US Citizen Buying Property In The DR

SunRa

*** Sin Bin ***
Mar 30, 2003
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i know now the exchange rate for our dollar is high, so my question is this.. im intrested in buying some property in the DR .. am i allowed to do this being from the US, where would i get property listings.. and how much should i expect to pay for undeveloped land in the DR?

thanks
 

Robert

Stay Frosty!
Jan 2, 1999
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dr1.com
Please use the search function of this message board, hundreds of posts covering this topic. Many of them still currently active and being posted in.

Can you buy? Yes
Listings? Local agents and visiting
Land price? How long is a piece of string :)
 

SunRa

*** Sin Bin ***
Mar 30, 2003
56
0
0
Robert said:
Please use the search function of this message board, hundreds of posts covering this topic. Many of them still currently active and being posted in.

Can you buy? Yes
Listings? Local agents and visiting
Land price? How long is a piece of string :)

im lookin for an average on land prices..

and also a residence what the average price for a residence would be..
 

SunRa

*** Sin Bin ***
Mar 30, 2003
56
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ok well ill be more specific..

im thinkin of gettin some flat land in a small village thats not to far from a larger city.. im thinkin of maybee bavaro or one of the areas outside of higuey, but i dont want to be to far from the beach or amenties (food / drinks / discos)

like i said im thinkin of somewhere outside of Higuey buts thats probably becuase its the only part of the island im familiar with, i would be open to other areas

cost is a HUGE issue

i have many family members who construct houses for a living here in the US i dont know if it would be more ocst efficent to bring them with me to build a dwelling or find property with a residence already constructed.

thus im undescided between two options.. Buy a house already constructed or buy undeveloped land, which is why id like average prices for each.

thanks again
 

Ken

Platinum
Jan 1, 2002
13,884
495
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Being a US citizen makes no difference. Many US citizens have purchased property in the Dominican Republic.

The sort of land you are interested in should be quite cheap compared to land closer to the water because there isn't much interest by foreign investors to drive up the prices.

Realators in the area you are interested in should have some listings. But you should also plan on scouting the area looking for land that you especially like.

It is always important to have the help of an honest, capable attorney when you buy property in the DR, but especially so when buy the sort of land you are interested in. Essential that you be certain that the land you buy has a clear title, including coconut rights, and that the seller is shown on the title as the owner, not his long deceased grandfather. This is a very common problem when buying land in rural or semirural areas.

Before you make an offer, check on prices of comparable land in the area you are interested in and base your offer on that. You may think the land is worth more, but pay what the market is paying.
 

SunRa

*** Sin Bin ***
Mar 30, 2003
56
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Ken said:
Being a US citizen makes no difference. Many US citizens have purchased property in the Dominican Republic.

The sort of land you are interested in should be quite cheap compared to land closer to the water because there isn't much interest by foreign investors to drive up the prices.

Realators in the area you are interested in should have some listings. But you should also plan on scouting the area looking for land that you especially like.

It is always important to have the help of an honest, capable attorney when you buy property in the DR, but especially so when buy the sort of land you are interested in. Essential that you be certain that the land you buy has a clear title, including coconut rights, and that the seller is shown on the title as the owner, not his long deceased grandfather. This is a very common problem when buying land in rural or semirural areas.

Before you make an offer, check on prices of comparable land in the area you are interested in and base your offer on that. You may think the land is worth more, but pay what the market is paying.

could u refer me to some online sites with real estate angents in this area and lawyers?

also im lookin for an average PER ACRE of semi rural land costs...
 

BushBaby

Silver
Jan 1, 2002
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www.casabush.org
SunRa,
Please forgive my bluntness but looking at your questions, the subsequents to the responses you have received etc., etc., etc. you are not READY to buy land or dwellings down here yet. NOBODY will be able to tell you how much land or buildings will cos YOU because you appear far too unaware of the culture & how things operate down here - hence you will be charged what people can get away with, not the true value!!

PLEASE, do yourself an emense favour & save yourself a LOT of money - come here for a month, look around & get a feel for the country. THEN, armed with SOME information, come back to live for 9 months or a year RENTING property for that period. Find out whether you want to live North, South or East of the country (West is no good for you - no Sea nearby!!). People who come down to buy property without having lived here for a while, who don't have the connections to make rational & objective decisions, who try to get the information solely from a notice board similar to this, rarely last here more than a few years. They go away dejected, very bitter about the country & ALWAYS a lot poorer than when they arrived!!

