House Beautiful recently carried a feature giving insights into places south of Florida, USA that it recommends people check into for investing in a vacation home or retirement dwelling. House Beautiful reports on the US Virgin Islands and Puerto Rico, the Bahamas, Cayman Islands, Turks & Caicos and the Dominican Republic as alternatives for sun-seekers.
The magazine quotes H. Michael Heuser, broker manager of Coldwell Banker in Punta Cana: “The number of US Citizens living in the Dominican Republic has continued to grow annually by approximately 10 percent over the last few years.” He attributes the growth to the island’s beauty, relatively low cost of living, excellent healthcare, and retirement visa program.
According to Heuser, purchasing a home in the Dominican Republic is easier than ever, and many condo developments are offering a tax exemption that waves the one-time three percent Transfer of Title Tax, and the Annual Property Tax of one percent is exempt for 12-15 years. He says that touristy areas like Punta Cana have strong rental income potential if you want to rent out your new condo, but they still feel quiet and peaceful enough to get away from it all.
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House Beautiful
7 January 2025