Friday, October 7, 2022

How To Buy A Property In The Dominican Republic?

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There are many reasons that can motivate the decision to buy a house in the Dominican Republic. The process of acquiring land or building properties has been reduced to its simplest form to encourage the purchase of real estate. But the most important reason is surely economic. In fact, the country is experiencing strong economic growth that favors a business-friendly environment that affects all sectors, including real estate. Many expats have opted to buy an apartment that they use for a few months and rent it out for the rest of the year to make a profit. Here is a list of turnkey properties that offer good rental returns.

The development of tourism, which is one of the country’s currency providers, is not outdone and the government is now focusing on high-end tourism. This form of tourism requires private accommodation facilities away from busy hotels. The construction of Luxury homes for sale in Dominican Republic is an ideal solution for people looking to invest, relax and enjoy an extra passive income. In the North of the island, in the village of Dr-luxuryrealestate, an increasing number of real estate projects are being developed every year.

Why buy a property in the Dominican Republic?

Interests are divided into two parts, a personal interest or a business interest. As for personal interests, the beaches of the Dominican Republic will delight you. For those who can afford it, building a luxury home in the Dominican suburbs guarantees dream accommodation.

You can also take advantage of renting the property. And this is the second interest because the Dominican real estate sector is evolving; real estate profits are constantly increasing, so if a property is intended only for a summer residence, the best form of profitability is to rent it. And the Dominican government, aware of the investment that the luxury real estate sector could make, adopts a proactive policy by establishing settlement areas for residential areas.

The high season in the DR is quite long compared to Spain and other countries where people spend their vacations. In fact, in total you can count approximately 6 months of high season where rental prices rise between 20 and 50% further boosting the chances of profit.

In addition to the meager 1% annual property tax, pay no income tax on your rentals. Apart from the general favorable situation, you will have to consider the location of your future property. Some places are seeing more growth than others… For example, Dr-luxuryrealestate is one of the hottest places in the Dominican Republic in terms of real estate investment and growth right now. The market is fed by local expats who have invested and continue to invest here and by the growing middle class in the big cities of Punta Cana who are bored and looking for a piece of paradise at a still affordable price.

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