Investing in Property in the Dominican Republic
Why Canadians and Americans are Buying Property in Las Terrenas Dominican Republic
Of course the initial desire is to own property that is a good and sound investment, but more and more people are looking at the larger picture of life and life style for now and in the future for themselves and their families.
The one attraction is looking for a location to retire that is warm and sunny far away from the cold of Canada. We hear this a lot of our Canadian clients that escaping the long cold winters is number one on the agenda!
Las Terrenas on the Samana Peninsula in the Dominican Republic with its great all year round climate that averages 80 degrees is just about perfect its never too hot and never gets cold, although in the winter when its 75 degrees you will see Dominicans with quilted Puffa jackets on and woolly hats. that would not look out of place in Canada.
The other great thing is that there are scheduled direct flights from most major airports in Canada to Samana International AZS at El Catey which is less than 20 minutes drive to the centre of Las Terrenas, so getting here is no problem.
Americans in some areas want to escape the cold but in areas such as California who we see a lot of buyers its from its taxes!
These buyers are cashing in larger homes and investing here in Las Terrenas they love the climate and the costs compared with the ones back home are cheaper.
Other Americans have just had enough of the rat race the pressure of city business and the daily commute, the are looking for a big life style change for the better.
Getting here is a little more difficult as they have to fly into Santo Domingo SQD but the drive is less than two hours to Las Terrenas.
We are hoping next year that Jet Blue will put back its flights from New York JFK and Spirit will add the promised flights from Fort Lauderdale direct to Samana International AZS.
The Dominican Republic offers a stable government we have just had the 2016 election and the same party and President are back in power this is good for the economy and foreign investors in property.
There will be continued investment by the government in the already good infrastructure of both services, travel and communications in particular the internet this is all great reasons for Investing in Property in the Dominican Republic.
Property prices and living costs are comparably cheap compared to Canada if you look at our page Living Guide You will see lots of great information about daily living costs and services.
Las Terrenas has over 17 miles of beautiful beaches and warm turquoise seas no high rise buildings and a cosmopolitan town with almost 30 nationalities living and working in harmony. see our page about the local area and the Samana Peninsula
These are a few of the reasons why Las Terrenas is seeing a growing Canadian and American expat community with families moving here full time.
We have some great Canadian and American owned restaurants and bars that are the ideal place to meet other English speaking expats from around the world.
Rental returns are a major factor of why people buy not only in Las Terrenas but the whole of the Dominican Republic with average occupancy levels at 70%. So for those owners that can only afford to spend a few weeks a year in their property they are secure in the knowledge that the property will make them money.
We have clients that are making over US$40,000 a year net on an initial US$250,000 investment!
Property prices can vary from US$70,000 to US$10 million but most of our buyers tend to want to spend between US$150,000 to US$400,000
These prices will get you a nice apartment or family home either in a gated development of a stand alone dwelling, dont forget that the property will appreciate in value considerably!
Those owners who choose to rent out their property should do so as a short term vacation rental, I would suggest a minimum stay of two nights any more than this will reduce the strong long weekend rental market from the wealthy Dominicans who come drive to Las Terrenas from Santo Domingo as its less than two hours away.
You should expect to get anywhere from US$75 to US$500 a night dependent on the property, size, location and facilities.
A lot of apartment developments offer a rental pool scheme they will vary in what is included.
Other options are rental companies there are many in Las Terrenas with fees ranging from 15% to 20% of the rental income.
Of course you can go it alone using online rental companies such as AIRBNB HOMEAWAY TRIPADVISOR to name but a few.
The type of property that a lot of our buyers are choosing are single family houses and apartments close to the beach.
A home like any will require maintenance and repairs, cleaning the house, pool and looking after the gardens.
If they dont offer cleaning services then again you will have to look at property management services.
We offer management services Please contact us for more information and prices for your property.
We are also seeing a large interest and orders of bespoke construction property on lots and larger land parcels from people Investing in Property in the Dominican Republic.
We currently have two clients going ahead with new build construction properties see our other company LT-PROPERTY SERVICES
We offer free initial budget quotes for any type of property.
The best locations to be Investing in Property in the Dominican Republic are of course subjective to personal taste and life style requirements, but you can not go wrong with properties in gated communities, property located beachfront or close to the beach and of course Ocean View property.
If its for rental income then you should think of what you would want if you went away for a week or two what type of place, location and facilities would you expect!
Would you want to have to hire a car if so would this be an issue or would you want everything within walking distance.
Would you want to be in the heart of the own near all the action and noise or away in the hills with fantastic views and no noise.
Our average buyer is between 40 and 65 some with young families, Las Terrenas is not a Spring break party town its more suited to this age group i should know being 52.
The life style here is laid back its about enjoying beach life a few beers and good food with friends life here is what it used to be like when we were all kids.
Life here is everything that its not back home its about going back to the simple things, to family values to knowing and caring for your neighbors and friends, to being helped by total strangers and doing the same in return.
Please come and see why Las Terrenas is attracting Canadians and Americans and why they are Investing in Property in the Dominican Republic
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