Dominican Republic property market

The Dominican Republic has always been in the shadow of the tourist spotlight. Although it shares the same warm, sunny, tropical climate at the Caribbean, beach lovers and tourists have traditionally by-passed the steamy paradise for more conventional shores - which has made the Dominican Republic real estate market a real buyer’s market where foreign investors can pick jewels for little or nothing compared to what they would pay elsewhere.

The Dominican Republic’s economy has recently been doing very well and the government has begun promoting the country’s tourism for the first time ever – two factors which are soon going to bring this island country out of the shadows and into the limelight. Property owners do not pay any real estate tax in the country and land ownership restrictions have recently been eliminated making it easy for foreign nationals to buy and sell Dominican Republic real estate. Although the capital city of Santo Domingo tends to have a few glitches with its electricity, water and garbage removal processes the north coast settlements are not at all bothered by such problems. The government has been investing considerable sums of money recently to fix up the country’s infrastructure and they are slowly succeeding in eliminating all of the little problems that could cause unpleasantness in an investor’s or tourist’s mind.

If you are interested in buying Dominican Republic property, then you should definitely remember that before making any purchases you must do your homework. Talk to the people in the communities in which you are looking to purchase property and find out which agents have a good rep and of which agents you should steer clear. In the small, closely knit communities found in the Dominican Republic you will always be able to find people willing to point you in the proper direction.

Right now Dominican Republic real estate is very affordable. The housing market is only now beginning to see a rise in prices and those increases have been very moderate. As the expected rise in tourism begins, the Dominican Republic property market will definitely see the prices go up. With investors beginning to uncover the latent potential of this tropical island the Dominican Republic real estate market is sure to benefit. Before long this beautiful but by-passed island will have major resort developments, luxury villas and commercial projects dotting its shoreline and inexpensive holiday home purchases will be a thing of the past.

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