Due to the eternal summer and high endless season (not four to five months, as in the Crimea, Bulgaria, Montenegro or Spain), many foreigners acquire commercial facilities in the resort cities of the Dominican Republic: hotels, restaurants, casinos, surfing, and diving clubs and move there to live and work. The government is interested in the inflow of foreign capital and therefore supports a very loyal regime for businessmen.
As it is known that the most profitable business is investing in those countries where the economic recovery is just beginning, where the investor enjoys rights and benefits. The Dominican Republic has recently become such a country. It gains popularity not only among Western but also among domestic investors. The government of the Dominican Republic encourages foreigners to acquire realty and to obtain residence and citizenship.
Construction materials and the labor are cheap. The cost of a one-storey villa with standard finishing (built-in kitchen, tiled floor, and plumbing), ranges from $ 500 to $ 700./sq.m. The building takes five months for the 100-meter two-bedroom house.
Despite the apparent simplicity, the construction in the Dominican Republic has its own specifics, requires special knowledge, both in construction technology and in permits. Choose construction companies with extensive experience, excellent recommendations, and many successfully completed projects.
Estate Property Lease
Owning real estate in the resort city, for example, Sosua or Cabarete, one may entrust the care of housing and renting to the management company. For example, renting a Villa for $150 000-250 000 brings an average of $100-180 per day or $900-1500 per month for long periods. For an apartment worth about $100 000, you can get about $60 per day or $600 per month for long-term rental.
When buying property only for that purpose, apartments for less than $70 000 and villas, costing below $120 000 should not be regarded. Even spending a month or two in the Villa during the year, it will not only save the maintenance cost but also earn on leasing your second house.