Powder white beaches and turquoise waters are a dime a dozen in the Caribbean — but how many places offer direct flights from New York, Paris and Buenos Aires and title to property? The easy access and flurry of development in the Dominican Republic are attracting a dazzling mix of investors, who are snatching up oceanfront and golf course properties before they're even built. These buyers aren't looking for a strong sense of place: holiday homes are predominantly within gated resorts that function much like mini municipalities. But as the government constructs highways to link the major resorts—Cap Cana, Casa de Campo and Puntacana—with the capital, Santo Domingo, real estate values across the country are heading north.
Besides the established resorts, where high-end developments are constantly being built, a few new players have entered the game. The luxury Westin Roco Ki Beach & Golf Resort is scheduled to debut by May, and Playa Grande, a private colony dreamed up by New York money manager Boykin Curry, is set to break ground soon. But unless you're one of the latter's thirty founding members, you won't be able to stay the night until a hoped-for Amanresorts boutique hotel opens in 2009. Until then, here are the best places to own a piece of paradise.
Cap Cana
Contact: Mariana Sanz, 809-669-3087 or 809-732-3447; m.sanz@capcana.com.
Cap Cana is an ambitious $1.5 billion project, with phase one set for completion in fifteen years. This first offering will encompass 8,680 acres and is expected to include three hotels, three Jack Nicklaus Signature golf courses, eight restaurants and the largest inland marina in the Caribbean. When it's all done, there will likely be 5,000 residential units and 500 hotel rooms. 800-785-2198; capcana.com.
Lay of the Land: The 30,000-acre compound is a ten-minute drive on a new highway from Punta Cana Airport. A beach and golf club, each with a restaurant, as well as fifty-eight beachfront lots and 294 apartments, make up the resort proper. At the Trump Farallón Estates at Cap Cana, lots ranging from one and a half to six acres go for up to $17 million. In Green Village, four-bedroom units near two of the resort's golf courses are currently for sale for $1.8 million.
Where to Stay: The Villas Caleton, near the beach club, is ideal for families. Each of the sixteen villas has three to four bedrooms, a private pool and twenty-four-hour room service. Villas start at $1,700 a night.
Where to Eat: A temporary, palapa-style restaurant at Farallón, known simply as the sushi place, sits on a sea-view cliff above the resort. Arrive by car, and order the peppered tuna.
What to Do: At Cap Cana, Jack Nicklaus was given free rein to design the property's three golf courses. The initial phase of the marina opened in April with an Italian restaurant, a jewelry store, an ice cream shop and fifty-eight slips.
Casa de Campo
Contact: Ariadna Torres de Elmudesi, 809-523-8129; a.torres@costasur.com.do.
A classic, all-inclusive family resort that opened in 1974, Casa de Campo attracts a variety of holidaymakers and homeowners, among them European clans who used to vacation on St. Bart's, along with prominent Dominican society fixtures. 809-523-3333; casadecampo.com.do.
Lay of the Land: The resort's latest additions include just-opened dining and nightlife options at the Altos de Chavon village and private Minitas Beach. The sprawling property has vacation houses in an array of styles, communities and prices. Homes in the new Minitas Beach neighborhood begin at $5 million; ocean-view lots in the recently debuted Rio Mar are priced between $3 million and $6 million; and luxury apartments under construction on a bluff near Altos de Chavon will begin at $500,000.
Where to Stay: Book one of the oceanfront Exclusive Villas; they come with marble baths and fine linens, and some even have private playgrounds, home theaters and gazebos. A three-bedroom goes for upwards of $4,100.
Where to Eat: Reserve one of the six beachfront gazebos at El Pescador (809-523-3333, ext. 5146); the Mediterranean menu, created by chef Pierre Schaedelin (formerly of New York's Le Cirque), was inspired by local ingredients (lobster, red snapper in coconut sauce, passion-fruit ice cream).
What to do: Charter a yacht and sail on the tranquil water. Or enroll your family in a sailing course at the Casa de Campo marina; a six-day class costs $360. Half-day rentals are $600 to $1,600. Marina Chavon; 809-523-8646.
Puntacana Resort & Club
Contact: Luis Migoya, 809-959-7325; lmigoya@puntacana.com.
The owners of Puntacana (they include Oscar de la Renta and Julio Iglesias) have invested about $400 million since 1994—and that doesn't even reflect the $200 million put into the local infrastructure, such as Punta Cana Airport, which you'll fly into. Under the supervision of co-owner Frank Rainieri Sr., the resort built a nearby village with a church, a school, affordable housing and traditional Dominican restaurants and shops, in addition to an Oscar de la Renta outpost, of course. 809-959-2262; puntacana.com .
Lay of the Land: Because of low-density development, the resort, which comprises the Puntacana and Tortuga Bay Hotels, is surrounded by mature palm trees and relative silence, making it feel like a secluded family compound. Upon arrival at Tortuga Bay, each guest gets a private golf cart, which is a smart way to navigate the pathways that connect the resort, a golf club, an eco-reserve and residential neighborhoods. The best real estate is found in Corales and Arrecife. Spanish colonial and Caribbean-style open-air homes in the gated Corales neighborhood—starting at 20,000 square feet—sold for up to $10 million. Seven-thousand- to 15,000-square-foot homes in the exclusive Arrecife neighborhood are usually bought while under construction and go for $1.7 million to $5 million. Half-acre to one-and-a-half-acre lots in Arrecife sell for $1.3 million to $2.6 million.
Where to Stay: Overlooking a pristine, private quarter-mile beach, Tortuga Bay Hotel's fifteen sun-yellow villas have breezy Caribbean-style interiors designed by Oscar de la Renta. Ocean-view villas start at $610 a night.
Where to Eat: If you feel like escaping from the resort, take one of the complimentary shuttles to Restaurante Portugal (809-959-3008), in the nearby village, where Manuela Marque warmly tends to guests while her husband, Victor Silva, prepares traditional Portuguese casseroles.
What to Do: The unspoiled beach is ripe for horizon gazing. Or choose between La Cana Golf Course and the Tom Fazio–designed Corales course for a round of golf. Greens fees are $130 for eighteen holes ($110 for hotel guests, $80 for members).
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