Article
Exploring the Real Estate Opportunities in Dominican Republic
Just like other Latin American countries, Dominican Republic is experiencing a real estate boom, thanks to its government’s pro-foreign investment policies. Thousands of overseas buyers mainly North Americans and Europeans have bought properties in different corners of this country.
In Dominican Republic, real estate market is well developed you can put your money in variety of properties ranging from residential condos to private vacation homes and commercial spaces. Foreign investors are also encouraged to develop their own real estate for personal or commercial purposes.
But, what the Dominican Republic real estate is most famous for is its array of luxury properties. It is the luxury segment of Dominican Republic’s real estate that is experiencing a real boom. Savvy developers and modern architects are hitting the industry with new set of ideas and innovations. And, it is these highly priced, sophisticated luxury properties that are the main draws of the foreign investors in this country.
Barring the luxury projects, the other real estate properties in the country are moderately priced, especially as compared to similar quality properties in Europe, North America and even in other countries in Caribbean’s. However, the investors must also consider the extra expenses of purchasing the properties. These include the sales tax and the in case of condos the maintenance and security fees. However, before paying a high price for your investment real estate in Dominican Republic, you must consider the income potential that it promises.
Along the country’s North West coast that shares the border with Haiti; three residential development projects are coming up over many acres of isolated beaches. These projects will consist of condos and large five to seven bedroom villas. All these are ocean front properties. You will get hotels, marina slips and even golf courses within the periphery of the property.
Another high-end project is located along the southeast coast. Sprawling over 30,000 acres of land, this enormous property boasts of high-end hotels golf courses and luxury residences. The close proximity of Dominican Republic’s international airport is an makes this a hot location.
If you want to invest in Dominican Republic real estate, make sure you do it for selling your real estate for a profit after some years. Don’t do it for rental income for rigid rental laws make it impossible to evict a tenant as long as they pay the rent.
Rental incomes are also not very high. In order to avoid these restrictions, you have to buy real estate within a special tourist zone.
