DON’T BUY REAL ESTATE IN THE DOMINICAN REPUBLIC BEFORE

 YOU CHECK THIS BUYERS GUIDE

 

 

Many people are interested to invest in real estate in the Dominican Republic but do not have all the information they need and make mistakes. It is very important to know all the facts before you invest. This guide has much information about the Dominican Republic like. Economy, Truism, Climate, Hurricanes, Sports. Activities and much more. We have also a special section with buyers information and of course we offer also the service of evaluating the property, check paperwork and give you additional information about the place you whish to invest.

Generally we can tell you that the Dominican Republic is a safe place to invest, The Political and Economical situation is very stable and the prices of properties are steadily increasing. But there are many things which somebody coming from outside dos not knew and the Real Estate Agents generally do not give you any negative information about any place, since they just want to sell a property. There are many well working Real Estate Agents around and most of them will give you all the information you need but it is still very recommendable to get additional help making the trip into this adventure more secure and more enjoyable. Just remember that this is a very important step into the future.

 

Dominican Republic Economy

Real Estate in the Dominican Republic is a growing and flourishing business. There are a many good possibilities for buying existing Villas/Houses/Apartments or buy in a developing project. As a stable country with a growing economy and a steadily growing tourist industry, the risks are very acceptable. There is never a 100% guarantee in a foreign investment but all the economical and politic indicators are showing a healthy investment environment. The relative stability of the Dominican currency”Dominican Pesos” to the US$ is one of the most important indicators. The internal product BIP is steadily growing and indicates a healthy environment. Also an important indicator is the inflation of a country, during the last year 2007 the inflation was 6.14%.

Currency

Average per year 2005   US$ 29.9965

Average per year 2006   US$ 33.0934

Average per year 2007 US$ 33.0185

Per month 2007

Jan 07   33.7012    Feb 07 33.3618 Mar 07 32.7913 Apr 07 32.2281   May 07   32.1398 June 07 32.4154 July 07 32.9927 Aug 07 32.9035 Sep 07 33.3062   Oct 07 33.4551 Nov 07 33.4079   Dec 07 33.5189 

Price stability/inflation

Average consumer price increase 2006    7.57%

Average consumer price increase 2007    6.14%

Official numbers from the Dominican Republic Government

 

Official numbers from the Dominican Republic Government

 

 

 

For more information’s about the Dominican Economy visit   http://www.bancentral.gov.do/english/index-e.asp

 

The Tourist Industry is growing but more important is that many people decide to come to the Dominican Republic to live or pass the retirement. This has a lot of influence in the daily life in the Dominican. Especially at the north coast in Sosua/Cabarete/Puerto Plata is an immensely growing International community whish lives there all year around. Many people start to prepare the retirement in the Dominican, especially because of the excellent climatic conditions which makes the live for older people much more enjoyable.

Foreign investment in Real Estate is growing, because of the excellent conditions and the steadily growing market.

Duties Taxes and Titles

 

On sales of properties you have generally a 3% (one time) charge and this is usually paid by the buyer. The property gets evaluated by the authorities and you pay  3% on this amount. Generally the evaluations are lower then the real price.

 

Annual Taxes on bigger properties are 1% the government evaluated value. (Usually much less then the real value)

 

When buying a property you must make sure that you check the Title (Titulo) which is the legal document making you the owner of the property?

It is very important to check if there are any depths on the property and that’s why it is so important to work with a serious real estate Agent and lawyer which make the necessary checks.

 

Make sure that all Water. Electricity, Sewage, Garbage and any taxes and fees or dept are paid before you buy the property, all dept will automatically transfer with the purchase.

MAKE SURE THAT THE TITEL IS CHECKED AND NO OTHER CHARGES ARE ON THE PROPERTY

 

 

Dominican Republic North coast climate

 

 

The Dominican North Coast has a very nice climate. It never gets to hot and definitely not to cold. The average temperature in Sosua is 28 C or 84 F. Many retired decide to come here because of the nice winters and not to hot summers. Dominican Republic is on the northern side of the planet and this means that we have the same seasons like in Europe/North America. The seasons are of course not as strong. The Dominican North Coast is very green and has a beautiful Nature. That means that it rains sometimes, most of the year, there is just some rain during the night but some times you can also have 1 to 2 weeks of bad weather. (Bad weather here is good weather for most of the people coming from outside)

 

HURRICANE

 

Very often asked questions are about the Hurricanes. Puerto Plata, Sosua and Cabarete are at the North Coast of the Dominican Republic and in a very privileged position. We have in all records of the National Hurricane Center never had a direct hit. The province of Puerto Plata is in a position which is protected from Puerto Rico Island and from the own land mass. It is always possible that one day we get a hit but it is very unlikely because of the positioning.

