We Love The Dominican Republic & Here’s Why.
Its Beautiful! All of it… well most of it
From the moment I( @MyRealEstatePlug ) touched down, I knew that I had to return, possibly “forever” and I hadn’t even made it out of the airport yet ! The Weather is beautiful as are the women & don’t get me started on the beaches, property and food!I was in La Republica Dominicana for almost 5 days, not nearly long enough, but long enough to know that I had to return… IMMEDIATELY.
I stayed in a hand full of AirBnBs, in Punta Cana & and traveled Westward Towards Santo Domingo, where I stayed for a couple of nights in various neighborhoods. Punta Cana is 100% touristy, which I do have a love/hate relationship with, but as an investor & people person, I have no complaints. Santo Domingo is about a 2 hour drive from Punta Cana and was well worth the trip. Yes, I drove, at night, and yes, I was almost scared for my life! There are crazy drivers in cars, trucks, on motorcycles, on foot going with and against traffic in a seemingly unorganized way, but there is almost always a method in the madness. Needless to say it was a rush and I can’t wait to do it again! I love Santo Domingo because it doesn’t feel as touristy as the resort towns, which I have a strong appreciation for because when I travel places, I want to feel like a local & do the things we do as locals.
History Tidbit, “The Colony of Santo Domingo became the site of the first permanent European Settlement in the Americas, the oldest continuously inhabited city, and the first seat of the Spanish colonial rule in the New World,” and I’m not gonna lie, being on an island Rich with such history made me feel some type of way. Seeing people that looked like my blood, I couldn’t help but imagine the traumas and hardships that my Afro-Domincan people have felt as the result of colonization. Being here and seeing the old architecture reminded me a lot of my surroundings back home in the Bay Area and how a lot of the world shares a similar past. Being here also gave me a strange sense of hope, that with my knowledge and understanding I might be able to make a difference not just here, but as far as my heart, hands and network can reach. Understanding that there is a tremendous amount of opportunity here makes me excited to share & act.
From what I’ve heard from returning tourists and locals, this country is growing and rapidly. Its been consistently drawing a lot of foreign investment and for good reason, Beautiful beaches, weather, people, property, and tax advantages among many other things. It has a reputation for being a tax haven because: There is exemption from taxes on dividends and interest income generated within the county or overseas, foreign buyers can receive a 50% exemption from taxes on mortgages (“when the creditors are financial institutions regulated by Dominican financial Monetary Law”), foreign buyers can also receive a 50% exemption from property tax, partial exemption on vehicle taxes and the list goes on!
Along with the tax incentives, are the income opportunities for investors. Economic growth has been consistent, ranging from 4 to nearly 8% since 2013., just this year in Q1 the economy grew by 5.7%, which is one of the highest in Latin America. The rental market is strong, property values are increasing year over year and construction costs are going up. With All of that being said, if you’re looking for a place with an amazing climate, financial and meteorological, you should definitely consider the Dominican Republic and probably sooner than later!
If you’re considering making a move, please reach out, we’ve got an extensive network that can assist in designing your future the way you see fit!