May 30, 2008 -- Property development is booming in the Dominican Republic, but there are many non-nationals excluded from investing because they cannot raise a mortgage.  Caribbeanlandandproperty.com is now offering mortgages to qualified offshore buyers up to a maximum of 75% of the property value.

There are no restrictions for foreigners buying property in the Dominican Republic but typically mortgages have been very difficult for foreign buyers to obtain. Although government incentives have proved very positive for attracting overseas investments, the mortgages available through local lending institutions are extremely expensive. Mortgages from Caribbean Land and Property, solve this problem and make it easier for those wishing to buy the home of their dreams in Dominican Republic.

The new mortgage facility which is available to resident aliens, UK, Canadian and US Citizens, will provide borrowers with mortgages for properties over US$100,000 to cover the purchase of land or an existing home.

The Dominican Republic is becoming increasingly popular as a place for relocation or a second home. There are direct and regular flights to and from many destinations in Europe and North, Central and South America. Santo Domingo is accessible by air from New York (3 hours), Miami (less than 2 hours) and San Juan (45 minutes), with direct flights available from several major cities in Europe. Not surprisingly Dominican Republic has attracted a cosmopolitan community of expatriates who add to its already diverse population.

About Caribbean Land and Property

Caribbean Land and Property are a leading online real estate resource with properties in 26 Caribbean countries. See www.caribbeanlandandproperty.com for further details.