I was privileged to be in Santo Domingo for last week’s Live and Invest in the Dominican Republic Conference. While...Read more
The Dominican Republic has a lot to offer young expats, entrepreneurs, and retirees, not the least of which is a low cost of living. You can afford a calm, Caribbean lifestyle for less than you are likely paying back home.
Forget your idea of Caribbean pricing. You can live well in the Dominican Republic on just US$1,355 a month (including many luxuries that you would have to do without on this same budget back home). Weekly food shopping for two is about US$120—including grocery items and delicious fresh fish, fruit, and vegetables.
Prices across the board in the Dominican Republic are more Latin American than they are Caribbean. You could live comfortably in the DR on a budget of $1,200. With a budget of $2,000, you could afford more entertainment and extra household help, for example, and really enjoy the good life. Invest in a place of your own, and your monthly living costs would be much, much less. This is a realistic and appealing option, as property prices in this country are a bargain, certainly relative to elsewhere in the Caribbean. You could buy an apartment for as little as $100,000 or less.
Monthly Budget For A Couple Living In Dominican Republic
|Cost of Living in the Dominican Republic||Monthly Budget in RD$|
|Electricity (750kwh avg.)||RD$3,500|
|Internet, Telephone||Included In Cable|
|Entertainment (Dining, Movies, Bars, Etc.)||RD$18,000|
Of course, there are more options and more affordable prices in specific parts of the Dominican Republic.