Just as a point of interest, WHY do you want to buy some land or buildings down here? Do you intend coming to live here or is this purely an investment for you? If you are coming to live here, what are you intending doing for a job? Your writing style doesn't indicate to me that you intend retiring down here - you seem far too young for that, so what is pushing you in this direction??

Honestly, I am NOT trying to be rude to you, nor inconsiderate of your needs for information BUT, I would certainly recommend you learn more about the country before you embark on investing, or coming to LIVE in the country. Try a further holiday down south - try another up north, try a third out Samana way ....... you'll find them all very pleasant but totally different. One may appeal to you more than the others & you need to know which before you even consider buying anything here!!

Good luck with your searches in the archives. We shall know from your questions/responses if you haven't done as suggested earlier - READ THE ARCHIVES - & help will be far less forthcoming if you haven't done your OWN homework!! - Grahame.
 

andy a

Bronze
Feb 23, 2002
532
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Just for the record...

If one's only interest is real estate speculation in Latin America, there may be better places than the DR. After all, the DR is likely to remain a third world country for the foreseeable future since there is nothing on the horizon to change it, not even in the education of the children.

There is one place that might be particularly attractive. It is a country, with a modern infrastructure, but whose economy (and resultant prices) oscillates regularly between first and third world on maybe a 15 year cycle. Recently, the Economist survey determined that it is in the bottom 5 spots in the world as far as cost of living. Only a few years ago, it was the opposite. This may be the classic chance to buy low and sell high. That country is Argentina.
 

Ken

Platinum
Jan 1, 2002
13,884
495
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SunRa said:
could u refer me to some online sites with real estate angents in this area and lawyers?

also im lookin for an average PER ACRE of semi rural land costs...

Like BushBaby says, you have to come down here, get acquainted, and have a better feel for how things work in the DR than you do now or you will soon come to grief. Time spent here now exploring and finding out who you can trust will save you much money and heart ache later on.

As far as prices of land, it is very, very doubtful that much land in rural and semirural areas is being sold by realtors. They may have some listings, but there is very little demand from the market they are most interested in selling to. That is why it is cheap. The land you end up buying may be land you find in your search, rather than anything listed. BTW, if you know have a trustworthy Dominican friend in the area, you might have him make the first contact with the seller in order to find out the price. They usually price lower if they think they are selling to another Dominican.
 
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SunRa

*** Sin Bin ***
Mar 30, 2003
56
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the land isnt for living on currently and not for an investment.. just like to own land and would definently like to own land on my favorite place in the world DR.. i may decide to build a winter home on it EVENTUALLY, i would just in the mindset that this would be a good time to buy land because of the high exchange rate.

ive been to the DR Higuey y Romana 7 times in the last 3 years so as im not a resident im certainly not a complete baffoon to the island..

i currently own land in Ohio and a small amount in Costa Rica..
 

kjdrga

New member
Mar 25, 2002
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SunRa said:

also im lookin for an average PER ACRE of semi rural land costs...

You have a lot of research to do first....

Land in the DR is not measured in acres but in hectares, so be ready with your caluculator if you want to figure out how many hectares to an acre.
 

Ken

Platinum
Jan 1, 2002
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Another common measure for land in rural and semi rural areas is tar?a.
 

goatfarmnga

Bronze
Jun 24, 2003
548
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Land in DR

Hi, I am working on getting to DR as my husband is from YAMASA but has not been there in 20+ years. Can you give me an honest opinion of the living conditions there? (He is from there and a little more primitive than I am by nature) I have lived on Guam and Iceland so Islands do not bother me. Just wondering about conveniences and schools for the kids. (3 yr old and 15) I know you are not a welcome wagon but I read your posts and you are "Honest" you need someone over there to get an inside scoop on land. I have that, but they have lived in DR all their lives and think it is modern and just the best. Any advice or things I may need to know? Can you send me an Email? Thanks and I appreciate your knowledge. Pam
 

kjdrga

New member
Mar 25, 2002
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Ken said:
Another common measure for land in rural and semi rural areas is tar?a.

Thanks Ken I knew I was forgetting that one...coverting tarea to acres is a b*tch
 

jch58

New member
May 3, 2002
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there are approximately 11 tareas in an acre....and for anyone who has ever bought rural property in the DR that is the ONLY measurement used...tarea not hectare.

hopefully that conversion will help
 

Dolores1

DR1
May 3, 2000
8,215
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Your children may be in for a big change, very difficult to adapt. The better school in Yamasa may be the public school and conditions should be very lacking there. If you want to move to the DR, you should consider the tourism destinations or the bigger towns. Of course, you should come down and take a look for yourself. Yamasa is pretty basic.