MARKET RESEARCH LA ROMANA
BABY BOOMER QUICK GLANCE DATE OF BIRTH: (1946-1964) ATTITUDE TOWARD CAREER: • Work Centric-Motivated by position and prestige • Independent- Confident and grew up in an era of reform with a personal belief to change the world
TECHNOLOGY: •
Rely on products that are more familiar
• They are influenced by television and becoming increasingly influenced by online ads •
Main source of communication is phone and over 60% are signed up to at least one social media site
FINANCIAL DECISIONS: • Prefer face-to-face ideally but increasingly will go online
REAL ESTATE TENDENCIES: • Multi-generational Home: Purchasing with the intention of sharing with extended family
STATISTICS • 24.3% of the total population • 1/3 of employees are Baby Boomers • 78% own a home • 7.8 million said they would be willing to purchase additional real estate
• 80% of the total luxury and travel spending is done by Baby Boomers
BABY BOOMER OVERVIEW: Baby boomers are a designated group of people that were born between 1946- 1964. They are labeled as baby boomers because of during this time there was a significant increase in the number of births that occurred.
DEMOGRAPHICS: In the Baby Boomer generation demographic trends are quite interesting as they have been influencing major aspects including employment, health care, immigration, tax policies, and even the countries economy. One third of employees in America are baby boomers, 24.3% of the total U.S. population. About 78% of Baby Boomers own a home, which is higher than the national ownership rate of 69%. About 96% of Baby Boomers believe that home ownership is a good financial investment. About 10%, or 7.8 million of all Baby Boomers, said they were likely to purchase additional real estate in the next 12 months. Of these potential buyers, two-thirds were planning on buying a primary residence, 26% want to buy land, 19% want rental property, 15% want a vacation home or seasonal home, and 14% want a commercial property. About 80% of the total luxury and travel spending is done by Baby Boomers. The Baby Boomers have had and will continue to have a significant impact on the real estate market. As the boomers near retirement, they continue to value real estate and will continue to invest in properties and land.
PSYCHOGRAPHICS: The Baby Boomer generation can be broken down into three psychographic segmentations based or the attitudes lifestyle, and interests of the consumer. • The smallest group of the Baby Boomers are“The Conformists.” This group of baby boomers are able to adapt and change to the rapidly changing social, political, and economic markets. They are up to date with technology and self sufficient using devices. • The second areww the “Traditionalists.” The traditionalists are defined by their conservative, political, economic, and social views. They have traditional attitudes and belief systems, are known for following the rules, and are smart consumers interested in value, trust, and variety. • The largest group and final psycho-segmented group is the “Status Seekers.” This group is characterized as materialistic and feel that money is the largest measure of success. They enjoy the finer things in life and are willing to pay more for brand name.
BABY BOOMER CUSTOMER PROFILE JOHN JOB: RETIRED
INCOME: SOCIAL SECURITY, INVESTMENTS
MARRIAGE STATUS: MARRIED • 3 KIDS (30, 35, & 36 YEARS OLD) • 7 GRANDKIDS
IDENTIFIERS • Interested in modern homes and highend Amenities • Interested in local culture • Enjoys farm-to-table dining • Participates in community events • Properties with high walk scores • Team oriented • Competitive by nature • Strong work ethic • Financially stable • High expectations • Motivated Planner
GENERATION X QUICK GLANCE DATE OF BIRTH: (1965-1981) ATTITUDE TOWARD CAREER: • Conveyor Belt Concept of Teamwork: Work on their part of the project alone and in their own style, and seamlessly pass it along to the next person to do their job on it •
Driving Force- Driven by authority, autonomy, and job security
TECHNOLOGY: •
Some-what reachable after office hours with email on their personal computer or tablet
• Preferred communication method is through email or text message
FINANCIAL DECISIONS: • Would prefer to do everything online but with go face-to-face if permitting
REAL ESTATE TENDENCIES: • Single Family Homes: Bought with the intention of just their immediate family to live there • Fractional Ownership: More frequent in second vacation homes, is a method in which several unrelated parties can share • Investment : Becoming a second home owner and use methods such as renting out the property to create an additional income
STATISTICS • 16% of the total U.S. population are Gen X • 4 people in an average Gen X home • 65% Gen X Males are Married • $74,000 is the average income for a Gen X home
GENERATION X OVERVIEW: Generation X is said variously to be born between the years 1961-1981. One can describe the group as the generation following the Baby Boomers.
