Specialising in luxury Caribbean real estate, 7th Heaven Properties offers real estate for sale from across the Dominican Republic. This guide is intended to provide you with an introduction to the Dominican Republic real estate market. Contact us with any other questions or to begin a bespoke search for your perfect property.
The Dominican Republic has a sophisticated second home market driven by a very well established tourism industry. There are homes for sale, ranging from affordable to ultra luxury, in gated communities and beachfront resorts across the country. Popular real estate investment locations in the Dominican Republic include tourist hotspots Sosúa and Cabarete in Puerto Plata province on the northern coast, Las Terrenas in Samaná province and Punta Cana and La Romana on the eastern coast.
There are no restrictions on foreign buyers acquiring real estate in the Dominican Republic. Title can be held in the name of an individual or corporation.
Upon signing a Purchase Agreement, you will be required to pay a 10% deposit which is held in escrow. A notary oversees the purchase process which typically takes 6-8 weeks to close.
There is a Transfer Tax of 4.48% and Stamp Duty.
Property Tax is 1% of the assessed value of the land and home.
Property owners with an income of at least $2,000 per month who invest a minimum of $200,000 in Dominican Republic real estate can apply for “Investment Residency” through a 45 working day process – valid for 1 year. Thereafter, you can apply for “Investment Citizenship” or Permanent Residency.
Most flights arrive in Santo Domingo’s Aeropuerto Internacional Las Américas. There are other international airports, including Punta Cana, Puerto Plata and Santiago.
From North America fly direct from Atlanta, NYC, Orlando, Philadelphia or Toronto.
From Europe fly from Dusseldorf (LTU), Frankfurt (Lufthansa), Madrid (Iberia), Munich (Condor) and Paris (Air France).