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However, “the market is still outperforming pre-pandemic levels,” says NAR Chief Economist Lawrence Yun. Get insights from the association’s latest housing report.
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Another Caribbean island has launched a program for remote workers: the Nature Island of Dominica.
The new Work in Nature program offers the chance for approved visitors to stay for up to 18 months on the island.
The program is also a bit broader than most in the region, allowing remote workers, digital nomads, academics, families and people on sabbaticals.
The program also has some extra incentives, such as duty-free on certain items and discounts from various service providers on the island.
The Rosalie Bay hotel in Dominica.
Dominica officials say that, as the program grows in popularity, the island envisions a “WIN Village,” a remote worker community that would include various types of accommodation, support services, shared social and entertainment spaces and co-working spaces.
The cost of the visa is $800 for individuals and $1200 for families, with a typical response time of seven days (and a three-month grace period in which to relocate to Dominica).
The sky hot tub at the Fort Young, one of the property’s signature amenities.
“This is one of the initiatives which will help boost our tourism industry in our phased tourism recovery approach, while providing a safe environment for persons to work remotely in a tropical environment,” said Dominica Tourism Minister Denise Charles. “Stakeholders and island partners have all collaborated to provide an attractive program which will assist with economic recovery. This is your opportunity to discover the many wonders of Nature’s Isle.”
A new residential resort has opened its doors in the Cap Cana area of Punta Cana in the Dominican Republic, Caribbean Journal Invest has learned.
It’s called Il Lago Beach and Golf, and it’s a residential hotel developed with an initial investment of $25 million.
Dominican Republic President Luis Abinader was on hand for the inauguration of the complex, joined by executives of Remix Consortium, which is behind the project.
What a unit looks like.
The project, which in close proximity to Juanillo Beach, includes access to the Jack Nicklaus-designed Punta Espada Golf Club.