colonial Zone is slated to be the premier historic city in the Caribbean. So, watch out Cartagena and Old St. Juan… Santo Domingo’s Colonial Zone is on the way up!
