Dominican Republic Buyers Guide

The Dominican Republic is the second largest Caribbean country and has become the Caribbean´s most visited destination. Pristine white beaches, tropical rainforests, alpine ranges, mangrove swamps, and even a semi-desert await you!

Real Estate Overview

The Dominican Republic is a magical place with its beauty, miles of powdery beaches, laid-back lifestyle, and friendly people. Many vacationers have the desire to make it their home away from home after spending some time here. Who hasn’t dreamed of owning a vacation home or even permanently relocating to the Caribbean?

If you have been thinking about taking making your dream a reality, then Tanja Hollowell will get you there.

The real estate market in the Dominican has been growing fast for more than15 years, thanks to the growth in tourism and the arrival of several boutique hotels, however, prices have remained stable for some time, creating a buyers’ market with plenty of room for negotiations

Prices per square foot of luxury homes are still very affordable compared to other Caribbean destinations. Many Americans and Europeans choose the Dominican Republic as a second home, buying luxury homes for an easy to reach retreat from their busy lifestyle in the states.

The Dominican Republic has become more attractive to international buyers because:

• The economy is thriving more than ever

• Increased daily flights from both Europe and North America

The Punta Cana International airport is one of the most travelled airports in the Caribbean

• Tourism is on the rise

• A large choice of properties available to suit all budgets

• Welcoming locals, who speak your language

• Beautiful climate with year round sunshine

Buying Basics

Whether your dream home is a new construction or an existing home, you will want to know what to look for as you begin your home search. Tanja Hollowell

will help you conduct a home search, negotiate, and close on a new home. We will help you with the process of buying a home while repre­senting your best interests throughout the purchase process.

The Process

Purchasing property in the Dominican Republic is easy, and here at TaDaG Group Real Estate Professionals and Property Management SRL we will make your purchase experience even easier.

Once we have helped you find the property of your dreams, a preliminary Sales/Purchase Agreement with the owner of the property should be signed, which contains the basic terms and conditions applicable for the sale / purchase of the property. This should be accompanied by a deposit which is typically about 5000 US$ or up to 10 % of the sales price, to be held in an escrow account and released at the time of closing. The Seller is committed to sell the property to you after signing this agreement.

Next step:

The Lawyer / Notary will require the following documentation to process the sale / purchase agreements:

• Full name and particulars of the parties. If the seller is married, the spouse must also sign.

• Two copies of identification are required for each person, (Passport, Dominican I.D. card, driver’s license).

• Legal description of the property to be purchased.

• Purchase price and payment terms.

• Default clause.

• Date of delivery of the property.

• Due diligence required or done.

• Obligation by seller of signing the Deed of Sale upon receipt of final payment.

Notary process may take maximum 6 -8 weeks; the charges vary depending on the complexity of the transaction. You will be contacted by the notary or your TaDaG Group Real Estate Professionals and Property Management SRL broker for an appointment to sign the deed and make final payments prior to the appointment date.

It is recommended that your financing is in place by the time that the official Deeds of Sale / Purchase and Transfer of Property are signed at the notary office.

Closing Costs

When buying a home, the following costs will be incurred by the Buyer.

The closing costs are calculated as follows:

• Transfer Tax – 3% of property value

Notary Fee – 1,5 to 2% of property value

Property Taxes

Properties held in the name of an individual are subject to an annual property tax (“IPI”) of 1% of government-appraised value exceedin the amount of DOP6,800,000. Properties with values below the threshold amount are not taxed.

Dominican Republic Property Investments

More and more people are turning to property investments as a way to make money purchasing property here in the Dominican Republic with the ‘intent to rent’, providing them with a regular income. We have access to numerous properties with proven and checkable rental income. Property rental income can provide higher returns than many other investment opportunities.

Information for International Buyers

There are no restrictions on foreigners purchasing property here in Dominican Republic.

The process of purchasing a property as an international buyer is just the same as it would be for a Dominican resident, however buyers should hire a reputable agent and lawyer so that the process is conducted correctly.

As an international buyer, if you need financing it is possible to obtain a mortgage here in the Dominican Republic, our realtors will be able to assist you with this process


Foreign nationals in the Dominican Republic are classed as either “Resident” or “Non-resident”, the non-resident status are for those who only wish to visit the country for a limited amount of time, for instance if you have purchased a property here for vacation purposes only.

A resident status will need to be obtained for those foreign nationals who wish to stay in the country for an extended period of time.

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