Punta Cana, Dominican Republic.- While the economic landscape in the US is looking grim these days, the blue-sky view from La Costa Realty’s new headquarters in Punta Cana, Dominican Republic shines bright with promise. Demand for property is high, and sales are strong. “It’s a success story,” says owner-broker of the company.

Originally from Puerto Rico, and having done business in the US all his life but concerned about today’s plummeting economy, this Florida agent has found a silver lining. It’s taking business outside the country to the sugar-colored beaches of the Caribbean, as he’s always dreamed.

“After two years of doing so well, we’ve decided to relocate permanently. I knew my return to the Caribbean was coming,” Scott Medina says.

La Costa Destinations International Realty is a growing network of international brokers promoting Punta Cana real estate around the world. Although company staff has been in place in Punta Cana for the past two years, Medina plans to relocate there in May, finalizing the move. Until then, Medina will continue to travel and manage business from Florida with the help of his partner, Emil Montas, a current resident and native of the island.

Why Dominican Republic? Medina explains that tropical destinations are appealing to US baby boomers and European retirees. Now more than ever, baby boomers preparing for a carefree life are looking for value in their dream getaway in the tropical climates where their pensions will buy more and they may have access to services they may not necessarily have at home. High real estate taxes and a floundering US economy have many retirees from North America seeking alternatives in the international real estate market. As it turns out, Dominican

Republic is among the top ten destinations in the Caribbean, Central and South America for places to retire, along with Mexico, Costa Rica, Belize, Panama, and Brazil.

While Medina expects big bank developments that rely on large financial institutions will likely suffer, the interest of worldwide investors to participate in such highly successful resorts like Cap Cana has made it much easier for the group to negotiate new financing with other banks. For second homebuyers and retirees, Dominican

Republic has a wealth of natural resources—from beautiful beaches to pristine golf courses and breath-taking mountains—that will continue to attract a wide range of buyers.

“With every downturn, opportunity is always nearby. Terrific value can still be found in pristine Dominican Republic real estate,” says Medina. “You can still be carefree when you need to be. My dreams of returning to island life have come true!”