Santo Domingo: an investor's paradise
Immersed in the Caribbean, the Dominican Republic has been revalued by investors in the last three years, causing a sharp increase in population (only Santo Domingo has one million inhabitants).
Thanks to US investments, especially in the real estate sector, it confirmed a continuum in the economic cycle, with an increase in real terms of 7% compared to 2017. Key element that strongly attracts foreign capital, is given by the so-called '' free zones '':
In the Dominican Republic there is a special regime (Law 8-90 and Implementing Regulation Decree No. 309- 2000) for companies of industrial goods or services. Among the various preferential tax benefits, it is worth noting the import duties of raw materials, the export or re-export tax, the value added tax and other taxes. What makes it possible to incentivize the real estate sector is the geographical position: Favorable location for access to European and American markets, offers the advantage of proximity to Haiti, with the opportunity to seize the opportunities associated with its reconstruction and logistics efficiency (center of the areas of North America, South America and Europe) with international agreements of preferential access to over 900 million consumers.
But how much does it cost to live in this paradise? Let's start with the payment of property taxes. A purchase contract has a cost of about 15.000 / 20.000 RD $ with a notary's stamp and the taxes to be paid are 3% of the value stated in the contract, which is paid only once. The real estate market is booming. Costs for land purchases and labor are still low. And you can truly afford dream homes or villas that certainly the market not only Italian but also European does not allow. Not to mention the magnificent places. Having a house in the Dominican Republic allows you to move and visit Cuba, Panama, the Bahamas, Miami and other wonderful places in depth.
Here are the most beautiful and convenient places to move: Santo Domingo, capital of the Dominican Republic, is the first city to have been founded in the New World. The city also boasts the oldest cathedral in the Americas, the Catedral Primada de America, while the nearby Parque Colón, in addition to housing the statue of the famous Admiral, is the meeting point of the inhabitants of the area. A contract for the sale of a property in Santo Domingo starts at $ 120,000.
On the coast, Amber Coast is one of the richest deposits of amber in the world. With 120km of beautiful beaches stretching east of Puerto Plata, it offers sales contracts starting at $ 360,000 for villas and luxury homes. Jarabacoa is defined as the '' Switzerland of the Tropics ''. The richest families own villas in this area equipped with every comfort. If you do not want to give up luxury, you can buy a house in Jarabacoa with 250,000 euros.
For every detail about the purchase of real estate in the Dominican Republic, you can visit this site.
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