I just got back from a short trip to the Dominican Republic. This was not an all-inclusive vacation to a fancy resort. Instead, Kurt and I traveled with friends who are in the process of buying a condominium on the island.
What a great opportunity to combine a little business with pleasure.
What We Discovered in the Dominican Republic
The Dominican Republic (DR) shares the island of Hispaniola with Haiti, between Cuba and Puerto Rico. The most popular destination is Punta Cana on the eastern tip of the DR which boasts more than 45,000 hotel rooms and is famous for its upscale resorts.
We flew into Santo Domingo, the state capital, and drove a rental car to Las Terrenas, a small town on the Samana peninsula in the north of the country.
The locals are very friendly, they embrace tourists. The rural parts of the country are still very poor. And, driving can be an adventure with small mopeds passing left and right on narrow city streets.
Dominican Real Estate
As the DR is open to international investment, it is experiencing a real estate boom, especially along the beautiful beaches of the island. Here you can still buy ocean front property with beach access.
Our friends are purchasing a condo in Las Terrenas. It’s a little off the beaten path with more Dominicans vacationing than international tourists.
Modern condos in a gated community with walking distance to the beach start in the low $200’s (that’s US Dollars of course). If you want ocean views you need to spend half a million or more.
Where Can You Search for Caribbean Real Estate?
If you are considering moving to the Caribbean to retire or simply to get a second home, you can start your property search at the RE/MAX Global Website. Here you will find listings from all over the World. It even translates into multiple languages and converts currencies.
We have access to more than 120,000 RE/MAX agents in more than 100 countries. I can introduce you to one of them, so call me with your international purchase plans.
What You Need To Know
Many locals and expats consider the Dominican beaches paradise. They embrace a life style that is very relaxed. So, don’t expect anything to happen quickly!
A great way to make money on your DR condo or house is to rent it as a vacation home. We used AirBnB to lease our condo during this trip. There’s considerable demand, both from international tourists and local residents vacationing on the beach.
It is possible for Americans to get residency in the DR. It takes a while, and you will have to hire a local lawyer to guide you through the process.
Call or text at (614) 975-9650 if want to be introduced to a RE/MAX agent in the Caribbean.
Susanne Novak has been a Realtor since 2007. She is the broker and owner of RE/MAX 24/7 in the Dublin Historic District. Susanne typically helps 50-60 families each year with their real estate needs. She's your trusted advisor when you search for your dream home, and a skilled negotiator when she lists your property to get top dollar when you sell.