A Nigerian actual property consultancy agency, Overland Properties Restricted, has introduced plans to supply actual property funding and residency for Nigerians fascinated with transferring to the Dominican Republic.
Managing Director, Overland Properties, Adebiyi Modile, who spoke at a gathering with stakeholders in Lagos, stated the agency has entered into partnership with a Dominican-based agency, Punta Cana DineCaribe Realty (Punta Cana DC) to help Nigerians settle in that nation.
On the advantages of investing within the Caribean nation, Modile stated: “For those who purchase a four-bedroom duplex in Lekki as an example, it’s going to value you about N250 million and the return on funding for a rental is N7 million yearly. Which means you’re making lower than $10,000 for an funding of N250 million.
“With N250 million, you should purchase nearly 5 properties in Punta Cana, and the return on every property there’s $10,000 yearly after tax. The place would you somewhat put money into?
Principal Companion of Aftermath Solicitors, Mr. Tunde Koya, stated: “These alternatives supply freehold titles with safe and assured returns of funding. Moreso, as a result of it provides nice tourism potentials, this provides an enormous attraction for buyers from throughout the globe.
“The Caribbean nation provides good tax incentives not solely as an actual property funding portfolio but in addition for potential company our bodies, who want to give their enterprise a worldwide flavour. The Dominican Republic is a superb place to construct credible wealth.
A consultant of Punta Cana DC, Mr. Liemier Laba, highlighted the advantages of investing within the nation.
“The nation provides high quality medical services, nice nightlife, most safety, lovely seashores, sunny climate and decrease rates of interest.
“For those who purchase a property within the Dominican Republic, you personal it endlessly. The annual property tax is one per cent.
“For those who purchase a property, in 15 to twenty days you’ll have a title of possession of the property,” Laba stated. A property developer within the Dominican Republic, Mr. Isaac Funis, stated his agency is at the moment concerned in about 80 initiatives within the nation.
He stated: “Nigerians historically prefer to put money into U.S., UK and Dubai. We wish to current to them one thing just a little bit completely different and new.
“The Caribbean provides much more than different locations. The funding alternative in the intervening time is essentially the most engaging on the earth. That’s the way in which I see it.
“Dominican Republic is the fastest-growing financial system in Latin America in the intervening time. The expansion price is over seven per cent yearly.
“Realizing the variety of Nigerians attention-grabbing in investing in actual property, we wish to current them with this chance.”
On his half, Dominican realtor and tour information, Liemier Laba, stated that the Dominican authorities was welcoming Nigerians and different foreigners with open arms. In accordance with him, the nation has plenty of incentives that may enchantment to Nigerians.
“The federal government additionally gives a 15-year tax-free rebate for sure investments and ranks effectively on ease of doing enterprise. That is along with mortgages offered by banks at low charges for foreigners, repayable inside 10-20 years,” he stated.