looking on net all you see is high priced land etc,however i have found lots for -5000 between santo domingo and puerto plata, i am sure there are as good a price in other parts of DR. Anyone have any ideas.paul_modde@yahoo.ca
- Thread starter kiai
- Start date
where is cheapest land in DR
Unfortunately, it is not really the region that drives the prices in the DR. It is largely figured on who you are. If you are a foreigner, the price for a lot of land will be as much a three times higher than if you were a Dominicano. Sometimes, even more.
And remember this, for a foreigner to purchase land in the DR you will need to form a "land corporation". You will need a lawyer for this. When I did this three years ago, it cost me $3000.00 USD to set up the corp.
IMO, the best pieces of land in the DR are learned about by word of mouth. I hear about lots for sale in the campo form my friends there. If you do not have anyone you are close with there, then it will be a hard road to travel to find a truly nice property at a 'good" price. You might be forced to look with the developers who strictly market their properties to persons outside of the DR. Good luck in your search!
And remember this, for a foreigner to purchase land in the DR you will need to form a "land corporation". You will need a lawyer for this. When I did this three years ago, it cost me $3000.00 USD to set up the corp.
IMO, the best pieces of land in the DR are learned about by word of mouth. I hear about lots for sale in the campo form my friends there. If you do not have anyone you are close with there, then it will be a hard road to travel to find a truly nice property at a 'good" price. You might be forced to look with the developers who strictly market their properties to persons outside of the DR. Good luck in your search!
First off, you do NOT have to form a "land corporation". Many people do but it's a personal choice based on several factors.
My personal opinion of land is that a given parcel is only worth so much to me. Based on that, I don't care what it's priced at to other people. Granted, some deals are better than others but the days of out of reason gringo pricing are for the most part gone.
My personal opinion of land is that a given parcel is only worth so much to me. Based on that, I don't care what it's priced at to other people. Granted, some deals are better than others but the days of out of reason gringo pricing are for the most part gone.
If you gave us an idea of what you want to do with the lot, then we can give you more detailed responses.
If it's for building a home, then location is VERY important.
How large a pice of land are you looking for. If your looking to move and biuld your fulltime home I would recomend not being to far from hospitla nad other infrastructure since thats one of the key to quality of life.
btw between Santo Domingo and Puerto Plata you will find the best land ofr agriculture in this side of the world so please narrow down your location, and look for a nice network of Dominicans,/expat to help you out.
btw between Santo Domingo and Puerto Plata you will find the best land ofr agriculture in this side of the world so please narrow down your location, and look for a nice network of Dominicans,/expat to help you out.
Like the huge mansion on the Higuey-Punta Cana road, located right by the stinking municipal dump. Which came first, I wonder, and what's the story there? It's on the market, by the way. Good luck to the seller.
I think it's on the market for 6 to 7 years now.. Have you noticed, that last year, they opened a new dump section on the other side of the road.
As you said, good luck to the seller
I don't understand why do you have to form a land corporation, what's the advantage ?
I mean do i need to do that first to own a house or a lot ??
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seriously confused now
I am seriously confused...
What is the deal and advantage of the land corporation vis-a-vis just bying property right and out... any tax advantages? - any limitations on bying and what are the benefits of one construction from the other?
I am seriously confused...
What is the deal and advantage of the land corporation vis-a-vis just bying property right and out... any tax advantages? - any limitations on bying and what are the benefits of one construction from the other?
The following is from Guzman Ariza, Guzman Ariza Law Firm in the Dominican Republic
Property Taxes
Properties held in the name of an individual are subject to an annual property tax ("IPI") of 1% of
government-appraised value in excess of RD$5,000,000 pesos except for unbuilt lots or farms
outside city limits and properties whose owner is 65 years old or older, who has registered it in his
or her name for more than 15 years and has no other property.
If the property is held by a corporation, no property tax is due. Instead, the corporation must pay a
1% tax on corporate assets. However, any income tax paid by the corporation will constitute a credit
toward the tax on assets, so that if corporate income taxes paid are equal to or higher than the taxes
on assets due, the corporation will have no obligation to pay taxes on its assets.
Property Taxes
Properties held in the name of an individual are subject to an annual property tax ("IPI") of 1% of
government-appraised value in excess of RD$5,000,000 pesos except for unbuilt lots or farms
outside city limits and properties whose owner is 65 years old or older, who has registered it in his
or her name for more than 15 years and has no other property.
If the property is held by a corporation, no property tax is due. Instead, the corporation must pay a
1% tax on corporate assets. However, any income tax paid by the corporation will constitute a credit
toward the tax on assets, so that if corporate income taxes paid are equal to or higher than the taxes
on assets due, the corporation will have no obligation to pay taxes on its assets.
I own land in the DR. I did not have to form a corporation. Word of mouth is essential as is a reliable lawyer. Check everything out over a period of time, get to know the neighbors and determine if they are willing to put up with gringos. We are not welcome or are looked upon as easy marks in many areas. Anyone who has spent any time in the DR can relate to this.
I am in Santiago, real close to hospital shopping main road 11 kt. from airport next door to university which is the worse nusiance of all the noise level on holidays can be heard all over town . When it rains the black water human waste hits the road , this is in the whole city the manholes come out and your car can be botton out., the river downstream is totally contaminated the smell . the interstructure does not exist even when dealing with simple things the health eparment is a building ... have been sick from eating is McDonold, Buenos Aire Querido, burger King. Food poisonning is the morn, health code enforcement.. Have not eaten our unless is Pizza Hut.