Its surprisingly easy to buy a Real Estate Object down in the D.R. You don't need a residency, a permit, any complicated paperwork. You won't pay a lot of taxes (near to none). And if you do it half way sensibly, it's safe.
Simply, find a solid real estate company with a big name (Remax for example). Try to find one run by an American or European person. Speak to the boss and listen closely, if you have the feeling that he's honest, try him out. Compare 2 or 3 companies, go with the one that you feel best about.
The real estate has exploded in the last 5 years. The # 1 Region is undoubtedly Punta Cana. Especially for an investment, you get the fastest growth in value there. It's very safe, and has the most beautiful beaches of the island. There are a lot of high-end residential projects with luxury hotels, yacht harbors, exclusive villas, golf courses etc. You also find a dazzling array of affordable apartment complexes, beach front or close to the beach.
After checking at least 5 objects (compare!!), a few things you should put your eye mark on:
-
Ask to see the original title of the land/object (since April they must have the GPS-coordinates on them)
-
Ask for the correlative Demarcation document ("deslinde")
-
Ask to speak to their lawyer to explain all legal aspects clearly
look at the land/object, take pictures of it, walk around, talk to people living nearby (As Dominicans are very friendly and social, they'll love to talk to you and give their opinion. Usually neighbors know any negative points or dirty secrets that you don't know yet).
Are they affordable? Well, prices vary, but are very good compared to other Caribbean Destinations. Some examples:
-
Li'l cabin in the woods for US$ 10,000.
-
Simple house 15 mins. from the beach for US$ 35,000.
-
Very nice gated poolside 2-bdrm apt for US$ 100/150,000 or more (1 min from beach).
-
Beach front: put on 50 - 100%.
Golf course luxury villa from US$ 400,000.
There are a lot of real estate websites to surf around in. Check out these ones too:
