Buying Land in the Dominican Republic – The Ultimate Guide
We have put together this guide for investors looking at buying land in the Dominican Republic.
Whether you are looking for a small to lot to build your dream home or a larger parcel of land for residential or resort development, this guide is designed to cover all aspects of acquiring land from finding land for sale in the Dominican Republic to the details of the purchase process.
Guide to buying land in the Dominican Republic
Contents
Is Buying Land in the Dominican Republic a Good Idea?
How Much Does it Cost to Buy Land in the Dominican Republic?
Can Foreigners Own Land in the Dominican Republic?
How Do you Buy Land in the Dominican Republic?
Where are the Best Places to Buy Land in the Dominican Republic?
Investment Opportunities – Explore Land for Sale in the Dominican Republic
Is Buying Land in the Dominican Republic a Good Idea?
Buying land in the Dominican Republic offers investors the opportunity to own a slice of a spectacular country with breathtaking beaches, picturesque bays and dramatic mountains that draw millions of tourists every year.
In recent years the Dominican Republic has emerged as the Caribbean’s leading tourism destination, with an average annual growth of 5% in tourist arrivals between 2012 and 2019.
Purchasing land in the country – whether a small home site for living in the Dominican Republic or a large parcel for commercial development – offers buyers the opportunity to tap into this growth and benefit from the rise in land value that is expected in the most sought-after areas.
Find out more: Why invest in the Dominican Republic?
How Much Does it Cost to Buy Land in the Dominican Republic?
The cost of land in the Dominican Republic varies according to various factors such as location and perceived value.
Smaller lots in inland areas just a short drive from the beach can be snapped up from as little as $50,000.
Beach view lots in areas popular with overseas buyers start at $100,000 to $150,000.
Larger parcels of land for residential or development are available from approximately $1 to $1.5 million.
Can Foreigners Own Land in the Dominican Republic?
Yes, foreign nationals can buy land in the Dominican Republic and the Government of the Dominican Republic welcomes foreign investment.
There are no restrictions on foreign buyers owning land in the country and foreign buyers enjoy the same rights as Dominican citizens, including the right to buy homes for sale on the beach.
Unlike in many other countries in the Caribbean and Central America, foreign buyers are not required to obtain any kind of license or permit in order to purchase property in the Dominican Republic including parcels of land.
In fact, the country offers a range of incentives for foreign buyers looking to retire in the Dominican Republic.
Land can be purchased in the name of an individual or a corporation which can offer tax benefits and accelerate the sales process.
How Do you Buy Land in the Dominican Republic?
Buying land in the Dominican Republic is a relatively straight-forward process.
Once a buyer has found a property he/she wishes to purchase and his/her offer has been accepted by the seller, the buyer should engage a reliable local law firm to conduct a title search and ensure there are no legal issues with the property.
Assuming there are no legal issues, the law firm will draw up a purchase agreement which must be signed by both the buyer and the seller.
The purchase agreement will outline the details of the transaction including the agreed price and payment terms. The buyer will typically be required to make payment of a 10% deposit to secure the property.
The buyer will need to engage a local notary to assist with the transaction.
The buyer will then need to transfer the balance into an escrow account held by the notary until such time as title to the property is transferred to the buyer and registered in the Dominican title register.
For more detail on the purchase process, please see our guide to buying property in the Dominican Republic.
Where are the Best Places to Buy Land in the Dominican Republic?
So where are the best places to invest in land in the Dominican Republic? Well, that depends very much on your personal preferences and objectives.
Commercial Investors – Where to Buy a Large Parcel of Land
For commercial investors looking at creating a residential or resort development, the Punta Cana area (including Bavaro, Punta Cana and Cap Cana) is, by far, the most popular area for visiting tourists. This part of the country therefore offers tremendous opportunities for generating a significant Return on Investment but much of it has already been developed.
For those looking to initiate development in a less developed part of the country, there are numerous opportunities in locations such as beautiful Samana on the northern coast.
Residential Buyers – Where to Buy a Home Site
For buyers in search of a home site to build a villa within easy reach of beaches, golf courses and the airport, Punta Cana, Cap Cana and La Romana are very popular choices. Fans of surfing, love Cabarete while for those looking to enjoy a quiet life away from the crowds beautiful Las Terrenas in Samana could be ideal.
Find Out More
For more details, please read our guide to the best places to buy property in the Dominican Republic.
Investment Opportunities – Explore Land for Sale in the Dominican Republic
Ready to begin your search for land for sale in the Dominican Republic?
To find lots and parcels from across the country, explore land for sale in the Dominican Republic on our website.
Please note that our website only showcases a limited selection of the lots and parcels of land available.
Contact 7th Heaven Properties, the Luxury Caribbean Property Specialist, to explore the full range of land investment opportunities in the Dominican Republic.