Real Estate in Dominican Republic



Dominican Republic’s property market is considered to be one of the best in North America. Aside from the undeniable beauty of this Caribbean country, houses in the Dominican Republic are also affordable considering that they are perfectly situated near stretches of white sand beaches

The residential property market of Dominican Republic is progressing fast due to the boost in tourism and the influx of expatriates who have relocated. Most of the recent constructions are more focused on the ‘high-end’ market where a luxury home has a typical asking price of around USD 100,000. House hunters should also take note that most newly built and desirable properties in Dominican Republic are situated near the prime tourist spots such as Santo Domingo and Puerto Plata where the cost of apartments have risen by double-digit figures.

Buying a Property

In general, foreign nationals are allowed to purchase real estate in The Dominican Republic. The government does not have restrictions in place, and foreigners do not need to have a local partner or be a resident in the country to be able to buy a property. However, foreign nationals should take extra precaution if they choose to have arrangements with realtors and estate agents in The Dominican Republic. They do not have malpractice insurance and do not need any form of license to operate.

Hiring a reputable lawyer is also a must when purchasing real estate in The Dominican Republic. These lawyers must be able to perform an extensive local title search for a property that a foreigner is interested in buying, as there have been cases of fraud with land titles in The Dominican Republic. Furthermore, it is advisable to use escrow accounts together with a lawyer or a title guarantee company when settling payments for the property, instead of paying in cash directly to promoters, real estate agents and timeshare sellers.

Prices also differ depending on the type of property and its location, but expats can refer to the list below for an idea:

  • Santo Domingo

(two to three bedroom house) – USD 150,000

(Beachfront luxury villa) – USD 7,000,000

  • Cabarete

(Ocean front condominium) - USD 120,000

  • Puerto Plata

(apartment price per square metre) – USD 2,400


Those who buy real estate in the Dominican Republic that is worth more than $135,000 are subject to pay annual property tax of 1% of the value above $135,000. Purchase tax is also applicable to those who buy properties, and it is set at 3% of the value of the property bought, with an additional stamp duty of 1.3%.


As mentioned above, a huge number of expatriates have been relocating in the Dominican Republic so one must expect that suitable accommodations can be taken almost as soon as it was advertised. Future tenants should also keep in mind that most landlords only speak Spanish and contracts are also written in their local language. Those who can not speak their mother tongue should bring along someone who can translate for them or hire a local real estate agent for better understanding.

Most lease agreements in the Dominican Republic last for one year, but expats also have the option to negotiate for a month-to-month contract. Deposits are also a norm in the country and landlords usually ask for a two to three months’ deposit and one month advanced payment before handing the unit to the tenant. The price of apartments varies based on their location and below is a list of the costs both inside and outside the city centre: 

  • One bedroom apartment (inside the city centre) – USD 380
  • One bedroom apartment (outside the city centre) – USD 220
  • Three bedroom apartment (inside the city centre) – USD 760
  • Three bedroom apartment (outside the city centre) – USD 390