Dominican Republic Shakes Its Caribbean Property Investment Rep

The Dominican Republic is the best Caribbean island to make a property investment on because it is one of the least developed Caribbean countries, therefore living costs are the lowest, and people can go there on holiday with half the spending money they would need elsewhere in the Caribbean. Tourists are a shrewd bunch themselves, and this fact has turned the Dominican Republic into a tourist hotspot. Increasing tourism then helps the economy and the development of the island as a whole.

However, the currently under-developed state of the country means that property prices there are lower than the other Caribbean countries – much lower. For instance you can pick up a 1 bedroom apartment in David Stanley Redfern's Sosua development and accompanying tourist resort for only £30,000. Between five and ten minutes from the beach, upstairs apartments have sea views and the development surrounds a stunning communal pool. Nearby beaches are Sosua beach, Kite beach, and Cabarete bay.

A 1 bedroom Dominican Republic Caribbean beach house, literally right on Cabarete Bay's fantastic beach is only £67,000 in David Stanley Redfern Ltd's Oasis development.
Contrary to common belief about the Dominican Republic, these properties low price and their location in a tourist centre gives them the possibility of bringing their owner a decent rental yield of 6-8%. Common belief and a fact is that Dominican Republic rental yields are low, and while residential yields will very rarely reach over 4%, a holiday letting property is a different kettle of fish.

Capital Gains and rental income are taxed at a flat rate of 29% for foreigners, capital gain is calculated by deducting the acquisition price, after it is adjusted for inflation, from the selling price, property tax is a nominal 1% of the property value, and inheritance tax is a reasonable 3%. Round trip transaction costs are a moderate 10.3%.

Overall Dominican Republic investment property is currently a golden opportunity because your getting a Caribbean property for lower than you can anywhere else with a Caribbean coastline. The gap will close soon though as the tourism develops the economy and prices start to rise in line with what they are worth on the global market as oppose to being affordable to the local population.

Find out more about property Dominican Republic and buying property in Dominican Republic.

About DSR Asset Management Ltd

DSR is an

overseas property investment specialist, working directly with developers in more than forty countries. All properties are exclusive to DSR , giving an unparalleled selection of resale and new builds.

Please direct all media queries, requests for press information and editorial details, to media@davidstanleyredfern.com

David Redfern is the director of DSR Asset Management Ltd an overseas property investment specialist. David works closely with developers in more than forty countries and oversees the DSR education programme which lectures individuals and organisations on property investment. Advertise Your Private Overseas Property

FootPrints SEO is search engine marketing and online marketing agency based in the UK.
© 2009 Footprints-SEO.com