The Dominican Republic is the most visited nation in the Caribbean. The name of the region alone evokes a sense of paradise, of exoticism and scenes of islands, bright beaches and sunny skies. For those who are looking for foreign real estate Dominican Republic properties are up for grabs. The Dominican Republic would be the perfect place for regular summer holidays for anyone who manages to purchase property there.
Aside from having a regular summer escape, the nation would also make a perfect retirement home thanks to a very affordable cost-of-living compared to other Caribbean nations, mainly driven by the widespread tourism. With a perfectly-placed piece of purchased real estate Dominican Republic tourism can become a good source of income for enterprising investors.
There is one caveat however when purchasing part of the nation’s real estate. Dominican Republic jobs are scarce, at least for amounts at par with Western standards. Hence, the Dominican Republic may not be a place for those who seek to immigrate unless they’re determined and enterprising enough to build a business. The Dominican Republic however is perfect for retirees and holiday jetsetters.
Fortunately for such buyers, when it comes to real estate, the Dominican Republic does not impose restrictions to foreign buyers. All that’s required is a valid passport and for the transaction to pass through a Dominican company or individual. There’s no required residence permit or years required to live on the nation. Purchases are best made through a lawyer with the help of a local realtor.
Many foreign nationals have already taken their leap of faith because they have fallen in love for the beautiful island nation, found stable jobs and bought real estate. Dominican Republic real estate hot spots include the scenic region of Samana, the serene fishing region of Bayahibe and the tourist haven of Punta Cana.