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In 2003, started a period of recession and the GDP per capita and per annum, passed of more than 2 500 US$ to less than 2 000 US$ (-24%). Year 2004 will undoubtedly end in an equivalent fall of the GDP but seems to be announced as a end of this period because the new confidence of the IMF for the new president Lionel Fernandez .....
Real Estate Investment Dominican Republic
Real estate in the Dominican Republic attracts many foreigners. More and more Americans and Europeans, excited to purchase their second home, make the trip to the Dominican Republic in order to do "good business". This led to a boom in tourist real estate in the country, especially in the town of Cabarete. As an engine of the local economy, tourism in the Dominican Republic attracts more and more visitors each year, half of which consists of Europeans.
You can find more information on real estate investment in the Dominican Republic and, especially in Cabarete, by contacting our local partners.
Attractive tax
Real Estate in the Dominican Republic offers very attractive opportunities for investment. With its booming tourist attraction, the country encourages foreign investment in real estate through a series of very attractive tax measures:
· Exemption from income tax for foreign residents retiring
inthe Dominican Republic
· Exemption on foreign earnings during the first 3 years for
foreign residents in Dominican Republic
· Registration fee for the acquisition of approximately 3.5%
· No property tax
· No housing tax
· No tax on the capital gain of resale
To transfer title to heirs, only a 3% duty
Dominican Republic Economy
The economy of the Dominican Republic is predominantly agricultural, and nearly half of the work force is employed in farming. The country also has an important mining sector.
In the late 1980s the estimated national budget included about $796 million in revenue and about $898 million in expenditure. The Dominican Republic hasn't had a reputation for tourism like that of other Caribbean countries, but this is changing rapidly.
Because destructive hurricanes have damaged many of the famous vacation spots in the Caribbean, in recent years, tourism has expanded greatly, proving to be an extremely successful and profitable auxilary for the country.
articles written by our partners for Cabarete
real estate investment.
The price of real estate in the Dominican Republic is quite affordable compared to prices in Europe, North America or the rest of the Caribbean. A wide range of properties is offered to the potential buyer from a small Creole-style house in a large luxury villa to land with magnificent views of the sea, and of course beautiful apartments. As prices rise steadily, real estate investors can hope to profit on capital gains of resale.
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