Dominican Real Estate Listings - Dominican Republic Real Estate
Caribbean Sea and is 288 square miles with a population of 71,242. The beautiful landscape and the temperate climate are two of the things that make Dominica real estate so attractive to investors. Average temperatures in the daytime range from 75F to 85F but in the mountains the temperatures are even cooler. July through October marks the rainy season and January through April are the dry season. The island has their hurricane season from September through November.
Dominica real estate can range from the beachfront home to the estate in the mountains. Its natural beauty is a feature that is sought after by those who wish to get back to nature, whether it is in a vacation home, rental property or a fine inland estate. With tourism and agriculture being the mainstays of the island’s economy, Dominica real estate is still somewhat untapped.
Life in Dominica
Relocating to Dominica places you in a life that is not so different from living in the States or Europe. The government is democratically elected, but some of the political parties are not the same as in the States. For instance, the May 2005 elections voted the Labour Party in to a second term of office.
The cost of living in Dominica makes Dominica real estate very appealing because it is comparable and usually lower than living comfortable in the United States. Dominica real estate is very reasonably priced and rental properties and lower than many US properties. Additionally, most supermarkets in Dominica carry most of the same food items as those in the United States and Europe. Finally, Dominica is considered to be one of the safest countries in the Caribbean.
Building, renting and purchasing in Dominica
Dominica real estate is very inexpensive when compared to real estate in the United States. The most common home structure is concrete. The approximate cost for building your own concrete home ranges from $55 to $63 per square foot of living area. The price, of course, can go up, but a home built from wood is generally less expensive.
It does, however, require a great deal of work. Rentals in Dominica are very reasonable and are average or comparable to rent in the United States. The price does increase in certain areas, but the average is around $650 per month.
It would be a real treat to live in such a lush, splendid, mountainous area. A location that is perfect for snowbirds, Dominica is a little paradise tucked away in the Caribbean. Its mild, temperate climate is a major attraction for tourists and home owners alike, although you can expect somewhat heavier rains the farther you go inland. If you are a naturalist and love rain forests, mountains and natural beauty, then Dominica is the home for you.
The market continues to grow at unprecedented rates resulting in steadily increasing real estate prices and solid rental returns. Guaranteed rental has become a buzzword within the property industry but few schemes could compare with the structure or yields offered by guaranteed rental schemes. Furthermore the government incentives offer 10 years of tax incentives, no tax on rental income, no capital gains tax and no property purchase tax (Normally 4.6%).
The most recent development is widely recognised as the largest dedicated leisure resort development in the world and perhaps the last investment opportunity. It is continually courted by premier international leisure resorts and understandable when 8% guaranteed rental yield (net of management fees) is available for the first 5 years and renewable. The Dominican Republic is approximately 600 miles South East from Florida, United States and approximately 4000 miles from the UK, With flying times of approximately 3 hours and 7 hours respectively and Punta Perla is fifteen minutes from Punta Cana International Airport. For leisure, opportunity and benefits The Dominican Republic is the off plan capital.
2700 acres of sculptured tropical paradise along with 3 signature Golf Courses plus academy. The development Golf Club is the synthesis of spectacular location with grand vision and it is destined to become one of the most prestigious international championship standard Golf retreats in the World.
The Dominican Republic enjoys a year round tropical maritime climate, a latitude of 17’36 – 19’58, places the Dominican Republic at the border of the tropical zone. Sea breezes refresh the insular territory, evening out temperature to average 23’C in the early mornings to 32’C at mid-day. There is little difference between winter and summer temperature with July averaging at 82’F (28’C) and January at 76’F (23’C).
The lowest temperatures occur in the mountain areas near Constanza, where temperatures have dropped to 0’C , and record highs have been registered at the frontier with Haiti , 39’C in the summer. The months of May to November are regarded as the rainy season and most rain falls in the northern and eastern regions. The Dominican Republic is similar in size to Scotland or the U.S. state of Maryland and is the second largest island in the Greater Antilles.
Named by its Spanish settlers “Hispaniola”, the island became the hub for the expansion of the Spanish empire into the new world. The city of Santo Domingo (originally named “La Isabela”) was founded in 1496, and soon became the seat of the first cathedral, hospital and university of America.
A year after gaining independence from Spain in 1821, the eastern part of the island was occupied by Haiti. This occupation ended on February 27, 1844 with the proclamation of the National Independence. Since 1966, ten democratic elections have been held, alternating the power between the three main political parties.
The Dominican Republic’s Latin style is a sharp contrast to the character of the many nearby islands, especially the British and French-influenced ones, and is reflected in both the local music and cuisine.
