You shouldn't be surprised if you fall in love with a place as wondrous as the Dominican Republic. Many travelers over the years have been smitten enough to want to stay — or at least make the country a second home. Owning, or even renting, property in the Dominican Republic is simple and affordable. It's easy to call a little piece of this island paradise your own.

Your Home Away from Home
The Dominican Republic offers a variety of real estate options to please a wide array of tastes. Whether it's a hillside villa overlooking the Caribbean Sea, an elegant townhouse or a luxurious condominium to escape the everyday, you'll find a piece a real estate that suits your personality and lifestyle.

If you're looking to buy property in the Dominican Republic, the time couldn't be better. Currently, the real estate market is geared toward the development of residential properties. And in coastal and tourist areas such as Punta Cana or Puerto Plata, the focus is mainly on foreign and second-home buyers. Many of these developments are planned with all the comforts to make your time in the Dominican Republic the most relaxing experience possible. Current trends in upscale amenities include plunge pools, outdoor showers and "green" architecture. The architectural firm BAU, Bufete de Arquitectura y Urbanismo, is one of the companies that specialize in environmentally friendly designs.

As an investment, real estate in the Dominican Republic is undergoing a boon. A stable economy has provided favorable conditions for property values to rise steadily over the past years, allowing your potential property to be a commodity that will appreciate in value. Renting a property is also extremely easy, as the Dominican Republic places no restrictions on foreigners for this activity.

Purchasing or renting a property is preferably done through a real estate agent who will take care of all the work for you. Agencies such as IMO Colonial in Santo Domingo and Dominican Home Dream Realty handle properties throughout the country and will take you step-by-step through your real estate transaction. You'll also find Re/Max Realty in Cabarete and John J. Kornbluth & Associates in nearby Sosúa.

Real Estate: The Dominican Republic To Market Itself As Retiree Paradise

With the passing of Law 171-07 on Foreign Retirees, September 2007, the Dominican Republic has become a paradise for people planning to retire and buy real estate in the Dominican Republic.

Benefits created by the law include;

fast-tracked residency paperwork (45 days),
duty-free household goods,
reductions on motor vehicle taxes,
exemption on transfer taxes for the first purchase of real estate,
50% reduction on taxes on mortgages,
50% reduction on the annual property tax,
exemption on taxes on dividends and interest,
50% reduction on capital gains.

The minimum monthly income required is US$1,500 US for retirees with a government or private pension and US$2,000 in verified income from all others. For a copy of the law in Spanish, see www.hacienda.gov.do, or contact a reputable real estate agent or lawyer in the Dominican Republic.

[Back to Top]