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Purchase & Financing
We have 3 different developments:
- Homes at Villas Marinas range from $250K to $425K.
- Homes at Ocean Village Deluxe range from $492K to $1M.
- Condos at Seawinds start at $349K
We’re confident that you won’t find better valued vacation homes in the DR—or anywhere else in the Caribbean. The quality of the construction is second-to-none. And all are in oceanside communities with great amenitities right onsite and easy access to everything the North Coast has to offer.
Foreign property investments are also encouraged by incentives, which according to the country’s tourism office, include:
- Tax-free receipt of pension income from foreign sources, including the possibility of moving belongings to the country.
- Foreign buyers receive a 50% exemption from property tax.
- Exemption of taxes on the payment of dividends and interest, generated within the country or overseas.
- Foreign buyers receive a 50% exemption on taxes on mortgages, when the creditors are financial institutions that are regulated by Dominican financial monetary law.
- Exemption on payment of taxes for household and personal items.
- Exemption from taxes on property transfers.
- Partial exemption on vehicle taxes.
Depending upon which development you choose to purchase in, there are different ways to pay.
- Villas Marinas and Seawinds: You will need to have the cash on hand. Often buyers will use equity in property back home to raise the funds to purchase.
- Ocean Village Deluxe: Offers competitive financing in-house. You need to put $100K down and can finance the rest. The interest rate is 5% and terms are 20-30 years.
Note that North American banks will rarely finance property in foreign countries such as the Dominican Republic.
And financing through Dominican banks isn’t usually worth it. You won’t get a competitive term or rate, and the the process takes a long time.