At present, the Dominican Republic is considered one of the fastest growing and legally secure economies for investors in Latin America.
For this reason, foreigners and locals invest into the real estate market in the north coast of the Dominican Republic with the intention of obtaining profitability from properties through seasonal rentals, as well as with the creation of hotel projects in the Caribbean.
Today, the Dominican Republic is chosen as a tourist destination by millions of foreigners from all continents. Even for water sports and adventure lovers looking to invest in real estate, the north coast is the place par excellence. In cities such as Puerto Plata, Sosua and Cabarete you can enjoy surfing sessions.
In addition, if the wind allows it (something that happens practically all year round in Cabarete) you can practice windsurfing and kite surfing.
Is the Dominican Republic a Good Place to Buy Real Estate?
Within Latin America and the Caribbean, the Dominican Republic has been considered as one of the countries where it is feasible to invest in real estate. The financial, legal and political security of the country has considerably increased the demand for real estate in the north coast.
Also, the pandemic that hit the world has led many people to look for a second home to rest or to live temporarily. This made the Dominican Republic the ideal place to invest in a real estate property with the objective of obtaining profits through short-term rentals.
It is important to consider that the real estate market in the Dominican Republic is very stable, which does not put your investment at risk.
Keep in mind that, when making an investment in an off-plan residential project, as well as buying an apartment or villa, it is important to have a legal advisor to help you make your transaction safe, without risks.
For this, we suggest you contact our notary lawyer or one of our real estate agents, who will advise you and verify that all the documentation is in order and that there are no outstanding property or community debts.
Is It Possible for Foreigners to Buy a Real Estate Property in The Dominican Republic?
Yes, both foreigners and Dominicans residents outside the country can buy a real estate property in the Dominican Republic. So, if you are thinking of buying a luxury villa in Cabarete or Sosua from European or American countries, you will not have any issues.
Clearly, the Dominican Republic is a perfect destination to retire or have a second home in the Caribbean, in which to live a life of luxury. Many foreigners live in the country during winter and the remaining months, they have the possibility to receive monthly income generated by the rental of their property.
Are There Cheap Properties in The Dominican Republic?
This is a frequent question that tourists have asked us over the years, once they are captivated by the beauty of the beaches and the warmth of the people. The answer to this question is a resounding yes: in the country, there are properties for all budgets and pockets.
But, first of all, before starting the hunt for the ideal real estate property, it is important to be clear about the amount of money you can afford to invest. From that point on, you can define where to focus your search.
At Century 21 Perdomo there are cheap houses, economic apartments and villas at very affordable prices, without forgetting the land for sale at incredibly cheap prices, as well as those plots that are in front of the beach and cost a little more.
Is It Cheap to Live in The Dominican Republic?
The cost of living in the Dominican Republic is relatively inexpensive for a foreigner, the essential services and daily consumer products allow you to maintain a budget to give yourself certain treats, such as going on weekends to discover other cities or go to a fancy beach restaurant.
Many foreigners live comfortably in areas of the north coast, in cities such as Puerto Plata, Sosúa and Cabarete. In these towns you will find typical Dominican restaurants where you can eat at popular prices, and we recommend you to try them.
In contrast to many European and North American countries, in the Dominican Republic the prices of vegetables and fruits are incredibly cheap.
So, if you are thinking of buying real estate in the North Coast in cities such as: Puerto Plata, Sosua, Cabarete, Cabrera, Rio San Juan or Samana, do not hesitate to contact us today. Century 21 Perdomo has the perfect real estate property to fit your real estate investment budget in the Caribbean.
