Dominican Republic Real Estate: Santo Domingo | Juan Dolio | Barahona | National District

Why Consider Purchasing Real Estate in The Dominican Republic?
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First off, it is true that your real estate funds do go farther in the Dominican Republic, and that is especially the case for any clients paying with US Dollars with regards to local exchange rates (as compared to some other jurisdictions). In addition, on average, if you start to compare real estate values across the Caribbean, the Dominican Republic tends to offer real estate that is about 25 percent less expensive than elsewhere. Our office does assist with properties in Santo Domingo, Juan Dolio, Bani, Barahona and the Greater Metropolitan area surrounding the National District, and elsewhere. Please feel free to contact us with your real estate questions !

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Dominican Republic Real Estate As A US Dollar Inflation Hedge:
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The US Dollar is sinking like a rock, and the US real estate market is not fairing too much better. The diagnosis by many respected economists is for even lower interest rates. So, what can you do? Convert your US Dollars to Euros or Gold? Maybe, but that train seems to have already left the station. Where can you convert your US Dollars without losing your shirt on the exchange rate or otherwise, get fair value for your money? One answer might be with Dominican Real Estate. . . .
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Go South To The Caribbean Side !
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When the idea of a home in the Dominican Republic comes to mind, many people have focused their attention on tourist areas that have quite candidly gotten all the attention - because of tourism. However, there is quite a bit going on around the South Shore of the country (The Caribbean Side) and if you are looking to discover the next Punta Cana (we are talking about Punta Cana before the prices went up) or where some of the real property bargains are to be had - you should take a look at what is going on down south. For example, did you know about the new Independent Financial Center of the Americas, copied to some extent on what was set up in Dubai ? The Independent Financial Center of the Americas will house private and commercial banks and an electronic exchange, called LAIFEX. Of course, we all know what happened to real estate prices in Dubai. . . .
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Is It True That Real Estate in the DR Can Be Tax-Free ?

Yes, it is true. Any property valued at less than RD$5 Million Pesos, or about US$150,000 is FREE from annual property taxes. I know what you are thinking - how many decent properties are truly available in that price range? The answer is plenty ! But aside from that, new residents applying as retirees (or those persons living from a fixed income) can benefit from 50 PERCENT OFF TITLE TRANSFER TAXES on their first home purchase. And best of all, unlike the pensionado program in other countries (such as Panama), there is no age restriction in order to qualify. Find out why many retirement bound clients (and even those people retiring young or early) have chosen the Dominican Republic over many other options.
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Legal Corner: Commonly Asked Questions and Answers

Our own legal eagle, Licda. Carolina Maldonado, answers many of the questions that clients ask about real estate title transfer taxes (you could be exempt as a new resident on your first purchase if you are retired, but this section really applies for everyone else), annual real estate property taxes, ownership questions when the buyer is a foreigner, plus many other related items. Generally speaking, you may be very surprized to learn how favorable owning real estate in the Dominican Republic really is, or better said, how less taxing it might be as a more correct way to explain it. Regardless, click on this section in order to get the correct information here, from an attorney that specializes in contract law and real estate transactions.
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Dominican Republic Real Estate In The News:

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RETIREES FIND THEIR PARADISE October 1, 2007
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With more than 10,000 tourists a day flocking to the island, foreign investment is at a seven-year high of $1.2 billion. And there are more than $2.5 billion worth of real-estate projects under development. Perhaps nowhere is the shift being felt more than the coastal region known as Bavaro-Punta Cana, where the all-you-can-eat budget beach resort was virtually invented decades ago. Driving along a busy road shared by tourist buses, bulldozers and backhoes, Emil Montas points out the dentist office, shopping mall and hardware store that have sprung up over the last few months. Montas is part of the region's changing face. His company, La Costa Destinations International Realty, manages 2,000 condos across the island and is building 70 of its own in Bavaro-Punta Cana with foreign buyers in mind. Even as the U.S. real-estate market stumbles, Montas said builders like him can't keep up with the demand.

While isolated beaches and cheap drinks lure tourists, it's healthcare, accessibility and cheap labor that draw retirees. Medical attention and infrastructure are huge factors, Haskins said. Then there's the ability to afford a maid, a gardener and all those things you can't even think about in the U.S. The minimum wage in the Dominican Republic is $99 a month, in line with Mexico and far cheaper than Puerto Rico - the island's two biggest competitors in the Caribbean, making domestic help affordable. And the government and private sector are pouring money into new international airports - there are six of them - and multi-lane highways. Click Here For More
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Barahona: The Best Kept Secret In The Dominican Republic !

How many times have you put off investigating Caribbean Real Estate because you thought all the good properties were taken, or way out of your price range? How many times have you gone onto the Internet, only to find nothing but million dollar homes you knew you never could afford, either as an investment or retirement property? Are you sure you are looking in the right place?
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