How to Buy a House in the Dominican Republic
Why Invest in Real Estate in the Dominican Republic?
The Dominican Republic attracts more and more expatriates and real estate investors due to its pleasant climate, stunning beaches, and stable economy. If you are considering buying a home in the Dominican Republic, it is essential to understand the process.
Purchasing a property here offers both personal and financial advantages. Not only can you enjoy the sun, beaches, and various activities, but you can also acquire your dream home in a breathtaking setting. Additionally, renting out your property can generate passive income, thanks to the high demand for vacation rentals in the region.
A Profitable Investment
Buying a house or apartment in the Dominican Republic can be an excellent investment for several reasons:
✔ The country’s stable economy fosters a favorable business climate, including in real estate.
✔ The growth of high-end tourism opens new opportunities, particularly for luxury vacation homes.
Steps to Buying Property in the Dominican Republic
Choosing Between Off-Plan or Ready-to-Move Properties
- Off-plan purchases: You pay an initial deposit and sign a contract, then make installment payments during construction. The final payment is due upon key handover (financing options are available for foreigners).
- Ready-built properties: The payment consists of a deposit (20-40%), with the balance payable in full or through bank financing.
Signing the Purchase Contract: A Secure Commitment
A notary-drafted contract formalizes the transaction, including:
✔ Purchase price
✔ Payment terms
✔ Property details
An attorney should review the contract to ensure it protects your interests and complies with Dominican law. Upon signing, you will typically pay a deposit of 10-20% of the purchase price.
🏡 Perez Real Estate assists you throughout the entire buying process, from finding reliable professionals to finalizing your move.
Financing a Property: Obtaining a Mortgage
If you require a mortgage, consider working with local banks offering competitive rates to foreign buyers. Ensure you have the necessary documents, such as:
✔ Valid passport
✔ Income statements
✔ Bank references
Additional Costs to Consider
Beyond the purchase price, buyers should account for extra costs, including:
Legal Fees (Notary & Lawyer Fees)
💰 0.25% – 1% of the property price
These fees cover contract drafting, property registration, and administrative procedures.
Title Transfer Tax
💰 3% of the sale price (unless exempt under the CONFOTUR law)
This tax must be paid within 6 months of receiving the keys.
✔ Real estate agent commissions are paid by the seller, not the buyer.
Buying Through a Company: Is It Possible?
You can purchase property under your name or through a company. Each option has its legal and tax advantages, so it is advisable to consult a local attorney to determine the best choice for your situation.
Where to Buy Property in the Dominican Republic?
The best location depends on your investment goals and lifestyle:
✔ Las Terrenas & Bayahibe: Ideal for real estate investment and vacation rentals.
✔ Punta Cana: Perfect for those seeking a cosmopolitan lifestyle with modern amenities.
Ready to Buy a Home in the Dominican Republic?
📞 Make Your Dream a Reality with Perez Real Estate!
Perez Real Estate will guide you through every step of your home-buying journey in the Dominican Republic.
✔ Personalized property searches
✔ Legal and administrative guidance
✔ Tax consultation and financing assistance
✔ Trusted local partnerships for a seamless buying experience
📩 Contact us today and find your perfect home in the Caribbean!
