Trying to figure out how to scope out a place to live in the Dominican Republic but don’t know quite how to go about doing it?
You’re not alone. One of the most common questions we receive is simply “how do you find real estate listings in the Dominican Republic?” The good news is, it’s easy when you know where to look.
It’s always a bit more tricky looking for real estate of any kind in a faraway country compared to one in the States, but that just means you have to be a bit more Google-savvy and aware of the pitfalls.
One of the great things about the Dominican Republic is that it is in the process of expanding – real estate – with tourism and general expansion going up, a solid rental market, and plenty of new business potential.
In fact, the Dominican Republic tourist industry is booming, and that directly influences real estate. It’s actually a thriving market with plenty of variety in every sector.
Research the Area
Regardless of whether you are interested in the DR for business or just to settle down, understand that you’re going to want to decide where to plant your feet before looking for real estate.
The country can be divided up into five or six main chunks, which include the Santo Domingo area, La Romana and Bayahibe, Boca Chica, Punta Cana in the Eastern extreme, the Amber Coast to the north, and the Samana peninsula in the northeast, with jungles and mountains taking up much of the west.
Each area has somewhat different weather patterns and general climate, as well as differing sets of tourism and business activity.
There’s certainly plenty of information on the web to get an idea of an ideal location. You can always reach out to us as well and we can help you decide what area is right for you.
Have Eyes on the Ground
By this I mean, make sure you have some kind of contact in the Dominican Republic that can vouch for a location. This can be a friend, relative, business associate, or well-reviewed real estate agent or broker.
One of the purposes for Oceans 5 Worldwide is to fulfill this role and aid in the transition process by using information we have access to here in the DR for your benefit.
The point is, you don’t want to just go off of what is written in a listing on the Internet. Look around and do your homework, and most of all, see if you can get information right from the source from someone that’s actually there and knows what’s going on.
Real estate is hot right now, and the Dominican Republic is only gaining in popularity. What you see available online might not actually be so. The same with the conditions, which is why it’s important to talk to a trusted authority on the DR, like us, who can give you straight information on what you are looking for.
Estimate Your Price Range
Look into the going rates for the type of real estate you’re looking for by doing searches for “Dominican Republic Real Estate” in Google, and comparing prices.
You’re going to want to have a working idea of what you are willing to spend, but keep in mind that it’s fairly easy to get loans in the DR, and many owners are willing to finance.
Because the Dominican Republic is a small foreign country, it doesn’t have as much reputable real estate websites as say, a large American city might. This means you should spend double the amount of time combing the prices and seeing if you can find the same property listed in multiple locations.
Once you lock down a price, whether it’s a small villa in Cabarete or a condo in Punta Cana, this is when it’s time to call an expert and consult on the property, as well as help get second opinions.
If you are in this stage of the buying process, please feel free to get in touch, that’s why I’m here.
Tips on Search Terms
Remember when you search for real estate listings, to use proper language as it applies to the Dominican Republic. It’s sometimes helpful to use terms like “villas” and “estates” rather than just homes or condos, depending on what you’re searching for.
Also be aware of that a lot of real estate is “area” specific in the DR, which means you’re liable to find a website that caters only to Punta Cana or the Amber Coast. Use this to your advantage when you’re searching out a property.
And always remember that when it comes to buying real estate in a foreign country, nothing beats consulting with an expert on the subject.