Real Estate in the Dominican Republic
Due to the low prices and high demand on properties, The Dominican Republic is one of the top nations in the Caribbean to invest in real estate. You can buy a rentable home with sea view for as low as USD. 100,000 (sometimes even down to USD. 50,000, depending on the area). Also, in the Dominican Republic, you can get financing to make the purchase as a non-resident foreigner.
Development of Real Estate in the Dominican Republic
About 15 years ago, places such as Punta Cana and Puerto Plata were hotspots for tourism, real estate investors and/or people interested in buying/renting a summer home. Nevertheless, there were other areas, such as Las Terrenas in the Samaná Peninsula, which were in development but offered top quality properties as well. This made a great location for investing, as the demand was still not high, and the supply was steadily increasing.
Currently, Las Terrenas is considered a high-end location and a place to consider for real estate investors. Nonetheless, Punta Cana and Puerto Plata are still top locations, alongside many other places, such as, La Romana, Juan Dolio, Santa Cruz de Barahona, Las Galeras, and many other spots tailored for their specific audience.
Is it worth investing in Real Estate in the Dominican Republic?
The economy of the Dominican Republic is the largest in the Caribbean and Central America, and it’s also amongst the cheapest islands to live on as well. The living costs are lower than in the US, Canada, or Europe. In addition, tourism is vastly benefitted by the numerous diving, surfing, sailing, sightseeing and other activities that occupy people’s days. Moreover, the nation has special programs for retired people to speed up their permanent residency. All these factors create a high demand in real estate, making the island a top location in the Caribbean for investors as well.
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