Buying property in The Dominican Republic

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“I assure your highnesses that these lands are the most fertile, temperate, level and beautiful countries in the world”- Christopher Columbus. The Dominican Republic is one of the most beautiful Caribbean destinations and is also one of the most exciting emerging property markets in the world. Government incentives to attract high quality sustainable tourism continue to successfully revitalise the countries economy and industry and there has never been a better time to buy a property in The Dominican Republic.

The market continues to grow at unprecedented rates resulting in steadily increasing real estate prices and solid rental returns. Guaranteed rental has become a buzzword within the property industry but few schemes could compare with the structure or yields offered by guaranteed rental schemes. Furthermore the government incentives for the current developent offer 10 years of tax incentives, no tax on rental income, no capital gains tax and no property purchase tax (Normally 4.6%). There are no restrictions on foreigners inheriting title to property and all development properties are freehold.

Punta Cana-Bavaro has become the fastest growing tourist area within The Dominican Republic. Punta Cana International airport receives 47% of all foreign tourists, with local resorts enjoying occupancy levels in excess of 86%. There is a demand for more upmarket, residential style accommodation and hence the major investment in the area as more people realise the potential of this beautiful country in comparison to other Caribbean destinations. The Dominican Republic has seven international airports, more than any other Caribbean Island.
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