Where to buy Real Estate, Property, and Land in the Dominican Republic in 2022?
Are you a first-time buyer and are thinking to take into consideration the Dominican Republic as a place to invest your money or buy a second home for the holidays?
Location matters when making a choice. So here’s the answer.
The North Coast of the Dominican Republic is the best place to buy a property and invest in Real Estate.
Why? There are many reasons and everybody who comes here to visit or to buy and rent a property will confirm the following:
- The Island Life: Have you ever spent time on a beautiful island in the Caribbean with direct access to many beaches, the jungle side of the mountains, local fresh fruits, and amazing views, no matter if you’re relaxing or working remotely. The beauty here is everywhere, and it is hard to get back to where you were after getting used to the panorama and warm feeling when living here.
- The Opportunity: growth, development, and construction look promising as more and more buildings are getting built and sold.
The Dominican Republic is one of the top destinations to invest in rental properties worldwide, thanks to growing demand and the affordable market. From beachfront condos and villas that you can own to then rent out throughout the year. Tourism is big, especially now that countries are opening back up for people to travel abroad.
At Cabarete Properties, we value new Development & Construction, as it is a promising area thanks to the high investment opportunities, especially when it comes to Luxury Real Estate.
- The vibrant Community: Cabarete’s close and welcoming community is a pro feature of this town, made of both local and ex-pats, that will make you feel at home. Safety for families and children is something people know about Cabarete so you don’t have to worry.
Many existing and now-building developments are in gated communities or have 24/7 private security, which is ideal for families or anyone moving from abroad who is looking forward to feeling safe and connected.
The North Coast is wide but there is one specific spot that is worth your attention: we are talking about Cabarete, located in the Puerto Plata Province.
Here you get the best of both worlds: luxury living in a tropical space and staying active in the water sports community.
Can foreigners buy property in the Dominican Republic?
The answer is Yes.
There are no restrictions on foreigners purchasing real property in the Dominican Republic. There are many reasons why foreigners decide to buy a house or make an investment in the Dominican Republic. The process of purchasing land or building a new property is pretty simple and encourages people with real estate opportunities on Dominican soil. Also, the Dominican Republic is in constant economical growth, affecting the real estate sector positively.
Many ex-pats chose to buy property on the island, usually a beachfront apartment or a private villa, that they use for a few months and rent out the rest of the year for a profitable return on their investment.
- High-income potential, the country recorded more than 6.5 million visitors (2018).
- Tax incentives for international investors.
- Stunning tropical beaches with first-class facilities, such as luxury resorts, hotels, restaurants, and golf & tennis courts, and water sports.
- It is very easy to travel to the DR! Thanks to the many International airports, the island is an accessible destination (from the US and Canada flights are getting cheaper and direct).
The answer is: Yes!
If you are interested in getting to know about Property Taxes in the DR keep reading HERE.
Why should you retire in the Dominican Republic?
The Dominican Republic is one destination where you can retire on a budget, thanks to the low cost of living compared to Northern America. Usually, $1,200 per month allows you to live with all the essentials and more: from renting a condo to eating at many delicious beachfront restaurants.
Anywhere you go you’ll be able to find imported products and groceries.
Airports and buildings are easy to access and at close distances all over the island. Main roads are improving and in some places even public areas and beach accesses.
You’ll have to keep into consideration the Retirement Application Process once you decide to retire in the Dominican Republic! It is easy to follow and apply, allowing any person to retire to the country.
Prepare to provide proof of a monthly pension, plus $250 for each person who is joining the Application Process, which usually takes 45 days for approval.
For more information regarding the Retirement Application Process in the DR, have a look at the official website HERE.
Do you have other questions regarding Cabarete and Real Estate Opportunities and investments on the North Coast of the Dominican Republic?
If you need more information on Real Estate investments in the Dominican Republic or are interested in relocating or purchasing a property in the Cabarete area, we are happy to help. Our experienced agents can work with you remotely to find housing or investment property to purchase.
You can also visit us at any time at the Ocean One Plaza office (from 9:00 am to 6:00 pm – Monday to Friday), or the newest location at Ocean Dream Plaza (from 10:00 am to 6:00 pm – Tuesday to Sunday), next to Gordito’s Fresh Mex.