Steven Ankrom with Captiva by Cana Rock strengthens Real Estate Tourism and Development in Dominican Republic

In an interview with Mr. Steven Ankrom, he tells us that real estate tourism is booming in the country taking more and more precise and strong steps with the innovation of projects that will give an important boost to the sector.
As is the case with Captiva by Cana Rock, promoted by Ankrom Group and Cana Rock, who are building the largest and most important luxury Hotel Condo in the DR.

The vision of the project is to create and enhance the luxury niche in the market, which is tailored to the needs of a more demanding customer who chooses to enjoy a differentiating concept.

This was explained by Steven Ankrom, president of Ankrom Group, to arecoa.com, where he also said that the intention is for Captiva to start changing people’s mentality about the tourist use of the apartments.

“Acquiring a property does not mean that it is only to place it in the rental program, it is more than that, it must be an apartment that the same client wants to use for much longer during their stay at the destination,” he added.

He said that the project, of 150 apartments, which they develop with care is carried out under four fundamental points: 1-luxury, 2-longer use of its owner, 3-as a financial instrument through the rental program and 4- raise to Cana Bay at a higher level compared to its competitors.

“We are in the search that both the local and the tourist who acquires an apartment do so because they feel identified to use it as long as possible and then use it as an instrument of return of 8 to 10% of annual income like many other projects of the area they are doing today ”, he explained

Ankrom, senior executive experienced in real estate tourism projects, said he feels he is a promoter of this segment of tourism that over time has developed greatly in the East and has also extended to other regions, because he understands that it gives more benefits to the sector

In that sense, he explained that the benefits of a project like Captiva creates an economic spill in other sectors. “There are 150 apartments that need to be equipped with appliances and other amenities that are mostly purchased in local stores, which generates dynamism in the economy.”

Acquiring
The president of Ankrom Group said that in recent years in Bavaro-Punta Cana the acquisition of real estate projects has changed, giving way to a more local than foreign consumerism.

“Before the local purchase represented 10 or 15% and the international purchase between 70 and 90% international, until the new highway was made given greater ease and access to the area; With this there is already an equality of 50 \ 50, in the projects of Cana Rock, he said.

Ankrom explained that the international markets that consume the most real estate tourism are: Canada, Miami, New York, Chicago, Boston, Toronto and Montreal; While the country has a smaller market from Europe, Venezuela, that is, 80% of the United States and 20% is a mixture of South America and Europe.

Cost and design
The apartments, consisting of 1, 2, and 3 rooms will be designed with a modern redefined luxury that will make a difference with an elegant and sophisticated architectural concept, with ample space and atmosphere to create the best experience.

As a Condo Hotel, Captiva will belong to individual investors, so that each property will be a functional unit of which its owner will own a title deed.

The project is expected to be ready in 24 months, and will cost 300 to 450 thousand dollars, Ankrom said.

“So far all the condo hotel projects that have been done in the Cana Bay area are smaller and simpler, and in turn are sold between 80, 100, 150 and 200 thousand dollars; our project is more ambitious, ”he added.

August 15, 2019 By Andreina Germán |
https://www.arecoa.com/hoteles/2019/08/15/proyecto-captiva-by-cana-rock-fortalece-turismo-inmobiliario-dominicana/

Steven Ankrom – Hunting a Second Home

So you have decided that you can economically afford a vacation or second home for you and your family. And now that? The world is a very big place. If you buy here in the country, how far will you be from your primary residence? What about your friends who have homes in Miami, New York or Madrid? What is really the best option for you?

When the time comes to purchase a second home, there are factors that help make a better selection such as your budget and your purpose. In other words, is it a vacation or investment property?

First let’s talk about vacation ownership. Do you need this house or condominium to be close, to be able to visit it every weekend or take extended vacations? You must answer this question to decide if you need something close in the country, in places like Juan Dolio, La Romana or in Punta Cana or Las Terrenas.

How long do you like to drive, an hour or two? The reality is that with all the new roads you can now reach most of the great places in less than two hours. But perhaps you are the type of person who prefers to take time off in Miami or elsewhere in the world. How many times a year can you go? The location also includes what the surroundings are, do you like the beach, the golf course, the mountains? What kind of lifestyle do you want? Do you need many restaurants and bars in the area for entertainment? o Does your family want to enjoy cooking at home? All of the above answers will help you decide the location of your second home.

The reality is that a second home is really something personal and there are so many destinations in this country and abroad that the options are unlimited. However, there are many things to keep in mind. This is not a complete list, but it should help make a great choice for your family, apart from the aforementioned location:

  • Safety and quality of public services should be considered.
  • Frequency of the visit: How many times a month or a year do you want it and can you really visit?
  • Construction quality: very important to take into account the purchase price
  • Budget
  • Purchase price.
  • Condo and maintenance fees: If your second home is part of a complex you should make sure to include condominium and maintenance expenses in your budget.
  • Costs of electrical and general public services.
  • Property taxes: what kind of taxes have to be paid to the government
  • Any remodeling that needs to be done if the property is not new.
  • Return on investment: if you need to sell quickly or rent your home for income, how is the market in the chosen area?

Published in Forbes Magazine, from the Steven Ankrom Archives.
Photo By Alberto Castillo, Unsplash