Currently, despite the coronavirus pandemic, experience shows that buying real estate can be an excellent idea. The numbers don’t lie, and investment in the Dominican Republic generates safe and stable profits over the long term.
According to financial and real estate advisors in the Dominican Republic, the sooner we start investing in real estate, the better. “According to Forbes’ guide to real estate investing, to achieve significant capital gains, one should acquire and hold property for three to five years.” In the Dominican Republic, however, the situation is somewhat different.
When purchasing a property, the client signs a promise (preliminary agreement) in which they pay approximately 60% of the apartment’s value. Upon its handover, the property’s value can reach up to 125% of its original market value. Renting an apartment located in a strategic location can yield up to a 12% return on the property’s value annually. Selling such a thriving investment is unprofitable because the number of apartments in a given location is limited. This will obviously cause apartment prices to rise.
To choose the right investment, it is necessary to consider all essential aspects to minimize risk and maximize investment profitability. In all this, it is worthwhile to choose the right, and above all, experienced real estate expert. They will help us select the best offer during the purchase. The Dominican Republic is a safe market, but as everywhere, you can find people here who want to exploit the exoticism and the buyer’s unfamiliarity with the market.
The Dominican Republic is a market where investors can acquire high-quality rental properties without the need for large initial investments. Furthermore, the Dominican market is investor-friendly. It often guarantees the right to be exempt from property tax and civil law transaction tax. What’s more, only a passport is needed for the purchase.
According to the Global Destination Index Mastercard, the Dominican Republic is the best place for business, surpassing Cancun and Orlando, among others. Moreover, it is a country of eternal summer where society is very friendly to tourists. It is worth mentioning that this is a place that, in addition to beaches, has much, much more to offer.
Jędrzej Pacak
Source: DominicanToday
