Everything You Need to Know About This Dream Investment on the North Coast of the Dominican Republic
Introducing LAGUNA CITY by Sosua Ocean Village
Sosua Ocean Village is a place that meets all of your tropical dreams and community expectations.
Picture this: you turn the key and open the door to a brand new, modern condo in the Caribbean. A flow of fresh sea breeze and natural light fills up the room and you automatically thank yourself for taking this step in owning real estate in paradise.
Realtor DR offers its clients the exclusive on this novel space. Realtor DR can offer an infallible ‘take you by the hand’ process, answer all your questions, and help you make a seamless progression into owning in paradise. And that’s what you’re looking at with Laguna City in Sosua Ocean Village.
For some, the idea of owning a property in a modern gated community in the Caribbean is too far off or crazy to consider. However, with Laguna City it’s quite the contrary, let’s see what it’s all about.
Something For Everyone
Laguna City has something to offer for pretty much everyone. Whether you’re a digital nomad, AirBNB investor, water sports enthusiast, retiree, or vacationer looking for a getaway home in the Caribbean, Laguna City is a great option. This project is set in a prime location with city centers and international airports close by, all of the accommodations you can think of within the SOV community, dependable infrastructure, and an affordable price that offers incredible returns on investment.
Property owners in Sosua Ocean Village come from every corner of the globe. With a great mix of Dominicans, North Americans, and Europeans this truly is a cosmopolitan community.
Where do SOV Property Owners come from?
History of Sosua Ocean Village
An Exclusive Oceanfront Neighborhood
Sosua Ocean Village has demonstrated an incredible business model that caters to both the local and the tourist. When we talk about smart investments, we need to analyze the developer, so that’s what we are going to go over in this next section.
Over the years Sosua Ocean Village (born in 2006) has demonstrated a solid history of growth in terms of development and amenity expansion. In 2007 they began their 54 condo and 11 studio construction, all units still being happily occupied and appreciating in value steadily over the years. In 2009, the Club House opened – in 2012, 13 & 14 they started building Campo del Mar I Villas (22), Plaza de la Danza, Villas Marinas (77 lots) and Villas Las Palmas (36 lots). By 2015 we saw SOV kick off the Villas Garden Dream (22 lots) and Ocean Village Deluxe’s construction (23 luxury villas + 6 condos), the latter being done within 2 years.
In 2017 SOV started Villas del Mar II’s 24 villa construction, and from then until now they’ve opened the Laguna SOV waterpark and started and completed the Esmeralda construction, the prototype for Laguna City buildings. You can see one of these Esmeralda Units for sale today at an appreciated price since the date of completion.
Just recently in 2022 Sosua Ocean Village broke records with the completion of their beautiful Santa Fe Restaurant with gorgeous waterfalls, restaurants, aquarium, cabanas, pools, and the largest infinity pool in the Caribbean!
Sosua Ocean Village: An Infrastructure You Can Count On
Sosua Ocean Village comes with an infrastructure and territory of more than 160 acres with entrance to its own coastline. Various solar powered shuttle buses go around SOV offering non pollutive means of transport and connecting the different phases and buildings with the many common areas.
A 24/7 electricity as well as 24/7 security system is rendered on all the land, along with video cameras, back-up water, central sewage system, and sidewalks and bike paths make SOV a spot of comfort and freedom to wander around at all times. ]
2400 solar panels assist with sustainable energy use and there is an onsite ATM for money dispense without leaving the territory.
All the amenities!
This world class property is nothing short of kids playgrounds, restaurants, an indoor/outdoor gym (with 68 machines), a safari park, a small beachfront bar called El Barco with private ocean access. There is an extraordinary Casa Club with attractions for everyone in the family with an array of swimming pools and outdoor areas. SOV also has 3 restaurants (Maria’s, Laguna SOV, & Santa Fe), a sports ground (of volleyball, basketball and a mini football court), kids entertainment center, and within Laguna SOV there is a fishing lagoon. There are 4 tennis courts both indoor & outdoor, an ocean view spa, and smaller waterpark free to residents. Can we say ‘wow!’ now?
What will Laguna City include?
1 bedroom apartments & studios in 3 different sizes.
Starting with the first phase of the project there will be 3 of 27 condominium buildings being built in the first year totaling 55 units for this first roll-out.
