DR: "Third best country for retirement"

[NALs]

According to an article in today's Hoy newspaper, the DR is the third best country to retire. They are based on what it says in a study of the best countries to retire by Travel+Leisure. Only Panama and Portugal score higher out of 12 countries considered to be the best to retire. The DR surpassed even Costa Rica, which for many years was seen as a better place to retire.

Among the pluses for retiring in the DR are:

- Lower cost of living (55% less than NYC).
- Location (2 hours from Miami).
- Good health care facilities at modest prices.
- Hospitality of Dominicans.
- The beaches (this was expected, IMO).
- Very different destinations within the country.

Other countries in the list includes Mexico, United States, Ecuador, Malta, Spain and Colombia. In this study, the DR surpass them all.

 

[melphis]

One of the reasons we chose the DR years ago was we could get back to Canada or England in day if we had to.
Never had to but it was important at the time.
Another big reason was that you could actually own property on coastal waters. We did for 14 years and now we are happy renters

 

[NanSanPedro]

I guess I can see the argument for Panama but not for Portugual.

 

[Fulano2]

It’s just the conclusion of a magazine señores, so don’t take this serious. For people from EU (EC) there are far better options anyways.

 

[bob saunders]

I guess I can see the argument for Panama but not for Portugual.

Have you been to Portugal? Very friendly and safe, Food is very good and inexpensive, lots of beautiful beaches, lots of Historical places to visit....etc. English is understood by a good percentage of the population. Easy to get to, and easy to go to other countries from.

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[william webster]

Portugal offers many incentives to attract residents..... fast track applications, tax benefits.... a whole list of things

 

[bob saunders]

The DR is extremely easy to get to and of course has many things that attract expats, but the country needs to work on streamlining their visa system so that they actually make it easy for snowbirds...ie six-month Visa, do a better job of crime fighting, garbage pickup...etc.

 

[aarhus]

Portugal offers many incentives to attract residents..... fast track applications, tax benefits.... a whole list of things

If we are comparing to the DR. Much better health care.

 

[aarhus]

It’s just the conclusion of a magazine señores, so don’t take this serious. For people from EU (EC) there are far better options anyways.

Yes the attraction for North Americans has a lot to do with the proximity and how americanized it is.

 

[Ecoman1949]

If we are comparing to the DR. Much better health care.

Biggest plus is the rule of law is actually applied fairly in Portugal. Driving their roads can be dangerous but not as dangerous as the DR roads and police officers don’t request bribes. Increased drought and longer periods of extreme heat are an issue but the average tourist or expat can maneuver around that because they have reliable potable water and electricity infrastructure. Buying property there is risky. The real estate market there has gone through some wild swings. A lot of Brits lost big money on property they bought near the Med. Some moved on to France where real estate is more stable.

 

[windeguy]

Biggest plus is the rule of law is actually applied fairly in Portugal. Driving their roads can be dangerous but not as dangerous as the DR roads and police officers don’t request bribes. Increased drought and longer periods of extreme heat are an issue but the average tourist or expat can maneuver around that because they have reliable potable water and electricity infrastructure. Buying property there is risky. The real estate market there has gone through some wild swings. A lot of Brits lost big money on property they bought near the Med. Some moved on to France where real estate is more stable.

If you buy real estate to retire to it, how much do the wild swings in value matter if you are never going to sell it?

 

[william webster]

This all started b/c someone pop pooed Portugal
All three countries mentioned are worthwhile
Europeans may favor Portugal for proximity and tax break plus inclusion in the EU

 

[Fulano2]

So has San Diego, San Francisco, Las Angeles, Portland,
Seattle, Philadelphia and NYC but thankfully..... the Dominican
Government is far smarter then those idiots.

I have a English friend who moved down to Lisbon from Amsterdam
about 8 years ago. Main reason was for the lower taxes and the
warmer weather.

A lot of retired dutch are moving to Portugal. Living in the Netherlands is very very expensive. Personally I prefer the Canary Islands.
Comparing the DR with Tenerife is a very easer winner for Tenerife. Cheap, good organised, four hours from Brussels, cheap cars, cheap wine, cheap beer, good bread, etc etc.

 

[Ecoman1949]

If you buy real estate to retire to it, how much do the wild swings in value matter if you are never going to sell It?

Never is a long time Windy and medical issues force many to move back home and sell when they don’t want to sell. Some buy for investment purposes and get stung when the market drops out. About 40 minutes drive from my place an investment housing development sprung up about ten years ago. Monster houses in a gate resort sold mostly to Brits and Europeans. The deal was live in them for six weeks and get a percentage of the rental income. No taxes to be paid for anything and an up front investment reward from the provincial government. The whole thing collapsed after five years and houses were sold for half their value. A lot of investors were forced to pay taxes as well. Regardless of where you choose to live, it’s always buyer beware. Which is why I’m glad I chose to rent and not buy in the DR.

 

[william webster]

My Swedish friends have a house here on the north coast

They recently left Sweden for Portugal with pockets full of money
Originally, they settled in the Algarve and are now moving to Madeira

 

[windeguy]

Never is a long time Windy and medical issues force many to move back home and sell when they don’t want to sell. Some buy for investment purposes and get stung when the market drops out. About 40 minutes drive from my place an investment housing development sprung up about ten years ago. Monster houses in a gate resort sold mostly to Brits and Europeans. The deal was live in them for six weeks and get a percentage of the rental income. No taxes to be paid for anything and an up front investment reward from the provincial government. The whole thing collapsed after five years and houses were sold for half their value. A lot of investors were forced to pay taxes as well. Regardless of where you choose to live, it’s always buyer beware. Which is why I’m glad I chose to rent and not buy in the DR.

And I am glad I chose to buy in the DR. My property owes me nothing back after 20 years of living in my house in Cabarete just by the money I have avoided in paying as rent, not to mention the rental income from the apartments that were built that payed form themselves and more.

I do have neighbors that were forced to sell recently because of health issues and go back to Canada. Sorry for them they had a very nice house, but nobody liked it because it was two stories and hard to sell. So that does happen.

 

[CristoRey]

And I am glad I chose to buy in the DR. My property owes me nothing back after 20 years of living in my house in Cabarete just by the money I have avoided in paying as rent, not to mention the rental income from the apartments that were built that payed form themselves and more.

Sounds like you bought your home in the right spot.
I've heard some real horror stories over the years, especially
when it comes to the north coast.

 

[windeguy]

Sounds like you bought your home in the right spot.
I've heard some real horror stories over the years, especially
when it comes to the north coast.

The new Casa Linda Encuentro site is over a year late in deliveries to buyers. I was told by an owner that Migracion rounded up the Haitians that used to build for Casa Linda, The new crew of Haitians hired didn't know a rebar from a hole in the ground, the project manager was fired and another crew brought in to fix the many problems.

Never buy what is not already built is my advice.

 

[windeguy]

Sounds like you bought your home in the right spot.
I've heard some real horror stories over the years, especially
when it comes to the north coast.

La Mulata was a source of many horror stories on the north coast.

 

[Ecoman1949]

A lot of retired dutch are moving to Portugal. Living in the Netherlands is very very expensive. Personally I prefer the Canary Islands.
Comparing the DR with Tenerife is a very easer winner for Tenerife. Cheap, good organised, four hours from Brussels, cheap cars, cheap wine, cheap beer, good bread, etc etc.

And a lot less mosquitoes due to the climate there. Read an article about the islands becoming a haven for Russian mafia who fled there when Putin took over. They would make interesting neighbours!