Villas in Dominican Republic
Questions from property buyers
Transactions are conducted in US dollars, and EUR is also accepted. Payment is available in cash on a personal visit, by bank transfer or via an escrow account for a secure transaction. Installments from the developer without interest are popular. Investment properties show a yield of 8-15% per annum from renting to tourists. There are no restrictions on the export of capital - you can sell real estate on the secondary market at any time.
Search for a suitable object on a map or in a catalog, view, and check documents with a lawyer. It takes 30-60 days from the preliminary agreement to the registration of the property. The real estate agency provides full transaction support, including bank transfer of funds. You can get a mortgage for residents at 8-12% per annum. The whole process is easily monitored remotely via the Internet.
The construction is made of reinforced concrete and natural stone, taking into account hurricanes. Leading companies: Grupo Puntacana (Cap Cana, Punta Cana Village), Pinares Group, Cocotal Golf & Beach Resort. Projects under construction in Bavaro, Puerto Plata, Samana offer discounts of up to 30%. High-quality new buildings meet international standards. I recommend checking the developer's licenses and guarantees at all stages of construction.
The new villas are sold with furniture, household appliances, air conditioning, private pool and parking. Popular layouts: studio, 1-6 bedrooms, penthouse with terrace. Most of the facilities have a beautiful garden, a balcony with ocean view, and guest rooms. Luxury accommodation includes a Jacuzzi, gym, wine cellar. The area ranges from 150 to 800 meters, with plots of up to several hectares of land.
Upon purchase: 3% transfer tax + 1% registration fee + notary services (about 2% of the cost). Yearly: 1% real estate tax for properties more expensive than $9,300. The management company charges $200-500/month for maintenance. Installments are available from the developer for up to 24 months. Payment is possible in USD, EUR or rubles at the current exchange rate.
Yes, foreigners have equal rights with Dominicans to purchase property, except in border areas. Real estate is registered through a title or a condominium. Many clients from Russia, Germany, Italy, the USA and other countries successfully purchase luxury apartments, townhouses and villas. To obtain a residence permit, it is enough to buy a property worth from $200,000. The property registration process is protected by international law and complies with international standards.