LETS EXPLAIN WHY

 

Hurricanes usually form in the Atlantic Ocean coming form the Equator and start to go up in to the Caribbean. As long as they go over hot water masses they tend to get stronger, once they hit land mass they start to decrease.

Scenario.

O Hurricane forms and goes direction Puerto Rico it hits the Puerto Rican Island. Then the Hurricane has to cross the Canal de la Mona which is 7.680 m/25.196 feet deep and because of the very special conditions in the channel it goes either north or south.

If the Hurricane goes south it hits the south coast of the Dominican Republic. Some times the Hurricane start to go north and crosses the Island but doing this they decrease and come only as week storms to the north coast.

The Hurricanes, who go north, get from the currents in the Canal de la Mona pushed up far north and usually do not hit Sosua, Cabarete and Puerto Plata.

 

Of course there is no total guarantee that we never get a Hurricane, but is there anywhere in the world a place where there is no severe weather?

Is the Dominican Republic Safe to life?

 

Many investors ask this question. Yes there is crime in the Dominican Republic like everywhere in the world, but comparing to other countries the Dominican Republic is quiet safe. The Dominicans are basically not very violent people and if there are robberies, there is mostly no violence involved. The Police is not very effective and the Legal system is not working very well, but things are getting better. It is one of the countries where you  can still go out during the night and have fun without the need to be afraid.

We make the following recommendations

If you buy property buy it in a well working gated community, there are many well working gated communities offering houses Villas and apartments. Ask especially how many problems that the community had with robberies. There are several regions where we do not recommend buying, because of the high frequency of robberies. Especially if you do not life all year around it is very necessary to be in a well organized community. Some of the organized communities also offer rental service, by renting out you have several benefits, you make some money with your property and have somebody living inside. After each client the property gets usually checked and maintained. We do not recommend having a property empty for most of the year, since humidity in a closed property can make many damages.

If you live all year around in your property, you do not absolutely need to live in a gated community, but need really to consider where you buy. There are many regions where we would not recommend buying property. If you buy in such a part your resale value is mostly much lower than in a safe place. Many investors decide to have there own safety guards, this can make sense if you are a group of houses properties together and it could be less expensive then a gated community but it is very difficult for find reliable people for this job. Many times the own employees are the reason for security problems.

 

A good alarm system is also recommended, this allows you to have your property in a safe way, and there are many different systems that make lots of noise or even call some emergency phones automatically.

Good fens are also very recommendable, it makes it more difficult to enter and leaf the property. It can be quit expensive to make good fens around the property and considering all this, we still think that a gated community is a better Joyce.

 

Many people live for many years here in the Dominican Republic and never had any problems. It is generally very safe but precautions are always good. A safe gated community gives you many advantages and makes you feel better.

Health and other insurances

 

 

There is a governmental a private health Insurance system. Those insurances do generally cover most of the accidents and sicknesses. We still recommend an International Insurance which gives you much bigger coverage then the Dominican.

You can also Insure your home or property, several local Insurance Agencies offer all kind of Insurances, covering your needs. It is very expensive to have insurance for beachfront properties but some agencies are offering those services.

 

 

 

Sports

 

Many sports are offered directly in Sosua/Cabarete /Puerto Plata or are in a reasonable distance.

 

Golf

 

There is a golf field in the Playa Dorada complex which has 18 holes. A very nice golf field for all levels of Golfer.

The Golf field of Costa Azul has only 9 wholes and is more for a beginner level.

The very best Golf field is in Playa Grande one f the top 60 Golf fields worldwide. A beautiful place directly at the seaside and with stunning views over the ocean.

There is also a Golf field in Santiago, which gets mostly used from Dominican. Nice 18 whole field.

http://www.playadoradagolf.com/

http://www.wyndham.com/hotels/POPPD/golf/grande/main.wnt

http://www.dominican-rep.com/golf/index.html

 

Riding

 

There are many places offering riding for tourists and also for residents. They offer also stables for your own horse. Professional care is available. Several stables offer full service and take care about the horses; they even ride them for you if you want.

Equizoo oxa@codetel.net.do  809 298 6210

Sea Horse Ranch , Sosua-Cabarete 809 571 3880

El Choco

Scuba Diving

 

Scuba Diving is mostly offered in Sosua. A very calm bay with beautiful tropical coral reefs and fishes.  There is also diving offered in Cabarete and Puerto Plata but they dive generally also in Sosua.

You can also do some special diving like Night, Deep, Wreck, Wall and Coral dives, all this is offered by numerous Dive Centers in Sosua and surrounding.

The Cave dive in Cabrera is especially attractive for advanced divers and is also offered as a tour from the Dive Centers.