All the communal areas of Laguna City will be built before the completion of phase one so that every future resident will be able to access the 26,000-m2 haven of tropical flowers and plants, pathways and pools. Inspired by Central Park in NYC, Laguna City was designed for going on promenades on shaded walkways with various native trees surrounding sitting areas and parks.
Individual studios and apartments will be built in 3 different sizes: 41m2, 47m2 and a 1 bedroom unit of 59m2.
On the island’s stretch there are plans for an observation deck, a beautiful kid’s playground with age-appropriate fun and safe facilities, plus a barbecue space – all close to dazzling water views. Diverse pedestrian bridges will connect the island’s general territory with the rest of the village area.
50% down and the other 50% is financed over 5 years at 6.5% interest with no penalties for early payoff.
SOV is offering Laguna City investors a flexible payment plan with financing for up to 5 years. Here’s how it works: After reserving your unit for $5600 USD and due diligence, you make 2 payments equalling 50% down. The first payment is made 5-7 business days after reserving your unit, at this point a promise os sale is signed. Then, when construction commences, you make the second payment totaling 50% of the purchase price. Then the other 50% of the purchase price is financed over 5 years at 5.6% -once you get the keys to your property the payments begin. For a detailed breakdown of the financing payments click here. For other properties offering financing click here.
The tariff includes 24/7 security, basic water consumption, garbage removal, landscaping, and general maintenance in the common areas of Laguna City, and all the amenities Sosua Ocean Village offers. The fixed base monthly price of electricity is 25 USD extra consumption of both water and electricity are paid for accordingly.
We recommend you to jump in on the special pre-construction prices pronto!
Do You want to see what these units will look like? SOV already built and finished the prototype for this project in 2022 and many of our clients saw great returns by investing in the pre-construction prices! Here’s an example of a one bedroom vacation condo in La Esmeralda.
High Rental Returns
The Cap rate here is at least 12%
As a business move this an attractive property to rent out on AirBnb or any other platform as a passive income until your return to the North Coast. After calculations, most of these condos can give an annual income of 17,000 USD to 30,000 USD, and a net profit from anywhere between 14,000 USD to 25,000 USD per year. So, a new property in a prime location? The Cap rate here is at least 12%. Here is a great resource about what a Cap Rate is and why we use this formula to show why Laguna City is a sound investment.
In Laguna City there are several studios available starting at 109,000 USD.
And exactly how much do you need to reserve for this amazing project? You can get the ball rolling for just 5,600 USD ($5,000 towards the purchase of your property and $600 USD as lawyers fees.)
A fabulous starting point for visionaries and everyone looking to make a profit in the near future.
Tax exemptions, anyone?
You may not be aware of it yet, but one of the main attributes for this project is that Laguna City has CONFOTUR certified building plans. This means the Council of Touristic promotion (CONFOTUR or Consejo de Fomento Turístico) is in charge of applying the Tourism Incentive Law 158-01 to encourage development in tourist locations
and other areas with great potential. CONFOTUR has the faculty of classifying tourism projects or its activities that will give benefits to projects contemplated under this law. And in this case, it translates to tax exemptions on transfer taxes, property taxes, and income tax on rental income.
CONFOTUR benefits are set for the first owner of the property for 15 years.
And top it off, foreigners with this certification can apply for a residency visa and residency under any category (no matter on the property size) whereas before, foreigners could only apply for residency after making an investment of at least 200,000 USD in real estate.
So, you can rest assured, the Laguna City project is as win-win as it gets.
“It was an awesome experience! All the work was really done by the Realtor DR team. It was all very transparent and simple, the paperwork was similar to the ones I’m used to seeing in Canada so I was super comfortable with all of it. Overall it was fantastic and we’re taking steps to duplicate it to get more business into the Dominican Republic. Any company that can assure the level of ease and trust like Realtor DR is doing, is well worth the case. They’ve got a great thing going for them.”Scott Hundey, SOV Esmeralda Investor
Bottom line: In terms of investing, the benefits here are very impressive. You’ll have a brand new space, with various incentives as an investor, a ton of amenities for you or your clientele, and lets not forget this property is just steps from the beach.
Hopefully by now you will agree that Laguna City is a fabulous dream actively making its way to reality.
However, as with all dreams – it’s time to wake up and take the next step. Got questions? We’re here for you.
If any of these benefits appeal to you and you wish to know more about the magic of Laguna City, get in touch with our trusted Sales Specialists!
Written By: Adriana Badía