DEMOGRAPHICS: In total, Generation X represents about 16% of the total US population or about 1 in 6 people. Homeownership is an important goal for Gen Xers. The majority of Gen Xers own their homes. Of those who do not, close to half worry about having enough money to purchase one, yet they feel that their own resourcefulness will have the greatest influence on achieving this goal. The median number of people in a Generation X home is 4 people. Gen X grew up in an era marked by uncertainty and many were the product on of two-income household. Having children and a stable family rank high on their list of priorities. About 65% of males in Gen X are married and 67% of females in Gen X are married. The Gen Xers, like many in the general public, are concerned about job loss and maintaining their standard of living. This prompted this generation to spend more time and energy making smart financial decisions at work. The median for a married couple families for Gen X household is about $74,000 per year.
PSYCHOGRAPHICS: The Gen X Generation can be broken down into two psychographic segmentations based on the attitudes lifestyle, and interests of the consumer. • The first are the “Actualizers.” They make decisions based solely on fact. They are considered pragmatic and are byproducts of the Information Age where data and practical approach are essential ingredients to achieve results. • The second are the “Value Oriented.” Because they have many needs and greater financial restraints, they often shop at value-oriented retailers. They can be unsure of themselves and often need reassurance that their choices are sound. Marketers can help them plan for the future and balance work, family, and personal life. They like initiatives that will make things more useful and practical.
GEN X CUSTOMER PROFILE
SUSAN JOB: HEAD OF HUMAN RESOURCES
DUAL INCOME: $140,000
MARRIAGE STATUS: MARRIED
• 2 KIDS (10 & 8 YEARS OLD)
IDENTIFIERS: • • • • • • • • • • •
Values work life balance Engages in social events Financially stable Prioritizes mental and physical health Volunteers in community service events Tech and savvy Individualistic Flexible Truth seekers Driven by balance and security Eco-conscious
QUESTIONS FOR BUYER BROCHURE
• What is my main motive or priority for owning a second home?
Investment, personal, rental etc.
• Can I get bank financing? • What types of amenities are there? • What is my wish list for property? Granite counters or space for the grandkids. What are my options? • Am I able to bring over my personal goods, furniture, car etc.? • How easy is it to get to from my primary residence? • How comfortable and “at-home” will I feel in the DR? • Can I rent out my home and if so who will manage it? • What is my proximity to healthcare services? • What special services do I need access to? • Are there steps I need to take before buying or visiting?
Learning Spanish, vaccinations, etc.
• Will I be able to have exciting and new experiences? • Is it safe in the DR? • How can I help the local community? • How will the area around my home develop and change in years to come? • Will there be other developments coming to the area? • Are there any tax breaks? • Can I work in or from the DR? What documents are necessary?
CHECKING THE BOXES BRANDING: • Logo - COMPLETE & APPROVED • Colors & fonts – APPROVED
CHECKING THE BOXES WEBSITE: • Landing Page – PUBLISHED • Website Template – COMPLETE
Landing Page
Home Page (not yet published)
SOCIAL MEDIA: • Facebook - PUBLISHED • Instagram – PUBLISHED
Facebook Home Page Instagram
Facebook post on mobile app
WHAT’S TO COME BROCHURES • Initial interest 4 pg brochure (right) • Serious potential buyer 8 pg brochure (below)
WORKSHOP E-BLAST
Discover the
DOMINICAN REPUBLIC Curious about investing in the fastest-growing economy in the Caribbean? Answer all of your questions about owning Dominican real estate and discover how easy it is to find your second home in paradise. DR REAL ESTATE WORKSHOP July 17, 2017 Omni Washington DC
DR REAL ESTATE MARKET:
DR RESEARCH
• Home prices increasing average of 10% every year for last 8 years • Construction costs remain relatively stable because materials cost has decreased
DR TOURISM: • From 2000-2011, income from tourism rose about 50% to nearly $4.4B • From 2000-2011, non-resident arrivals by air rose about 40% to approx. 4.2M • From 2000-2011, number employed in hotels, bars, and restaurants rose 18% to approx. 195,000
DR ECONOMY: • From 2000-2011, GDP rose about 77% to approx. RD$390B (US$160.9B) GDP rose approx. 6% from 2015 to 2016 • Fastest growing GDP in the Caribbean Current exchange rate: US$1 = RD$47.33
HEALTHCARE OVERVIEW The Dominican healthcare system has been undergoing reforms since 2001, which is good news for tourists as well as individuals looking for a vacation home or permanent residence. The old system was underfunded, inefficient, low quality, and resulted in a lot of out-of-pocket expenses for the patients that reside on the island as well as those vacationing from the U.S. on the island. The Dominican healthcare system has taken the opportunity to develop strong relationships with major insurance companies to enhance coverage not only to the local people but for tourists and local out of country residents. Recently Central Romana Medical Center went through a major renovation to include upgrades and expansion to its infrastructure as well as acquiring state of the art medical equipment with the ability to teleconference with other area hospitals as well as the US for consultative services. Today, there are seven hospitals on the island and several of the hospitals have the ability to life flight to other area hospitals including the US that provide a higher level of care if needed.
