DR Real Estate Blog
Punta Cana and surrounding areas have been making their marque on the international marketplace for quite some time now. The area has long since been a tourist attraction as well as an “opportunity” for vacation homeowners, tourists, investors, and adventurers due to the diversity of the region as well as the relatively low cost of entry into the local economy. Recently (post-global economic crisis) the areas surrounding Bavaro and Punta Cana have seen a surge in infrastructure growth, spurred on by a new political administration.
For example, all the sidewalks are being either re-done, extended, or placed along nearly all of the roadways in densely populated areas. Ths is part of the “original” plan that was released back in 2007-2008. The current President is has finally decided to implement the plan since he has a goal to increase tourism to the Dominican Republic from 4 million to 10 million visitors per year by the year 2020. Consider this; Punta Cana International Airport (PUJ) receives 65% of all the incoming passengers while the other 6 International airports share the remaining balance of 45%.
What does this mean for you? The answer is simple. New infrastructure will bring new demand. Bad locations will become good locations. As the demand for great locations will be on the rise, supply will need to meet that demand. The potential increase in supply within the commercial and private sectors will lead to ever-growing demand in an area with limited land area.
Opportunity is knocking at your door…
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Playa Turquesa is formed by 16 residential buildings of 3 and 4 levels, that total 188 apartments of one, two and three bedrooms, including a reception area and featuring double level penthouses in each block. It also includes a plaza with 9 commercial spaces. Its future homeowners will enjoy various services such as: concierge, 24 hour on site security, restaurants and beach club. Playa Turquesa is one of the last projects to be developed in the best beach of Bavaro, El Cortecito Beach, which combined with a rental-pool program, local hospitality and perfect weather all year round, guarantees a significant growth in the value of your investment.
Playa Turquesa – Where Luxury and Beauty Come Together. In Bavaro-Punta Cana emerges a unique in its class and the most luxurious project in front of the turquoise waters of the Caribbean Sea, which will fulfill all your dreams of a home on the beach. The last project to be developed in the best beach of Bavaro which combined with a rental pool program, local hospitality and perfect weather all year round, guarantees a significant growth in the value of your investment.
Bavaro-Punta Cana, located on the eastern tip of the island of the Dominican Republic, is the longest stretch of white sand of the Caribbean, and it is here, in front of the most beautiful beach of the area, protected by reefs, where this development rises. It is situated at less than one kilometer from three of the best golf courses, and just beside the most luxurious hotel complex of the area. It is also located ten minutes from the International Airport of Punta Cana (PUJ).
Reception Area & Concierge
24 Hour On-Site Security
Restaurants and Beach Club
Commercial Plaza with 9 Spaces
Reinforced Concrete Structure
Elevator in each apartment complex
Exterior Walls Rustic Finish
Wall Finishing & Interior Walls Plaster finish or Colored Stucco
Doors and Closets in precious woods (oak)
Bathrooms with Imported Ceramic with Granite or Marble Countertops
Kitchens Imported Italian Modular with Granite Countertops
A/C in ALL rooms and social areas
Why people buy Dominican Republic Real Estate
- Rental Income
- Property Relocation
We understand that for many potential clients, purchasing real estate in the Dominican Republic is more of an investment than a permanent home. Investors look for properties with high rental incomes that will pay for themselves through short and long terms rentals. At minimum, rental income is a way to offset costs associated with the property when they are not in being used by absentee owners.
Properties rent very well in the area. Short term rentals are better during high season (October-May) and long term rentals are steady year round. Yearly occupancy rates of 70 to 80%% and annual rental yields of 6% to 8% can be expected. This does not include the strong appreciation rates that are being enjoyed in the area which can surpass 10-15% annually. Location, size and condition are the main factors in determining potential rental income of the units.
Most residential developments have on-site rental management companies that cater to absentee owners. If you buy a property that does not provide this service, we can provide property and rental management for short term/vacation rentals. Please contact us and we can provide information about how our rental program works.
Some general monthly costs associated with operating a rental property:
Condo Association Fees
US$1-US$2 per m2 (US$65-US$400) Depending on the property
Condo Fees May Include
Common area maintenance
Common area electricity
You may be responsible for paying your utilities separately.
