The Dominican Republic has the largest economy in Central America and the Caribbean and it’s known for encouraging foreign investments. According to The World Bank, it was ranked as the largest Foreign Direct Investment (FDI) recipient in the Caribbean in 2012. Investments in electricity, manufacturing, and mining as well as export processing, tourism, and real estate have made this possible. If you’re looking for a place to invest overseas, there are some decent opportunities in the Dominican Republic.
Dominican Republic Investor Visa
Dominican Republic Real Estate Market
There are no restrictions on buying Dominican Republic Real Estate. You don’t have to be a resident or a citizen to do so, although many choose to become a resident since it’s necessary in order to stay in the country for more than 90 days.
Thanks to the rise in tourism over recent years, real estate prices have been rising in the Dominican Republic. Although prices have been rising steadily at about 10 percent each year, this country is still one of the most affordable housing markets in the Caribbean. In cities like Puerto Plata that bring a lot of tourism and a lot of expats, real estate values are appreciating rapidly. Prices for apartments and hotel-style developments are rising more quickly than those for houses. A condo on the oceanfront in one of the major cities might run at about $120,000, while properties in the hotel-style developments are more likely to run at about $250,000. Real estate prices are generally advertised in U.S. dollars.
Always use a good Dominican Republic Real Estate Agent to guide you through the process of buying or renting real estate in the Dominican Republic. You can count on oceanfront residential properties listing for about $1,700 to $2,500 per square meter. With the market appreciating as it is, international real estate investments are bound to pay off in the Dominican Republic. This is especially true since, once you get the “Rentista Visa”, you can qualify for special tax benefits on any future real estate purchases in the country. The entire country is rife with investment opportunity. Come down, stay a while, find your niche and fill it. Like in the days of “Go West Young man”, you can make your own fortune!