I asked Bruce Pierson of Dominican Paradise why he felt Las Terrenas was beginning to hear whispers of interest from investors around the world and how long he felt before the world woke up to the opportunities that are present there.

Bruce writes: Unlike many of the Dominican Republic’s coastal towns, Las Terrenas has been largely undiscovered by major economic tourism and development. The Samana peninsula was primarily an ecotourism destination and the perfect hideout for many European expatriates.

Most of the desired real estate is not yet owned by foreign investors or all-inclusive hotel chains; instead much of it is still owned by Dominican families and still affordable.

This is about to change. The new international airport, El Catey (25 minutes by car from Las Terrenas), is already operational. Long distance operators from Europe and the Americas now bring tourists directly to the Samaná peninsula.

In May 2005, construction began on the new Santo Domingo – Samaná Highway, which will reduce travel time from 5 hours to less than 90 minutes.

In the last year alone, 4 all-inclusive 5-star Bahia Principe resorts have opened on the peninsula, with a total of 1,600 rooms. The great Las Terrenas Country Club project is already under construction and sale of its villas and condominiums on the golf course, designed by the world-renowned Dye family.

A marina project, called Puerto Bonito, with 150 berths, is also under construction near Las Terrenas.

Chains like Wyndham and Melia have acquired properties and options on several of the available lots, narrowing the window of available real estate in the area.

We believe there is a 3-6 year window of opportunity to purchase land for development in the Las Terrenas area, and the sooner the better. It is likely that 2-3 years after the completion of the new international airport and highway, real estate prices have risen dramatically, catching up and matching the other Caribbean islands.

In addition to the developments and chains mentioned above, more than 20 other projects are currently underway in Samaná. Currently, investing in Las Terrenas is not only about investing in one of the most beautiful areas of the Caribbean, but also about the possibility of obtaining an excellent ROI. We anticipate that land prices will continue to rise, at a minimum, at an annual rate of about 35%. Compared to the low ROI rates in Europe and the US, this means great profit potential with minimal risk.

I talked a lot with Bruce, who moved to Las Terrenas twenty years ago. His interest and his love for the area go far beyond financial and economic interest. The Dominican Republic is arguably the most beautiful place in the Caribbean, referred to by many as The Land of Dreams. Las Terrenas has a magical stretch of 15 kilometers of virgin beach and a city with more than 40 international restaurants ranging from Italian, French and Swiss cuisine to Japanese sushi bars. It also offers a wide selection of activities available including horseback riding, golf, diving, windsurfing, tennis and many more just minutes from the city.

Bruce, who has made Las Terrenas his own, sees the area as an untouched paradise where locals ride motorcycles instead of cars, and all share a sense of community that makes it a magical place to raise a family. Bruce, who spent time with the Peace Corps and has traveled most of the world, has no hesitation in saying that Las Terrenas is one of the most magical places I have ever been.

And as others come to see the same unique qualities that Bruce has, you can’t help but realize there’s a premium to be paid for havens like this. He must stay up to date on Dominican real estate trends and be ready to buy.