Electricity – $25-$300/month (we charge rental tenants for electricity)
Cable TV – $25/month
Internet – $30-$50/month
Costs associated with replacing appliances, dishes, towels, bedding, etc.
10-15%% of monthly rent
Property management services include:
Wire transfer funds to property owner
Maintenance Fees Paid
Mortgage payments, if any, can be done for the property owner
Appliances – if under warranty maintenance and replacement service calls
Rental Management Commission
12 month lease – 1 months rent
6 month lease – 1/2 months rent
Short Term daily/weekly/monthly- 35% to 50% of daily or weekly income
We advise that you advertise on the different rental sites like HomeAway.com at a yearly cost of $329.
We advertise your property on our own rental site
We create the rental sites on HomeAway.com
We manage all correspondence with potential tenants and manage the calendar
We do the check in and check out of the guests which is often during the weekends and evenings
We make sure that your property is taken care of and cleaned before and after use
We will take care of repairs if necessary
We will pay your bills (Cable TV, electricity, gas, internet)
My wife and I had been considering a retirement property in the Caribbean for several years but couldn’t seem to find a place that had everything we were looking for. We had started our search in Mexico and then Aruba before turning our attention to the Dominican Republic, having spent time vacationing there with our children over a 10 year period. We became aware of Scott Medina through his website and after spending some time with him felt we had found the right fit with Scott and Punta Cana. Scott’s combination of deep market knowledge and a professional no nonsense style won us over almost immediately and we knew right away that looking after our best interests was his top priority. When you’re considering the purchase of a property in pre-construction, particularly in a country that you aren’t used to conducting business in, it requires you to place a significant amount of trust in both your real estate agent and the property developer. I feel that we have that with Scott as well as with Fanny and the team at Iberostate.
Once we had made our decision to buy at Iberostate and required clarification on different aspects of the acquisition process, Scott was there for us and also introduced us to a reputable attorney to look after all of the paperwork (thank-you Janelle). As the closing date on our condo approaches, we have occasionally had questions relating to property insurance and other important details. Scott has responded both promptly and courteously to all of our inquiries, which continues to impress us.
Although we had some initial trepidation about buying property in another country we have found that with Scott by our side our first real estate purchase experience outside of Canada has been quite enjoyable. I wouldn’t hesitate to recommend Scott to anyone considering the purchase of property in the Dominican Republic. In addition to being a great real estate agent, we have come to consider him a friend as well.
Keith & Suzanne – Toronto, Canada
We have had the pleasure of knowing Scott for well over a year now and he was instrumental in helping us find a suitable vacation property in Punta Cana. We found Scott to be extremely knowledgeable about the real estate market in Punta Cana and he patiently showed us a number of properties until we were able to find the right property. Scott helped us get the right property close to the beach and he was also very helpful in negotiating a good price for us.
The best thing we like about Scott is his quick follow up to answer any questions or deal with any concerns. Scott is highly respected in the Punta Cana real estate business and working with him was like “a one stop shop”. Scott was able to refer us to a reputable lawyer to assist with the closing for our condo. After we closed, he also referred us to a very good interior decorator who assisted us with furnishing our property according to our tastes. He even assisted with obtaining necessary property insurance for our condo, opening bank accounts, opening utility accounts etc., which made our first real estate purchase experience outside of Canada a real breeze. Our condo purchase transaction closed in January of last year and because we got to know Scott and found him to be very reliable, always helpful and above all honest, we decided to retain Scott as our property manager and he is currently managing our rental property in Punta Cana.
We actually spent a couple of weeks at our condo last summer and got to get a feel of the real Punta Cana (outside of the resorts) and simply fell in love with Punta Cana and its people. Punta Cana has a lot to offer and we are hoping to be able to spend more time at our condo in Punta Cana this year. Needless to say, we are very pleased with our decision to purchase a property in Punta Cana and can hardly wait to return to paradise.
Munir & Fawzia – Toronto, Canada
We worked with Scott for the purchase of our condo in Bavaro. Scott’s professionalism and knowledge of the area was essential to our finding the perfect place to meet our needs. He listened to us and worked to assure that we got exactly what we wanted in our retirement condo. His assistance with finalizing the details, as well as working with the local people, was essential to our comfortable transition to this new life in the Caribbean. Now, if we could only retire early and move there now!