MEDICAL SERVICES In terms of medical services, the Dominican Republic is not far behind other developed countries and
DR RESEARCH even offers far better services than other Caribbean nations in some areas. It has an excellent reputation in the field of laparoscopic laser surgery and dentistry, which attracts patients from the Virgin Islands, the Lesser Antilles, and other Caribbean countries who wish to take advantage of the contact your insurance company for help or ask your friends and co-workers for recommendations.
STATE OF THE ART HOSPITALS Centro Médico Central Romana Centro Romana Medical Center is a leader of the healthcare system in the Dominican Republic. Their space includes five operating centers with the Centro Médico Central Romana equipped with state-high-quality care offered in the Dominican. Most of these high-quality services are offered by private clinics which are well staffed and have the newest equipment. One thing you should keep in mind is that general practitioners and family doctors are, in fact, very rare in the Dominican Republic. This is why you should choose an internist, instead of a general practitioner, who tends to your basic needs and refers you to specialists if needed. You can turn to doctors’ practices or local clinics for basic care; if you are unsure which doctor or clinic to choose, of-the-art medical technology including one of them the Olympus Endo Alpha system or Intelligent Operating Room for general surgery and laparoscopy. The hospital has many specialists who consistently meet with patients face-to-face: including family physicians and critical care physician. It also has its own department of Gynecology and Obstetrics and newborns with intensive care postnatal (NICU), a new modern clinical laboratory, emergency area, and pharmacy with 24hour services, and Diagnostic Center with X-rays sonography , Tomography, mammography, densitometry and magnetic resonance 24/7 The whole health system of the hospital is backed by an own service of three ambulances for the transfer of patients. Each ambulance is assigned a trained paramedic and each has an integrated automatic defibrillator (AED). Hospital Contact Information ING. Adelfa I Ortiz cell 1-809-440-3061 Hospital 1-809-730-1017 or 1-809-730-1019 ext 1776
DR RESEARCH Centro Medico Punta Cana Centro Medico Punta Cana has been a dedicated and reliable leader in the medical field in the DR for the past 13 years. They are committed to taking care of the health and well-being of the community and the travelers coming to this beautiful destination. The hospital has been consistently growing and modernizing their space for the past 13 years. Boasting around 30 specialties and more than 40 specialists, in the areas of Emergencies, Pharmacy, Laboratory and Modern and expanded images.
Hospital Contact Information Emergency: 809.473.7283 Hospital: 809.552.1506
HEALTH INSURANCE OPTIONS International health insurance International health insurance is a highly recommended option, as these plans are especially designed for globally mobile expats and frequent travelers. With an international plan, you can enjoy comprehensive Travel insurance If you’re only traveling to the Dominican Republic for a short trip, travel insurance may be the best option. With a travel plan you can enjoy coverage for emergency medical treatment and repatriation costs, as well as travel-related mishaps including flight delays and cancellations. Please note that this plan is best suited for those traveling to the DR for a short period of time. For example Blue Cross Blue Shield offers an extra plan called GeoBlue when arranging for travel plans outside of the United States. The plans cover all different types of traveler needs whether your trip to the Dominican is a one time affair or you are planning to visit at least once every year. All of GeoBlue’s products also offer coverage for medical evacuation back to the United States if needed. Medicare and Medicaid U.S Medicare and Medicaid programs do no provided payment for medical services outside the United States and other U.S medical insurance plans seldom provide coverage outside of the U.S. Many different private companies and travel agents offer insurance plans that will cover health care expenses incurred overseas, including medical evacuations and other emergency services.
