ASK US ANYTHING
Help and Advice
CAN FOREIGNERS BUY PROPERTY IN DOMINICAN REPUBLIC?
Foreigners can easily buy real estate in the Dominican Republic. The Dominican Republic has a non-restrictive policy that benefit foreign investors. You will just have to record your purchase with the Registry Offices for statistical motive. At SNAGA, we are committed to making your acquisition process as smooth as possible.
WHY DOMINICAN REPUBLIC?
Dominican Republic has a strong economic growth impacting all sectors including real estate. The Dominican Republic has great investment incentives for investors and the process of buying real estate is quite simple. Whether you are looking for gated communities, private villas or condos, in the mountains, by the beach or in the city, the Dominican Republic has it all.
WHY PUNTA CANA?
Last year, more than 50% of the 6 millions tourists who visited the Dominican Republic landed in the International airport of Punta Cana. This airport offers direct flights to over 60 destinations! Here we enjoy a great year-round tropical weather. It also offers a high rental income potential. The properties here have a strong and consistent appreciation value. The cherry on top of the icing is the Irresistible white sandy beaches!
CAN I GET FINANCING?
You can get financing from your home bank. However, if they qualify for it both locals and foreigners can get a loan with a reputable local bank in the Dominican Republic which could finance up to 70% of the purchase value. Some developers also offers financing options. You will need to provide some necessary documents such as an
Identification document, immigration status, copy of passport, Income Tax Declaration, employment letter and more. A proof of the down payment confirmation of at least 30% of the purchase value will also be required.
WHAT ARE THE STEPS OF ACQUIRING REAL ESTATE IN PUNTA CANA?
We really recommend you buying your property in Punta Cana through a reliable real estate agency. At SNAGA, we will help you find the best property for your needs. Once you choose your property, you can make an offer with the help of your agent. When you get to a verbal agreement with the seller, you will have to pay an amount for the reservation that will be a part of the total amount. We highly suggest that you contact a lawyer (we also offer this service) to review the contract or promise of sale before signing anything. Once the transaction is fully paid, the Deed of sale can be finalized allowing the transfer of the titles from the seller to the buyer.