Joe and Beth M. – Columbia, Missouri USA
I am so happy I have finally found my place in the Caribbean!!
I met Scott Medina in April 2009. He was referred to me by a friend. Scott has provided professional service and all the information I needed to buy in Dominican Republic. He answered all my questions about buying in the DR and also when I have been back in the country he has helped me and answered many questions. La Costa Destinations International Realty is a very good company. They find everything you need and when you contact Scott, he is very fast to answer.
Punta Cana is very nice country, the beaches with white sand and the color of the sea is marvelous. It is also secure to walk in the street, to buy food, go to restaurants or shopping center. Everything is close. I will not hesitate to recommend Scott Medina or his company because the service is PROFESSIONAL!!!
Thank you very much Scott for everything and for helping me find my place in Punta Cana
Louise – Quebec, Canada
Scott Medina is a go-getter agent/manager who gives of himself 24/7 and is generous with his knowledge of the area and the availability of talent. He sold us our unit and manages our property when we are not in D.R. Our condo is continuously rented, and Scott makes sure it is clean, and the tenants are trustworthy with our property. You can be assured you are getting the best with Scott Medina and his company.
Ela & Jack – West Palm Beach, Florida USA
Our experience with Scott Medina and his team was nothing but positive. We found them to be informative, enthusiastic and accommodating at every step in the process of buying and managing our vacation home in Punta Cana. Scott & Ellen’s attention to detail and willingness to listen to and address our needs is extremely important to us and we look forward to a long business relationship. We feel confident in giving our highest possible recommendation to Scott & Ellen who are trustworthy, dependable and friendly people that will always do their best for their clients.
Dan & Patricia S – Pennsylvania, USA
Author: Scott Medina
Buying a condo can be an exciting development in your
life. It can open up an avenue to an exciting new life. However, it is
extremely important to keep certain points in mind and ensure that you follow
certain guidelines to ensure your dream does not turn into a nightmare. Buying
condos in Dominican Republic is an amazing option. However, there are
certain rules to adhere to before you take the plunge. Given below are five
very important tips to consider before you make a decision.
The first thing that will pinch you is the price.
Considering the price is a very important factor that you should not ignore.
You may have all the funds to buy the most expensive condos but the purchase
should be worth it. There is a notion that people have about the selling of
condos, which is not true. You do not earn money by selling it. You earn money
buy paying the right price for it. If
you buy in an inflated real estate market,
there is no way that you will be able to sell it at a higher price. It is
always advisable to check the market conditions before jumping to conclusions.
It is a onetime investment, after all.
of the Developer:
You may not realize it, but buying condos in Dominican Republic from an
experienced developer can make all the difference. The real estate business is
a high paying business. Amateurs with absolutely no prior experience often jump
into this business. They offer designs that look good only on paper and the
quality may not be up to the mark. You must do a thorough research to ensure
that you are making the deal with an experienced developer who is local and has
a good name in the neighbourhood.
The price of the condo may be perfect and the
developer may also be a well known one. However,
you still must look at certain factors like the size of the project, layouts,
designer, amenities and the likes. They must stay true to their word.
You may have found yourself one of the perfect
condos in the Dominican Republic but that is not it. Just because the
condo is perfect, you cannot dive in head first. You must also take a look at
the neighbourhood to ensure that your decision is right. Your neighbourhood and
the location of your condo will decide the fate of the property. If it is not
in an appropriate area, you may find it difficult to resell the condo when the
need arises. You may also face difficulty when finding tenants for your condo.
It is very important that you have a concrete plan in
place before making a decision. Usually, you must
consider certain questions related to managing property, capital gains taxes
and the likes before drawing a conclusion.
Once you have all these in place, buying a condo is
just one step away.
Sometimes, even small reasons are enough for a grand
celebration; sometimes, you need no reason at all. Celebrating life is
extremely important. Going on vacations with your family is a very important
aspect of enjoying life together as a family. It could be for a grand family
reunion or a simple vacation to let go of your chaotic life. In any case,
renting the perfect punta
cana villas is a great way to ensure each and every member of your
family has a great time. However, to ensure maximum satisfaction, it is
essential to look out for certain guidelines to maximise your holidaying
experience. This may seem very trivial, but reading the guide book of a
particular location you plan to visit is an excellent way to familiarise
yourself with their culture, traditions, exotic locations and culinary
lifestyle. You can enrich yourself with this information, which will later help
you to decide where you would like to stay.