HOW TO GET TO DR - DIRECT FLIGHTS International Airports: 1.
Las Americas International Airport (Santo Domingo)
2.
Joaquin Balaguer International Airport (Santo Domingo)
3.
Maria Montez Airport (Barahona)
4.
Gregorio Luperon International Airport
5.
International Airport Punta Cana (Punta Cana)
6.
La Romana International Airport (La Romana)
Santo Domingo - Direct Flights From:
La Romana - Direct Flights From:
Miami, FL
Miami, FL
New York, NY Boston, MA Atlanta, GA Orlando, FL Philadelphia, PA Tornto, Canada Bogota, Colombia Caracas, Venezuela Havana, Cuba Mexico City, Mexico Montego Bay, Jamaica Panama City, Panama San Jose, Costa Risa San Juan, Puerto Rico Madrid, Spain Frankfurt, Germany Munich, Germany Paris, France
Punta Cana – Direct Flights From: New York, NY Atlanta, GA Charlotte, NC Chicago, IL Miami, FL Minneapolis, MN Philadelphia, PA Washington, DC Bogota, Colombia Buenos Aires, Argentinga Caracas, Venezuela Lima, Peru Panama City, Panama San Jose, Costa Rica San Juan, Puerto Rico
Santiago, Chile Sao Paulo, Brazil Berlin, Germany Brussels, Belgium Cologne, Germany Frankfurt, Germany Lisbon, Portugal London, UK Lyon, France Madrid, Spain Munich, Germany Paris, France Vienna, Austria Zurich, Switzerland
DR RESEARCH ARRIVING TO VIDAS TRANQUILAS From Santo Domingo •
Driving Time: 1 hour 45 minutes
•
You can either rent a car or call a taxi
•
Taxi: $100-120
•
Car Rental: from $20/day
From Punta Cana •
Driving Time: 1 hour or less
•
You can either rent a car or go by taxi
•
Taxi: $80-100
•
Car Rental: from $20/day
UNITED STATES - DOMINICAN REPUBLIC SIGN AGREEMENT TO OPEN PRE CLEARANCE FACILITY AT PUNTA CANA INTERNATIONAL AIRPORT The implementation of U.S. Customs in Punta Cana’s International Airport will help travelers undergo CDP immigration, customs and agriculture inspections before boarding a flight to the United State at a foreign airport rather than upon arrival in the U.S. This new facility in Punta Cana will be the first ever airport in Dominican Republic. This will help increase tourism in the Dominican Republic because it will facilitate travelers to return to the U.S. by having these procedures done in Punta Cana since it will reduce wait times, make quicker connections to U.S. domestic flights and the ability to get bags after landing. Preclearance operations will begin in early 2017
IMPORTANT QUESTIONS 1. Current stats for real estate trends and costs for land/new builds? 2. Will bank financing in the DR be available to potential buyers? What is the cash down? 3. Can we demonstrate ROI in last 2, 5, and 10 years with hard statistics? 4. Have local crime rates increased or decreased in recent years? 5. When can we begin the push through seminars/meetings? 6. What will TEJEFON provide for the potential clients? • Come Visit the DR on us! • Free weekend getaway 7. What will be the incentives for Pre-Sale buyers? • Provide a “menu of benefits” from which buyers will choose what best suits their needs. Examples: • Free golf membership • Presale pricing • One-year exemption from HOA fees • One-year of free property management 8. What types of units are available and what is the breakdown of condos/single family? 9. Will there be other developments – when and where need timeframes? 10. What amenities will be available - clubhouse, grocery store, emerge care etc.? 11. What dimensions are the units? 12. General range pricing of each type of unit? 13. What finishes are available to choose from? 14. Exact location of VT? 15. Will there be beach access and where? What would the cost be to residents? 16. Will there be golf access and costs involved if owner occupied full-time, part-time and to renters? 17. Will there be public transportation or private buses to beach access, town center etc.? 18. Dates for deliverables for Model Units ? 19. What is the estimated start date for the presale campaign? 20. What type of home security information - Gated Community? In-home security? 24 hour guards/ patrols? 21. Will there be an on-site management and concierge service? 22. What will the potential rental income be per unit?
1700 Carretera de la Playa, La Romana 22000 I +1 809.123.4567 info@vidastranquilas.com I vidastranquilas.com