Our recommendation is The Big Blue Dive Center in Sosua.

http://www.big-blue-diving-sosua.com/

Mountain biking

 

Mountain biking tours for beginners or rock hard bikers are offered by different companies in Sosua and Cabarete. The beautiful mountains and views make this a must for every sports person.

We recommend mountain biking tours. Small groups and good tours.

info@dominican-republic-sosua-real-estate.com

Hiking

 

The surrounding of Sosua/Cabarete have some nice hiking trails. Many rivers and mountains with stunning views.

Sosua offers nice hiking tours and tours to incredible waterfalls.

info@dominican-republic-sosua-real-estate.com

 

Cannoning

 

Just 40 min from Sosua are some incredible waterfalls for cannoning. For all level of adventure persons.

Tours are offered in Cabarete.

http://www.iguanamama.com/cascading27.html

 

Yasica adventure also offers also zip line tours.

http://yasicaadventures.com/

 

Fishing

 

Deep see fishing is offered from Sosua and Puerto Plata. Have day or full day tours. There are also many residents who have there own boats and go fishing by themselves. It is not the best fishing place but depending of the season you can catch some nice fish. There is also some sweet water fishing in the rivers and the lakes/lagoons.

Contact info@dominican-republic-sosua-real-estate.com

 

Wind Surfing

Cabarete is one of the best known windsurf surf beaches. There are many international competitions in Cabarete and the best conditions for beginners up to the absolute professional level. Many surf centers are directly in Cabarete at the beach. Professional Instructions and all level of equipment are offered.

http://www.caribwind.com/

http://www.cabaretewindsurfing.com/activitiesquicklist.php?http://www.cabaretewindsurfing.com/mistral

http://www.cabaretewindsurfing.com/activitiesquicklist.php?http://www.happycabarete.com

Kite Surfing

Near Cabarete is the Kite Beach, one of the best Kite surfing beaches worldwide Instructions and equipment is offered directly at the beach.

http://www.cabaretewindsurfing.com/activitiesquicklist.php?http://www.happycabarete.com

http://www.cabaretekiteboarding.com/quicklist.php?http://www.kitexcite.com

http://www.cabaretekiteboarding.com/quicklist.php?http://www.laureleastman.com

http://www.cabaretekiteboarding.com/quicklist.php?http://www.myskyriders.com/en/destinations/home/5/genInfo

http://www.cabaretekiteboarding.com/quicklist.php?http://www.kitelounge.com

Wave Surfing

 

At the Encuentro beach you fid the place to go wave surfing. Very good conditions for beginners and intermediate level. Very nice place for individuals. Equipment and instructions are directly at the beach offered.

http://www.activecabarete.com/cabarete/index.php?http://www.noworkteamcabarete.com

http://www.activecabarete.com/cabarete/index.php?http://www.321takeoff.com http://www.activecabarete.com/surf

Sailing

 

In Cabaret they offer small sailing boat for rent. Nice conditions for experienced sailors. For bigger boats you need to go to Luperon. (ap.r 1 hr 20 from Sosua) There are many big sailing boats and possibilities to go really sailing.

http://www.caribwind.com/

 

Kayaks

 

Many hotels have Kayaks to rent. But the best is Kayaking in the Lagoon of Cabarete or on the nearby rivers. It’s a paradise for Kayakers.

 

offers Kayak tours in the Cabarete Lagoon and on the rivers.

info@dominican-republic-sosua-real-estate.com

River Rafting

 

In Jarabacoa you can make River Rafting, for beginners and intermediate level. It’s really fun and something you have to do. They also offer canoeing for more experienced persons, which increases the fun.

http://www.ranchobaiguate.com/ranchobaiguate/english/index.asp

 

Beach Volleyball

Beach Volleyball is very popular on the Cabarete beach. Many locals and tourist play nearly every day on the beach. Beach volleyball tournaments are often offered by the bars on the beach.

 

Soccer

There is a soccer club in Sosua. They train several times a week and participate in tournaments. Soccer for children is also offered. A nice thing to do and a good place to get contact.

Contact Ernesto  809 981 79 66

 

Baseball

Dominican Republic is the Mecca of Baseball, in every corner and small village you find a baseball field and some good players.

 

Basketball

 

Basketball is also a very popular sport in the Dominican. You find many basketball fields and clubs.

 

Karate

In the International School of Sosua is a big Karate Club. Very good level for beginners up to professional level.

Contact Oscar 809 383 0472

 

Gym

 

Several GYM s are in Sosua/Cabarete with lots of possibilities.  Not only machines, also aerobics spinning and many other possibilities are offered.

Between Sosua and Cabarete in the Ocean Village is a new Golden GYM.

www.sosuaoceanvillage.com  

Other sports

Many other sports are available; this is just a short list. Yoga, ballet, swimming, snorkeling, water sports, mini golf, billiard, and much more are offered in Sosua/Cabarete.