The next question that you need to ask yourself is the
type of vacation you are looking forward to enjoy. You may want to spend time
with your family lazing by the pool and occasionally throw in some sightseeing.
You may not want to travel a lot. Instead, you may just want to bathe in the
warm sun sipping luscious fruity cocktails. On the other hand, some may want to
explore the location and its cultural and traditional aspects, not to mention
their scrumptious food specialties. If sightseeing and exploring is what you
are looking for, then renting punta cana villas
in central areas will be the best option for you. Choosing the right location
matters a lot more than you may think. If you wish to explore the local museums
and shops and you wish to soak yourself in the hustle and bustle of city life,
renting a villa in the city or town will be a good option. Staying in the city
gives you an excellent opportunity to explore the night life and other shopping
destinations. You could use public transport or hire private transport
If a more rustic vacation with your family is what you
are looking for, you must definitely opt for the countryside. This is the best
way to go back to the roots of the place with traditional lifestyle, isolated
from the rest of the world and tucked neatly in a valley, farm or an estate. It
is the best way to indulge in traditional food and culture, not to mention some
authentic country music. If you wish to have the best of both worlds, that is,
city and country life, you could choose best punta cana villas in the suburbs.
This is the best way to taste a bit of city life with the hint of the
countryside. You can use public transport or hire private vehicles to get
access to both regions and have a fun day out with the family.
If you wish to take some time off and spend some
quality time with your loved one, renting a vacation home is your best bet.
Away from the chaos of everyday life, you can escape into a completely
different world; all you have to do is rent a Dominican
Republic apartment and you are set. This is a great way to keep a check
on your savings as you will not be paying through your nose for it. Besides,
you can relax in the lap of luxury and let go of everything else for a little
However, there are certain things that you need to
keep in mind before you rent an apartment, the first and the most important one
being your priorities. You may want to first settle on a budget. For this, you
must log in to their official website and use the various filters provided to
sort out the rental apartment for your stay. There are filters for price,
location, type of apartment and the likes. Use them to your advantage.
Look at the photographs and images provided on the
site to get a clear idea of where you will be staying and whether it is
acceptable to you or not. Closely look at all the interior and exterior view
photographs. Sometimes, some companies cheat by publishing photos that make the
rooms look larger than they actually are. If you want to rent the perfect Dominican Republic
apartment, you need to get down to details. You need to ask every
important detail relevant to your stay like the arrangements for sleeping, equipment that will be provided in the kitchen, bathroom facilities and the
like. Usually, it is best if such conversations take place on the phone.
However, e-mails are fine too. Another way to ensure that the apartment you
choose is a good one is by thoroughly going through the reviews and knowing
what previous guests had to say about the place. They are your best critics and
their opinions will help you shape yours.
mistake most people make is not booking the apartment well in advance. There
are many vacationers eyeing the Dominican
Republic apartment and if you do not book early, you may lose it to
someone else. Try booking the apartment well in advance to avoid
disappointment. The next most important point you need to consider is having
travel insurance. This can help you immensely if some unforeseen incident takes
place. There is a possibility that you may not be able to make it to your
vacation. In any case, a refund may be possible with the help of travel
insurance. Finally, it is okay to overlook certain trivial issues. It is a home
after all; not a hotel. Your main idea should be to go out there and have fun
and relax. Spend some quality time with your loved ones and replenish all the
lost energy from the everyday chaos.
• 140 sq. m., 2 bath, 2 bdrm apartment
– Iberostate Golf Condos
Bávaro, La Altagracia
IBEROSTATE Golf, Villas & Condos, is the new real estate division launched by GRUPO IBEROSTAR. IBEROSTATE will specialize in the construction and development of luxury housing in special locations integrated in lovely golf courses with the utmost respect for the surroundings.
Luxury villas with ample living areas, large balconies and terraces with a private swimming pool. Cosy and spacious luxury apartments designed for maximum comfort including Private BEACH Access. Excellent connections to the Punta Cana International Airport – 15 minutes. Access to a selection of services of a 5-star resort. Spectacular golf courses perfectly integrated with the villas and the condos.
