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Many
of our clients are excitied about the possibility of living in this wonderful
Island nation. The truth is that they should be. Property taxes
so low they are almost non-existant, wonderful Caribbean climate, modern
shopping and amenities and the opportunity for tax free offshore banking
make this country a paradise. But, with all things in life, it pays
to know where to look. As mentioned in TheDominican
Republic Report, some sections or areas offer much better
value than others.
It is worthwhile to note that some areas are
considered to be "exclusive".
When discussing the capital of Santo Domingo,
neighborhoods such as
Arroyo Hondo, La Julia, Naco, and Piantini
will cost more both in respect to property prices and property taxes.
In addition, utility rates tend to be higher in these sections as well.
As an example of other areas, the same can be said for La Romana and the
over priced tourist areas of Sosua, Puerta Plata and Cabrete. There
is nothing wrong with some of these other areas, in fact you may even prefer
to live in a section that is geared towards tourists. But, the truth
is, you will not find the real hidden property bargains if you focus your
seach only in such sections.
When looking for apartments in the capital
of Santo Domingo, the better values tend to be found in the more "middle-class"
residential sections found in the Zona Oriental, or in sections north-west
of the city, such as Hererra.
Advertisements found in "Listin Diario" would
be a good place to start, in addition to word of mouth. Often enough,
if you find an area that you like, "spread the word" through the local
colmado owners that you are looking for an apartment or home rental.
You will of course need to have sufficient enough Spanish skills to do
this, but you can leads on rentals this way.
When looking for investment property or beach-front
property, keep in mind the old rule about location, location, location.
To be more specific, look for areas that are not currently over run with
tourists, but have the potential for growth due to government incentives.
If you are buying property that is difficult to access, you will have a
property that is difficult to sell later on. Look for areas where
new airports are under construction, or are planned. Also look for
areas that the government is improving with new highway construction.
While this may sound like common sense, many people fall in love with the
surroundings, but forget to think about other factors that will effect
future value or re-sale opportunities.
For additional information, please
contact:
Ascot Advisory
Services
Santo Domingo,
Dominican Republic
Telephone
809-334-5387
E-Mail:
info@ascotadvisory.com
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