Caribbean & Central America — branded residential at scale
Costa Rica luxury residential saw 14.7% YoY sales growth in 2024. The Dominican Republic's branded residential pipeline (Ritz-Carlton Reserve Cap Cana, St. Regis Cap Cana, JW Marriott Miches, AC Hotel Cap Cana) is the largest in the Caribbean. These markets are the destination of choice for USD-denominated tropical residential with brand-backed institutional infrastructure.
The structural premium of branded residential (33% globally per Knight Frank, 39% in resort locations) is most available here at scale. Brand-backed residences provide rental management, staffing, security, and resale liquidity that independent properties cannot match.
Costa Rica: Osa Peninsula, Papagayo, Nosara, Santa Teresa are the primary luxury sub-markets. Stable democracy, well-developed legal framework for foreign ownership, no specific real-estate restrictions on foreigners. Property tax is very low; capital gains tax is 15% on real estate held by non-residents.
Dominican Republic: Cap Cana (Punta Cana area) is the institutional hub; Casa de Campo (La Romana) is the established luxury market. Generous tax-incentive zones (CONFOTUR designations). Currency risk is meaningful (DOP/USD), but most institutional and high-end residential is USD-priced and transacted.