Property Type: Commercial
Location: Cabarete > North Coast
Protected: Apartment Hotel in Cabarete
$3,500,000
A turn key apartment hotel with a 10 - 12% R.O.I.
Protected: Apartment Hotel in Cabarete
$3,500,000
A turn key apartment hotel with a 10 - 12% R.O.I.
COMMERCIAL
Protected: Apartment Hotel in Cabarete
Property ID – RDR-11481-property
Address – A turn key apartment hotel with a 10 – 12% R.O.I.
Price
US $3500000
Overview
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Property ID :
RDR-11481-property
Featured
Description
Property Features
Property Video
Property On Map
Property on Map
Additional Details
Additional Details
- Renovated: 2014
- Solar Power: 2018
Property Views
Property Views
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Mortgage Calculator
25
Years Fixed
6.95%
Interest
- Principle and Interest
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What people who were once in your shoes have to say
FAQs
Can foreigners buy property in the DR?
Yes! The buying process for foreigners and Dominicans is exactly the same. No matter your citizenship status, you can own property in the DR.
What are the additional costs in a real estate transaction?
Closing costs are typically 3.5% additional to the sales price. 1% would be for the lawyer’s fees and 2.5% go straight to the government for title transfers and taxes.
Can you receive quality healthcare in the DR?
Not only can you receive quality healthcare in the DR, it is very affordable. A standard visit to your General Doctor would cost less than $25 USD without insurance and you can get a top tier insurance policy for $400 USD per year.
Are there additional costs to home ownership?
Yes. Property taxes are 1% per year of the appraised value of the property in the tax office of approximately over $150,000USD. So if your property is officially valued at $200,000USD, you would pay 1% yearly property taxes on just $50,000USD.
How long can I stay in the DR?
The DR’s policy for extended stay of non-residents is one of the most relaxed in the world. You only need to pay a fee if you stay longer than your tourist visa. Your tourist visa from the airport expires in 30 days, so if you leave 30 days – 3 years after your visa expires, you will pay a fee at the airport that is calculated based on how long you stayed.
Do I need to get residency if I own property in the DR?
No. It is just as easy to own property in the Dominican Republic for citizens as it is for visitors. That being said, getting residency in the DR is a straightforward yet lengthy process that can be beneficial for some.
Can I get financing from a Dominican bank if I am not a resident?
For non-residents it is possible to get financing from local banks like Scotiabank or Banco Popular however, it is not common and most property transactions in the DR are cash purchases. Having residency or citizenship in the Dominican Republic can be advantageous when getting financing to buy property.
