The Dominican Republic is more than just a resort destination… Naturally, this country’s white-sand beaches and warm sunshine attract a huge number of tourists, but this picture-perfect destination is also a top choice for retirement living Caribbean-style.
Dominicans are generally friendly and hospitable, and the area is warm and welcoming to newcomers. Plus, you’ll find every convenience at hand at a price you can’t say no to.
The DR is one of Latin America’s fastest-growing economies thanks to its tourism, remittances, foreign direct investment, mining revenues, free-trade zones, and telecommunications sector.
The country also has what is probably the easiest residency permit to maintain, with no time-in-country requirements. For instance, on offer are ordinary and “fast-track” residency options.
Consider that to qualify for fast-track residency, you need to show proof of US$1,500 or more per month in Social Security or other pension income as a retiree; or proof of US$2,000 or more per month in income from any source (rental income, dividends, and/or interest income works), retiree or not; or invest US$200,000 in one of several investment options (real estate qualifies, as does a certificate of deposit).
Generally speaking, you are eligible for naturalization in the Dominican Republic after three years of residency. However, as a fast-track resident, you can start the naturalization process after only six months, making the Dominican Republic one of the fastest second passport options in the world.
Why Punta Cana?
More than 8.5 million tourists visited the DR in 2022… this makes it the most popular destination in the Caribbean and in the top five overall in the Americas.
Punta Cana specifically received about half of those visitors in 2022, with 4.1 million visitors. As a result, the yearly average hotel occupancy for 2022 was 77.3%.
It’s the country’s highest performer for tourism and rental returns.
In fact, experts are calling this the “Golden Era of Tourism” for Punta Cana.
The rental business here is lucrative. If your investment property is close to the beach and has great views, you can expect high occupation and rental rates, and in turn, strong ROIs.
Typical ROIs in Punta Cana range from 6% to 12% yearly. During the high season, from mid-December to the end of April, rental rates are usually up 40% to 50% and occupation rates stay between 75% and 90%.
Helping booming tourism numbers is the improved infrastructure across the DR, particularly in hotspots like Punta Cana. Above all, these areas now benefit from private hospitals, international schools, electricity grids, and brand-new roads.
Plus, let’s not forget about the DR’s perfect weather. Temperatures range between 68°F (20°C) and 88°F (31°C) during its summer months. The waters are calm, and a gentle ocean breeze drifts all around.
It’s here in Punta Cana where we’ve discovered new opportunities perfectly positioned for high returns for the investor…
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A Project For Those Seeking Urban Coastal Living
This pre-construction development will be located in the commercial heart of Punta Cana.
You and your renters will be just a 10-minute walk from the beach, and have all the necessary amenities nearby. Next door is a supermarket, restaurants, bars, pharmacies, stores, and more.
This project is for those who want to be in the middle of the hustle and bustle of a tourist town… right in the action.
The condominium will have a sky lounge restaurant with panoramic views, a pool, and underground parking.
You’ll be able to choose from one-bedroom units, two-bedroom units, and studio suites.
The studios have a living space of 30 square meters and start at US$142,099. On the other hand, the one-bedroom units are 47 square meters and start at US$203,199, while the two-bedroom units are 104 square meters and start at US$387,999.
The units come with appliances (air conditioner units, washer and dryer, extractor, stove, and fridge) and some units come rental ready with furniture, as well.
The projected delivery date for this development is December 2024.
A Project For Those Seeking A Modern, Suburban Golf Lifestyle
This is another pre-construction development along the Punta Cana coast. This one is in a suburban environment, farther away (but still reasonably close) to everything you’ll want to see and do in this city.
The Macao Beach is just a 16-minute drive away, and downtown Punta Cana is a 22-minute drive away.
This development boasts a privileged location within a golf club, and gives owners and renters of this complex the added benefits of free access to one of the best beach clubs in Punta Cana, just steps from your unit.
In addition, you’ll be able to enjoy the use of the infinity pool with ocean views, relax under the sun with a cocktail from the bar, or feast on seafood from the club’s restaurant.
For golf enthusiasts, an 18-hole course is right next to the complex. Also, there’s also a spa, gym, roofed tennis and paddle courts, and a pool.
The development has one-bedroom and two-bedroom units. One-bedroom units have a living space of 84.4 square meters and start at US$202,199, while the two-bedroom units are 104 square meters and start at US$387,999.
This particular project also benefits from the Confotur law, which means your property will be exempt from the 3% transfer tax on the first real estate transfer and is also exempt from the annual property tax of 1% for the first 15 years.
The projected delivery date for this complex is December 2024.
Earn A Projected 11% ROI In The Heart Of Punta Cana
For any units in either of the developments, you have the option of buying a furniture package to make your unit turn-key. The fee for this varies depending on the complex and unit size, but runs between US$28,000 and US$32,000.
As mentioned above, ROIs in Punta Cana range between an average of 6% and 12% annually, and the projected ROI for both of these developments is 11%.
Developer payment plans are available for both projects. With their “standard payment,” the buyer puts down 5% when making the reservation, 15% with the promise to purchase contract, 40% during construction, and 40% upon delivery of the unit.
With their “50% prompt payment” plan, the buyer gets a 4% discount on their unit of choice, puts down 5% with the reservation, 45% with the promise to purchase, and 50% upon the delivery of the unit.
With their “100% prompt payment” plan, the buyer gets a 7% discount on their unit, puts down 5% with the reservation, and pays 95% with the promise to purchase contract.
Managing Editor, Global Property Advisor