Property Purchasing General Information as of 2023:
Legal & notary fees to buy the property and to put the title in your name in general is 1% of the sale price. On that amount another 18% itbis. So a home from 200,000 USD will cost in legal and notary fees around 2,360 USD.
Transfer property tax: is 3.1% of the registered value from the property at the DGII (DR tax-office).
Ownership: There are no restrictions for foreigners to purchase and/or own real estate in the Dominican Republic. Full ownership 100% on your name or whatever other legal entity/company.
Yearly property taxes: Property(s) owned by an individual and assessed by the DGII (DR tax-office) below DOP $7,019,383.00 (around 118,692 USD) will be exempt of yearly property taxes and any excess will pay 1% per year over that difference. All properties owned by a company will pay 1% per year of the assessed value with no exemptions.
Deslinde: According to the DR's Property Registry Law a property purchase cannot be recorded at the Property Registry without a clear Certificate of Title (with deslinde). A "deslinde" refers to a clear title which has been issued after the property has received the final judge's approval certifying it has been properly surveyed and that its property lines and boundaries have been clearly defined and established from the original title dating prior to the new registry law or a new title altogether. No purchase should be carried out without a clear Certificate of Title
Construction prices: The average construction prices are starting around 750 to 1500 USD per m2 (80 USD per sf2). This is a basic construction with concrete polished floor, wooden or concrete thatched roof for example, pine tree wood or oak. Pool prices do around 1200 USD per m2 (75 USD per sf2). Marmoline inside, with pool pump and filter.
Legal & notary fees to buy the property and to put the title in your name in general is 1% of the sale price. On that amount another 18% itbis. So a home from 200,000 USD will cost in legal and notary fees around 2,360 USD.
Transfer property tax: is 3.1% of the registered value from the property at the DGII (DR tax-office).
Ownership: There are no restrictions for foreigners to purchase and/or own real estate in the Dominican Republic. Full ownership 100% on your name or whatever other legal entity/company.
Yearly property taxes: Property(s) owned by an individual and assessed by the DGII (DR tax-office) below DOP $7,019,383.00 (around 118,692 USD) will be exempt of yearly property taxes and any excess will pay 1% per year over that difference. All properties owned by a company will pay 1% per year of the assessed value with no exemptions.
Deslinde: According to the DR's Property Registry Law a property purchase cannot be recorded at the Property Registry without a clear Certificate of Title (with deslinde). A "deslinde" refers to a clear title which has been issued after the property has received the final judge's approval certifying it has been properly surveyed and that its property lines and boundaries have been clearly defined and established from the original title dating prior to the new registry law or a new title altogether. No purchase should be carried out without a clear Certificate of Title
Construction prices: The average construction prices are starting around 750 to 1500 USD per m2 (80 USD per sf2). This is a basic construction with concrete polished floor, wooden or concrete thatched roof for example, pine tree wood or oak. Pool prices do around 1200 USD per m2 (75 USD per sf2). Marmoline inside, with pool pump and filter.
Unique Investment Opportunity in VERON Punta Cana
