Dominican Republic

Comprising approximately two-thirds of the island of Hispaniola, the Dominican Republic is located just west of Puerto Rico and just east of Cuba in the northern Caribbean. It is the second largest and most populous country in the Caribbean Sea, second only to Cuba (18,765 sq. mi./48,730 sq. km. and 8.8 million people). Spanish is the official and dominant language. Few Dominicans speak any other languages - this includes English.

The official currency is the Dominican Peso but, as an accommodation to practicality, US dollars are accepted in most tourist-frequented areas. The time zone is Atlantic Standard Time/Greenwich meantime minus 4 (the same time zone as eastern time in the US during daylight savings time) and they are on the metric system. Most cars, roads, homes and general infrastructure are rough and outdated. Driving is not for those with weak hearts. Electricity is mostly North American standard 110-120. Food and water supplies are iffy, but slowly improving and fairly good in touristy areas. The economy is varied and the largest in the Caribbean. Tourism-related employment is roughly 1/7th of the economy. Corruption, delays and inefficiency are pervasive throughout much of the economy.

The average daily high is around 88-98 degrees Fahrenheit (25-33 degrees Celsius), year-round and water temperatures remain fairly steady and warm. Driest months are typically from February to April and, unlike much of the Caribbean's brief showers, the island frequently receives persistent, more than moderate rains, particularly between June and November… and yes, hurricanes are possible. The island has diverse topography, including mountainous areas, mostly in the north. Access is via frequent direct flights from the United States, Puerto Rico, Jamaica, St Maarten and other international destinations into Santo Domingo - Las Americas International (SDQ), the second busiest airport in the Caribbean basin to San Juan, Puerto Rico. Punta Cana International (PUJ), on the easternmost point of the country, now sees many direct scheduled and charter flights, as well. The Punta Cana area is home to dozens of all-inclusive, beach resorts catering to tourists and they tend to prefer avoiding Santo Domingo and flying direct into PUJ. Smaller airports in Puerto Plata (POP) to the North and others (La Romana and Santiago) are seeing increases to their traffic as well.

Location: WITH MAPS OF CARIBBEAN AND AREA

The Dominican is located in the northeastern Caribbean with the Atlantic Ocean bounding it on the Northern side. Neighboring islands are: Cuba, the Bahamas, Puerto Rico and - the other third of the shared island of Hispaniola - Haiti..

Location of the Dominican Republic in the Caribbean

Map of the Dominican Republic

The tax and land use landscape of the Dominican Republic:

Prospective buyers can factor-in 3% of purchase price government tax, 1% document tax and about 1% going to the buyer's lawyer to close the purchase and obtain title (total fees around 6%). Closings typically take place within 30-90 days and are, almost always, all cash. Approximately 90 days after closing, the buyer's attorney will have had the title officially transferred. Recently, real estate prices and overall interest have seen significant upswings. The sprawling Cap Cana development, along with myriad other resorts on the east coast in the Punta Cana area have seen the largest increases in activity.

It is fairly easy to obtain residency in the Dominican.

OWNERSHIP AND TITLE INFORMATION

Ownership is either fee simple (as in most of the US) or long lease – either government or private. A side note on utilities: all modern amenities, including high-speed internet access and wireless phones are available mostly in larger developments or in the most populated areas. Typically, a substantial deposit is required for service for non-residents - expect somewhere between $1-3,000 US to establish service. They did this because of difficulties in getting non-residents to pay bills. The deposit is typically transferred upon the sale of the residence. Utility companies on the island are notoriously unreliable and corrupt, but again, the larger resorts seem to have worked-around most of the typical problems.

AREAS:

La Romana (South, Southeast) - Casa de Campo's Marina Chavon is considered excellent and there are numerous residential options here.

Punta Cana/Cap Cana (East) - mostly all-inclusive hotel/resorts, but also the Cap Cana and numerous other high-end developments. Numerous, excellent, new golf courses, from well-known designers are now complete or underway. Cap Cana alone is scheduled to have over 3 miles of beaches, 3 Jack Nicklaus' designed golf courses, a marina, a casino, polo grounds and, reputedly, both a Ritz-Carlton and a Trump hotel property. Beaches here are considered to be the DR's best and some of the nicest in the Caribbean.

Samana (Northeast) - a number of smaller residential communities are springing-up in this area.

Cabarete/Puerto Plata (North) - residential options are widely varied from vacant lots, shorefront, small to mid-sized communities and the like.

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