A Guide to Buying Property in the Dominican Republic for Foreign Buyers
As the most visited island in the Caribbean with a rapidly growing economy, a stunning landscape ranging from endless beaches to lush mountains and excellent international air connections, the Dominican Republic is unsurprisingly one of the most popular destinations in the Caribbean for second-home buyers with a vibrant real estate market.
If you are currently considering investing in real estate in the Dominican Republic but you are wondering “where are the best places to buy property in the Dominican Republic?” or “how do I go about owning property in the Dominican Republic as a foreign buyer” then this guide is for you.
Our guide takes you through the process of buying property in the Dominican Republic from beginning to end, including an introduction to the real estate market, the buying process and the taxes you will need to be aware of.
Overview – The Dominican Republic Real Estate Market
With thousands of miles of Caribbean beaches, stunning mountains and 30,000 square miles of lush, tropical islands to explore, the Dominican Republic has firmly cemented its position as the Caribbean’s top tourism destination and largest economy. Driven by the booming tourism sector, a robust economy and major infrastructure investments, investing in Dominican properties has become popular with international second-home buyers too and the Dominican Republic real estate market has grown considerably in recent years.
Popular areas include Punta Cana and La Romana on the eastern and south-eastern coasts, Las Terrenas in Samana and Cabarete in Puerto Plata, where international buyers have snapped up thousands of beachfront condos for sale in the Dominican Republic.
Homebuyers are drawn not only to the beaches but to the first-class facilities and a wide range of attractions, including high-quality hotels and resorts, championship golf courses, spas, shopping, and marinas.
The country also offers political and economic stability. The Dominican Republic has the fastest growing economy in the Latin America and Caribbean region – its economy grew by an average of 6.6% during 2014-2018.
Buying Property in the Dominican Republic
Can foreigners buy property in the Dominican Republic?
Yes, foreigners can buy property in the Dominican Republic and the Government welcomes investment from overseas buyers. There are no restrictions on foreign buyers acquiring real estate in the country and foreign buyers enjoy the same rights as Dominican citizens. Title can be held in the name of an individual or corporation. Property purchases must be registered for administrative purposes with the Title Registry Office.
Buying property in the Dominican Republic is a relatively simple process, which typically involves the following steps:
- Begin your property search.
- Find your perfect property and make an offer.
- Upon signing a Purchase Agreement, you will be required to pay a 10% deposit which is held in escrow.
- A notary oversees the purchase process which typically takes 6-8 weeks to close.
- Pay all required taxes and fees.
There is a Transfer Tax of 4.48% and Stamp Duty.
Property Tax is 1% of the assessed value of the land and home.
Search Dominican Republic Real Estate Listings
As specialists in luxury Caribbean property, we can introduce you to a wide selection of the finest residential property in the Dominican Republic.
Homes for Sale & Condos for Sale
Our website is the ultimate destination to discover a wide selection of villas, houses and homes for sale in the Dominican Republic, as well as apartments and condos for sale in the Dominican Republic.
Land for Sale
You can also browse undeveloped land. Purchasing a lot of land provides you with a blank canvas and the opportunity to build your dream home in the Dominican Republic.
Whether you are looking for beachfront land or a centrally located lot, we’re here to help you find the perfect lot of land for sale in the Dominican Republic.
For larger parcels of land for commercial development, please see our commercial real estate listings.
Hotels for Sale
Searching for hotels for sale in the Dominican Republic? Browse hotels, B&Bs and guests houses right here.
Finding the Perfect Property for Sale in the Dominican Republic
Discover the most sought after real estate investment opportunities and benefit from unrivaled insight into the market.
To find your perfect property in the Dominican Republic, search our Dominican Republic real estate listings.
Best Places to Buy Property in the Dominican Republic
Discover Azua – Read our guide to buying property in Azua.
Discover Bavaro – Read our guide to buying property in Bavaro.
Discover Bayahibe – Read our guide to buying property in Bayahibe.
Discover Cabarete – Read our guide to buying property in Cabarete.
Discover Cabrera – Read our guide to buying property in Cabrera.
Discover Cap Cana – Read our guide to buying property in Cap Cana.
Casa de Campo
Discover Casa de Campo – Read our guide to buying property in Casa de Campo.
Jamao & Espaillat
Discover Jamao & Espaillat – Read our guide to buying property in Jamao & Espaillat.
Discover Juan Dolio – Read our guide to buying property in Juan Dolio.
Discover La Romana – Read our guide to buying property in La Romana.
Discover Las Terrenas – Read our guide to buying property in Las Terrenas.
Discover Miches – Read our guide to buying property in Miches.
Discover Monte Cristi – Read our guide to buying property in Monte Cristi.
Discover Playa Grande – Read our guide to buying property in Playa Grande.
Playa Nueva Romana
Discover Playa Nueva Romana – Read our guide to buying property in Playa Nueva Romana.
Discover Puerto Plata – Read our guide to buying property in Puerto Plata.
Discover Punta Cana – Read our guide to buying property in Punta Cana.
Río San Juan
Discover Río San Juan – Read our guide to buying property in Rio San Juan.
Discover Samana – Read our guide to buying property in Samana.
Discover Santo Domingo – Read our guide to buying property in Santo Domingo.
Discover Sosua – Read our guide to buying property in Sosua.
Discover Zona Colonial – Read our guide to buying property in Zona Colonial.
Dominican Republic Residency
How long can a foreign citizen stay in the Dominican Republic?
Citizens of the USA, Canada, UK, EU and many countries in South America are permitted to remain in the Dominican Republic on holiday without a visa for up to 90 days. Longer stays may be requested at a fee.
How do I become a resident of the Dominican Republic?
If you would like to live in the Dominican Republic you can apply to the Migration Department for temporary residency status. This is valid for one year and can be renewed.
There is a fast track program offering immediate access to permanent residency for applicants who make a minimum investment of US $200,000 in property in the Dominican Republic or applicants who can demonstrate a minimum income of US £1,500 per month from either a foreign investment or pension.
Individuals who have resided in the Dominican Republic for 5 years with temporary residency status can apply for permanent residency.
How do I become a citizen of the Dominican Republic?
Individuals who have resided in the Dominican Republic for 7 years (including 2 years as a permanent resident) and are fluent in Spanish can apply for citizenship by naturalization.
Individuals on the fast track program may be eligible to apply for citizenship by naturalization after 2 years as a permanent resident.
Sending Money to the Dominican Republic
You could save money when investing in Dominican Republic real estate by using a foreign exchange expert to get the best rate for your property purchase. We have partnered with Halo Financial, a specialist in foreign exchange, to help you get the best exchange rates when making one-off or regular international payments for a property purchase in the Dominican Republic. To see how you could save money, read more: Foreign Exchange.
How to Get to the Dominican Republic
There are direct flights to the Dominican Republic from the USA, Canada, Europe, South America and other Caribbean islands.
There are several international airports in the country, including in Santo Domingo, Punta Cana, Puerto Plata and La Romana.
Most international flights arrive at Punta Cana International Airport.
London Gatwick to Punta Cana: 8 hours 25 mins
Miami to Punta Cana: 2 hours 30 mins
Panama City to Punta Cana: 2 hours 35 mins
New York to Punta Cana: 4 hours 00 mins
Paris to Puerto Plata: 9 hours 30 mins
Toronto to Puerto Plata: 4 hours 10 mins