By Robert Maceachern | President of RealtorDR
Dreaming of waking up to turquoise waters, warm breezes and your own piece of Caribbean paradise? In the Dominican Republic, that dream is surprisingly easy to achieve. Buying real estate here is not only straightforward but also incredibly rewarding. Here’s how to make your island living a reality.
Why Invest in the Dominican Republic?
The Dominican Republic welcomes foreign buyers with open arms. There are no restrictions on foreign ownership, so you can hold title just as locals do. The country offers attractive prices and a booming tourism market, which means strong rental demand and the potential for solid returns.
Beyond the numbers, life here is simply beautiful. Picture vibrant communities, world‑class water sports, and “lock‑up‑and‑leave” properties managed by professionals. Whether you’re seeking a holiday home, investment property or permanent residence, the Dominican Republic checks all the boxes.
Step 1 – Choose Your Property
Start by touring the area and exploring different neighborhoods. Decide whether a condo or a villa fits your lifestyle and budget. RealtorDR agents can show you both new and resale properties so you find the perfect match.
See our latest listings here.
Step 2 – Make an Offer
When you find “the one,” your agent prepares a detailed Offer to Purchase, which you sign and present to the seller or developer. This document lays out the price and terms, signaling your intent to buy.
Step 3 – Offer Accepted
Once the seller agrees, you move forward. At this stage, you meet with your property lawyer to go over the legal details and plan the next steps
Step 4 – Deposit & Due Diligence
You wire your deposit into the lawyer’s escrow account. Meanwhile, your attorney performs due diligence: confirming a clean title, checking condo fees and liens, reviewing survey and permit records, and verifying the seller’s tax status is up to date. These checks ensure there are no surprises down the line.
Step 5 – Contract of Sale (Promise of Sale)
The attorney drafts the Promise of Sale (the formal contract of sale) in Spanish, with an English translation for your reference. This binding document outlines all obligations, payment schedules and conditions.
Step 6 – Pay the Balance
After the contract is signed, you pay the remaining balance. For construction projects or owner financing, payments may be scheduled in stages.
Step 7 – Sign the Deed of Sale
Both parties execute the final Deed of Sale (Contrato de Venta). This document transfers ownership from seller to buyer and is registered with the Title Registry.
Step 8 – Welcome Home!
Once registration is complete, you receive your new Certificate of Title. Congratulations—you’re officially a Dominican Republic property owner! Move in, rent it out, or sit back and enjoy the sun.
Legal & Financial Essentials
- Transfer & Registry Taxes: A one‑time tax of approximately 3% of the government‑appraised value is due upon transfer.
- Annual Property Tax: Properties owned by individuals are subject to a 1% annual tax on the value above an exemption threshold.
- Legal Fees: Attorney fees typically range from 1% to 1.5% of the purchase price and are usually paid by the buyer,
- Financing Options: Some owners may offer financing that does not involve the bank. Dominican lenders generally require a 30% down payment and offer terms up to 25 years.
Your Paradise Awaits
With a transparent process, professional support and investor‑friendly policies, buying property in the Dominican Republic is a breeze. Whether you’re investing for rental income or planning a tropical retirement, you’ll find the DR’s combination of lifestyle and value hard to beat.
At RealtorDR, we guide you through every step—from property tours to title registration—so you can focus on what matters: enjoying your new home in paradise. Ready to make the leap? Let’s get started.