Buying Real-Estate in the Dominican Republic

by Suzy Jane

With its golden and white sand beaches fringed by lush tropical vegetation and an average year-round temperature of 25° Celsius, the Dominican Republic beckons travellers; for here amongst its cool breezes can be found sport, geography and nightlife to suit any lifestyle.The north coast of the Dominican Republic boasts the hip, youthful atmosphere of Cabarete. Bordered by both a sunny beach and a peaceful lagoon, Cabarete offers windsurfing and kite boarding as well as scuba diving and mountain biking. The night comes alive with a wide assortment of restaurants and clubs. This modern, sun drenched city is easily accessible from the Puerto Plata

International Airport, which is only twenty minutes away.In contrast to Cabarete, life in Puerto Plata has a slower pace, making it the perfect locale to kick back and relax. The city is home to several tourist resorts, but the all-inclusive nature of the resorts means there is little overflow of tourists into the residential areas of the city. Santiago, the second largest city in the Dominican Republic, nests in the island's interior. World-class restaurants with well stocked wine cellars can be found in number along Santiago's cosmopolitan streets.

The nation's capital, Santo Domingo, lies on the south coast. La Romana, home to two 18-hole championship golf courses, sits on the south coast as well.In between Cabarete and Puerto Plata is the popular town of Sosua, with it's friendly Dominican and expat community. Real-estate here is destined to rocket in price as outsiders realise how undervalued it is. New schools catering to the influx of expats have sprung up making 'moving to the Caribbean' for families a realistic option.

The native language in Dominican Republic is Spanish but English, French, Italian and German are also widely spoken. A booming economy, which has experienced explosive growth in the last twenty years, makes the Dominican Republic home to one of the most politically and socially stable governments in the region. Gambling is legal all over the Dominican Republic. Seven international airports make air travel convenient.

Miami Beach is only three and a half hours away by plane and the UK only eight hours and well served by chartered flights.A brief visit may encourage a more permanent return. Real-estate for rent and real-estate for sale are abundant. The starting price range for a newly built luxury property may be as little as $70 per square foot. Villas, apartments and condos are available in all price ranges and there are many real-estate agents who can assist in finding property for sale.Foreigners may buy or sell real-estate at will and closing costs on a cash transaction may be as little as six percent.

A home owner may choose to reside in the Dominican Republic only part of the year and rent his/her property out the rest of the year. In that case, rental income is tax free.For more information on buying real-estate in the Dominican Republic, visit Dominican Real-Estate and Dominican Property. For more general information on the Dominican Republic, visit Dominican Republic Index.

About the Author
Suzy Jane lives and works in the Caribbean island the Dominican Republic. For more information on the Dominican Republic, visit Dominican Republic Index.