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Dominican Republic

For the more adventurous, the Dominican Republic has much to offer. It has a great variety of terrain from rain forests, lowlands, coastal swamps, desert, to the highest mountains in the Caribbean that rise to more than 10,000ft above its coastal shores and its incredible beautiful white sandy beaches. The Dominican Republic simply is an array and natural wonder of striking contrasts.

With a population of just over 9 million the Dominican Republic, is about the size of Scotland or the State of Connecticut but yet contains no less than eight international airports. It shares the island of Hispaniola, the second largest island in the Caribbean, with its smaller neighbour, Haiti. The Dominican Republic’s capital Santo Domingo, is the oldest city in the Americas; a cosmopolitan vibrant city with much historic interest and lively nights and charming cobblestone streets in the Zona Colonial district. And yet contrasted to this 3.5 million population capital are the rural villages a mere short drive away.

Real Estate in Dominican Republic
As one of the larger countries in the Caribbean, it takes more than a leisurely drive if you want to see the country of the Dominican Republic. In fact you can take an over-night bag. Thus real estate opportunities are numerous; almost endless and the Dominican Republic offers some of the least expensive real estate and one of the largest percentages of virgin beach front property in the Caribbean.

This coupled with high interest tax-free US Dollar banking and online internet banking access, just makes buying property in the Dominican Republic that much more appealing. Simply put the Dominican Republic is an attractive place for vacation home ownership.

 

And there are no restrictions on foreign ownership of property. Residents and non-residents alike enjoy the same rights.

What is more, new tax incentives encourage property investment. This new law cuts 50% off annual property taxes, abolishes duties on imported household items, and reduces duties on imported motor vehicles.

 

As one of the fast growing economies in Latin America, the Dominican Republic has also one of the most stable democracies in Latin America, with a form of government similar to the one in the United States, with Presidential elections held every 4 years. Its solid infrastructure and lifestyle offers first-class schools and universities, medical care and hospitals, as well as modern shopping malls, superb golf courses, not to mention every type of water sport and hiking delight.

The Dominican Republic’s economy is based mainly on tourism (although agriculture is also a strong contender) with more than 65000 hotel rooms and over 4 million tourists annually that represent more than $1.3 billion in the country’s annual earnings. The ‘D.R.’ as it is affectionately called, is famous for the large all-inclusive resorts that speckle the country’s beachfronts.

Dominican Republic Pesos is the national currency of the country, trading at around 100 pesos to US $35.37. US dollars however are accepted in most tourist areas. Currency converter here.

 

The Dominican Republic occupies a large portion of the island of Hispaniola, in fact the eastern two-thirds of the island. To provide an idea of the size of the country, to go from the capital, Santo Domingo which is on the south shore to the Punta Cana or Playa Bavaro area, the most easterly area of the Dominican Republic or to the North Coast of Puerto Plata will take about 4 hours, the most westerly south shore 3 hours. A drive from Puerto Plata on the North Coast eastward to the Samana Peninsula will also take 4 hours. However, the good news is the Santa Domingan- Samana highway is now complete. What took 4+ hours is now done in less than 2 hours. This in conjunction with the new Samana International Airport has very much opened up the area for development and home ownership.

The Dominican Republic, is mountainous in the central and west, with extensive lowlands in the east. Lake Enriquillo, on the southwestern border, is the largest lake, while the largest rivers include the Yaque del Norte and Yuna. Dozens of smaller rivers and streams run from the mountains to the sea. The rugged Cordillera Central Mountains include Pico Duarte, the country's highest point, which is also the highest point in the Caribbean. Lesser ranges are found on the northern coastlines, and the southwestern border areas with Haiti. So although it may be the Caribbean, in these regions, particularly in the popular mountain retreats of Jarabacoa and Constanza, bathing suits are out and sweaters are in.

In the west side of the country you will find tropical conditions and plant growth, where as in the lowlands of the southeast it is exceptionally dry; wonderful for beach goers alike.

 

So no matter what kind of area you perceive your vacation home to be in, the Dominican Republic has it and with eight international airports, you can be at your vacation property in no time.

The Dominican Republic has 30 provinces, each with their own capital is divided into six (diverse) regions.
CENTRAL REGION
Lush and fertile land is found here amidst the Cordillera Central mountain ranges and the Cibao Valley and includes the towns of Santiago and La Vega. This region attracts nature lovers, cigar connoisseurs and adventurers.
EAST COAST
The most picturesque beaches in the world are here. It is the fastest growing tourist area in the country with the popular all-inclusive hotel packages in the areas of Punta Cana and Bavaro and developing neighborhoods of Cap Cana and Roco Ki. South of here is Bayahibe, one of the most celebrated national parks and the popular historical city of La Romana.
NORTH COAST REGION
Referred to as the Amber Coast this area has lush jungle forests, rolling mountain ranges, crystal blue waters and golden sand beaches providing a versatile playground from land to sea. Also known as the tobacco region. Towns found here are Puerto Plata, Playa Dorada, Cabarete and Sosua and the county’s second largest city Santiago de Los Caballeros.
NORTH EAST COAST
Unspoiled beaches adjacent vibrant coral reefs and mountain waterfalls amidst lush rain forests to the humpback whales at sea make this area ideal for eco-tourists and naturalists. (The Samana region is home to one of the largest and best breeding grounds in the world for this elusive mammal.) Areas are Peninsula Samana, Las Galeras and Las Terrenas
SOUTH CENTRAL REGION
Home to the oldest city in the New World; Santo Domingo is the heart of the country. Vibrant, modern and continental, with contrasts at every turn, from contemporary hotels on ancient cobblestone streets to major US chain retailers and street vendors serving traditional food. Museums, galleries and theaters abound. Popular areas are Boca Chica, Juan Dolio, Zona Colonial. Luxury areas: Arroyo Hondo and Naco.
SOUTH WEST COAST
Undiscovered by many tourists, this peaceful region is the most diverse of all ecologically. Two salt water lakes, one the largest in the Caribbean, make a haven for massive populations of birds and reptiles. And while some sections of the region are mountain rainforest, other parts are pine forest and arid desert. Areas here are: Barahona, San Cristobal, Pedernales, San Rafael and Playa Pedernales.

 

The Dominican Republic provides a change of scenery at just about every turn. Come experience this land of wonder, come to the ‘D.R.’ and call it home.

 

Let Whitten Caribbean Real Estate help in all your real estate needs.  Contact us today.