Dominican Republic
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Located in the Caribbean, this island is one of the most beautiful US countries owing to the variety of landforms found here. Foreigners invest thousands of dollars in various kinds of properties in Dominican Republic, all thanks to the ambient location of the country. But that’s not the sole reason why foreigners are so involved in striking the most lucrative property deal in this western island. The major driving factor for such a huge involvement is the fact that both the foreigners and the locals enjoy similar rights on the property purchase process.

  1. The very first step in the property buying process is the hiring of the real estate agent. While hiring one, one must be vigilant enough to judge between the agents. Fraud cases have been reported often and that’s why proper scrutiny is a must.  You must verify the way of working, the deals they provide and other factors before finalizing.
  2. If you fix your attention on a property, you need to secure it by paying a 10% down payment. This will remove that concerned property from the market and hence you won’t have to deal with any other buyer.
  3. The lawyer’s duty will be to verify the condition of the property and various other factors.

       Photocopy of the title

       Utility bills

       Survey certificate

       Seller’s ID proof

       Last paid property tax receipt

       Construction plans and blueprints obtained from the corporation

  1. Once satisfied with the information, you need to pay the remaining balance to the bank trustee’s account which will be transferred to the seller’s bank before the date of closing.
  2. After the buyer and the seller sign the Contract of Sale, the notary will verify the document. This signing of the document will be done in front of him.
  3. It is in the Title Registry Office where the title will be changed after the submission of the signed Contract of Sale.
  4. This entire property transfer process takes place for 47 to 52 days roughly.
  5. Transfer tax, notary fees, document stamp tax, and the real estate agent’s fee needs to be included in the transaction costs.

 

Population In Dominican Republic

Population
10.457.73%
Population Change
9.7 MillionYear 2010

GDP In Dominican Republic

GDP
7946.68%
GDP Change
53.86 BillionYear 2010

Inflation Rate

Inflation Rate
9.64%78.52%
Inflation Rate Change
5.4 %Year 2010

Unemployment Rate

Unemployment Rate
7.60%46.15%
Unemployment Rate Change
5.2 %Year 2010

Loan Growth

Loan Growth
N/A 0.00 %
Loan Growth Change
N/A

Lending Rate

Lending Rate
15.4 %27.27%
Lending Rate Change
12.1 %Year 2010

Tourism Revenue

Tourism Revenue
N/A 0.00 %
Tourism Revenue Change
N/A

Tourism Arrivals

Tourism Arrivals
6.57 Million59.47%
Tourism Arrivals Change
4.12 BillionYear 2010

Terrorism Index

Terrorism Index
0.18 % 0.00 %
Terrorism Index Change
N/AYear 2010

Crime Index

Crime Index
N/A 0.00 %
Crime Index Change
N/A

Average Monthly Net Salary

Avg Monthly Net Salary
N/A 0.00 %
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N/A

Home Ownership Rate

Home Ownership Rate
N/A 0.00 %
Home Ownership Rate Change
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Housing Price Index

Housing Price Index
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Housing Price Index Change
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Rent Today

Rent Today
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Rent per sq m Today

Rent per sq m Today
N/A 0.00 %
Rent per sq m Today Change
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Rental Yield Today

Rental Yield Today
N/A 0.00 %
Rental Yield Today Change
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Price to rent ratio today

Price to rent ratio today
N/A 0.00 %
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Price to gdp per cap

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