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Property prices in Dominican Republic

Hello everyone,

Finding affordable housing in Dominican Republic is number one priority for newcomers. Tell us more about the estate market in your district/city/region.

What are the most desired places to live? What are the most affordable ones? What is the average cost of a rented flat? And what is the average sale price for an appartment or a house? Could you tell us more about local real estate policies/procedures? What about property tax or residency tax in Dominican Republic?

What about you? Where do you live now? Is it a place you would recommend?

Thank you in advance for your clarifications.

Priscilla

This is a very tough question to answer and depends on numerous variables. This is a larger country than many think.
So depending on if you are looking for:
City vs rural
Mountains vs ocean
Expat community vs local community vs mixed area
condo vs villa
gated vs non gate
security vs no security
and $$$$ to spend you can find something for rent for less than $500 a month to well over $3000 a month.  If buying a condo then $40,000 to well over $1,000,000.  If buying a villa then again $50,000 to well over $20,000,000.

Bob K

There are two prices for everything in this country. The local Dominican to Dominican price from market trinkets to homes and land for sale is one. The second is the "you're a foreigner and have endless supplies of money" price. We chose to live close to where we work in Elías Piña, about an hour away in San Juan DLM. About three hours from the capital. About 1.5 hours from Barahona. There are some beautiful homes in the "barrio americano", or American neighborhood which has very few actual Americans. We found a home in a great neighborhood with local middle to upper middle class Dominicans where the Doctor that we work with in the country lives with his family. The owner originally wanted about 700 a month. After finding out we were missionaries, he came down to our budget of $400 a month! He has been incredibly gracious with his 4bd 4bath single level home on two lots. My suggestion is, send a Dominican in that you trust to make an offer and deal with the owner of a property. If you walk in as an American or expat, th price can triple when they see you. Just my two pesos.

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