Christopher Columbus knew about it over 500 years ago ... Julio Iglesias recognized a gem when he saw it (and founded tremendously successful Punta Cana)... Germans and Italians vacation here in great numbers ... Europeans build second homes or retirement havens here, and have been doing so for many years.

I first visited the Dominican Republic over 15 years ago, and found it naturally beautiful with a perfect balance of stunning beaches and towering forested mountains. Steeped in history, boasting the first European city founded in the Americas, the island was breathtaking ... but I didn't have the foresight to see the potential, nor the cash to implement a dream if I had. It took others to do this first ... and now large numbers of Europeans are profiting from a destination that has largely been a secret for Americans ... and it's still as breathtaking as it was then.

For instance, I found a two bedroom, 3 bath home a short walk from the beach in Punta Cana for $115,000. If an apartment is more your style, I found studios, one bedrooms, up to two bedrooms, with one to two baths, in the same area (many completely furnished and outfitted with cable TV), ranging from $28,000 up to $180,000 (right on the beach).

On the pristine Samana peninsula (dotted with four charming small towns), I found a three bedroom retreat on nearly 3/4 acre for $77,000 ... and a rustic home a short walk from the pier for $22,000. Or you can build your own castle on a good size piece of property -- offerings are all over the place, and fit any pocketbook.

Today this undiscovered jewel (called the "DR" by locals), is an island of upscale hotels and resorts, over 15 parks and reserves, more than 7 golf courses, 21st century communication capabilities, every amenity you're used to having at home ... and those drop dead beaches and forests mentioned above. But the biggest surprise of all is it's still affordable.

When you schedule your DR appointment, you might should check out the area around Juan Dolio (not far from bustling Santo Domingo), and the magnificent Samana peninsula. Be sure to include Punta Cana too -- developed with tourism in mind, there's great potential here for investment, a second home, or the perfect retirement villa. Whatever you do, don't miss taking a tour of the Zona Colonia area of Santo Domingo -- whether you're a history buff or not, you can't help but be impressed by the charm and grace of a city steeped in antiquity.

No, I'm not a real estate agent, nor major investor -- I travel the world writing for people about hidden places where the living is good and the tariff is reasonable, places I'd like to live myself. I think the DR makes an excellent place to live and relax with prices you'd be hard pressed to find any where else in the Eastern Caribbean.