- With our Partner Sunfim Srl, and Select Caribbean properties we are ready to permit you to discover wonderful property in Dominican Republic, and help your for you trip and your stay, we will give you advise if you look for a property who give you a nice income.
Good Morning Miss Mertes, and thank you for your time today. Can you please inform our readers about your property target and market in your country ?
Select Caribbean Properties is targeting the north coast of the Dominican Republic specially the towns Sosua, Cabarete, Rio San Juan and Cabrera.
Wim : What do you think about the worldwide real estate market at this time ?
The real estate market has changed a lot. Affordable properties are in demand. Price range from US$ 200.00 to US$ 450.000
Wim : In your opinion Realtors have changed attitude in this last 5 years?
Realtors did not change attitude but the client did.
Wim : How the foreign buyer's move in your country and who they are ?
The Dominican Republic has clients from the USA, Canada, Europe and in the last years many Russians.
Wim : What is the interest of a foreign property buyer to invest in a property in your country today ?
The foreign buyer is looking for affordable property. 2-3 bedroom houses under US$ 450.000
Wim : What are the financial advantage to invest in your country ?
Access to inexpensive construction labor and domestic help.
Wim : How the property price have changed in this last year's in your country ?
A new market has been created in a price range between US$ 250.000 and US$ 500.000
Wim : What the foreign buyer's must do when invest in your country to be quiet ?
Contact a reputable attorney and establish a Dominican holding company for the property.
Wim : What support the realtors can provide to foreign investors ?
Recommendations for attorneys, architects, builders and interior designers. Guidance through all real estate transactions.
Wim : The law in your country give tax advantages for the foreign buyer's ?
Yes, in the case of development projects.
Wim : Where is the best city to live in your country ?
The best area to be on the north coast is between the town of Sosua, Cabarete and Cabrera depending on what the client is looking for.
Wim : How much cost the final contract to the notaries ?
Usually it is 1% of the sales price.
Wim : What the buyer have to pay to the government if he resell a property ?
There is a transfer tax payable and the amount depends on weather or no the property is held in a Dominican Corporation.
Wim :How much income and how much tax when a foreign buy and rent a property in your country ?
The amount of tax to pay depends on the location and the size of the property.
Many thanks for your time Miss Mertes.