IBEROSTATE Golf, Villas & Condos will offer a wide variety of services to ensure your well-being, privacy and absolute security at all times. GRUPO IBEROSTAR main goal is your comfort and complete security. You will be ably to enjoy your leisure time worry and stress free. Think of how you might invest your time while IBEROSTATE Golf, Villas & Condos prepares everything for you.
Shopping centers, restaurants, supermarkets and more.
24-hour medical centre.
Tennis courts, sport complex, fitness centre and spa with sauna and massages, swimming pools.
24-hour security (enclosed resort).
Special services such as airport transport service, catering, private chef, laundry, provision of food supplies prior to arrival, pharmacy and business centre, among others.
IBEROSTATE Golf, Villas & Condos designed by P.B. Dye, who has done a magnificent job of delighting golf fans from around the world. IBEROSTATE Golf, Villas & Condos has made a strong bet by offering everything needed to play: a perfect climate, finest and most carefully maintained installations, great care in the vertical movement of the course and unique work with stone and rocky materials, all create an incredible setting for enjoying a golf match and improving your handicap.
• 170 sq. m., 2 bath, 2 bdrm apartment
– Corte Sea
El Cortecito Beach, Bávaro
Corte Sea 2 BDR PH for sale
Spacious 2 bedroom, 2 full bathroom condo (1,184 sq. ft.) plus PRIVATE ROOF TOP TERRACE (645 sq. ft.) located at a short stroll (7 minutes) to the beach, restaurants, supermarkets and all amenities. Large swimming pool and Jacuzzi and small gym on the premises.
A great floor plan consisting of a living room with large dining room and open kitchen with granite counters and stainless steel appliances with microwave, toaster and blender, dining area that seats 6, master bedroom with Queen size bed and en-suite bathroom and walk-in closet, 2nd bedroom with 2 Full beds, a separate bathroom, laundry room with washer and dryer, large roof terrace, full AC split units, ceiling fans, free WiFi internet access, Cable TV and 24/7 security. Sleeps 6. Large swimming pool with sun deck. 40” LCD HDTV. Security deposit box in the unit.
dream of owning a property in the Dominican Republic. Many think about it,
fantasise about it and tons of investors every year plan for it and go ahead
and buy fabulous real estate in this beautiful country. Punta Cana remains one
of the most popular places to buy property in the Dominican Republic and for a
variety of reasons; the beautiful beaches being just one among many!
of investors from Europe, Canada and the United States is immense and continues
to grow as people want a little (or big) piece of their own kind of heavenly
retreat in this tropical paradise and Punta Cana real estate is
generally among the top picks.
Republic authorities on the whole make investing here for foreign nationals a
pretty straightforward and simple process. It is also not very difficult
compared to many other countries to get the appropriate visas and even your
residency and work permits. This is definitely part of the charm when considering
a place like Punta Cana to invest in.
A region located in the eastern most end of
the Dominican Republic, Punta Cana houses some of the most popular resort
towns, parks and areas in the country. Miles of sandy beaches, swaying palm
trees and reasonably good weather throughout the year, make it a idyllic spot
for holiday makers and beach bums. These are all good for a holiday, but what
are the aspects that make owning a property part of the Punta
Cana real estate market
specifically worth it, you ask?
is one of the best regions in the country in terms of connectivity. The Punta
Cana International Airport is known to be the most well connected with regular
scheduled flights from major airlines like United, Jet Blue, US Airways, Delta,
American Airlines and Air Canada to name a few. It is also just a couple of
hours drive away from places like Santo Domingo and La Romana and very close to
big resort areas like Uvero Alto and Bavaro.
since the region sees a large amount of tourist activity every year, if you do
indeed buy a home, apartment, villa and the like here, rest assured it will not
have to go empty for very long. Even if you plan to live here just a few times
a year or sometime in the future, it is not that hard to find vacationers to
rent out your property too. Besides the sheer variety in the kinds
of Punta Cana real estate
available in prime areas, make it easier for you to pick something specifically
geared toward bringing you that additional income.
the region does not lack for anything. You will find well developed medical
facilities (a must if you plan to live anywhere long term), tons of
recreational activities, loads of restaurants and bars and a bustling
night-life scene. At the same time it offers pristine and serene pockets that
are ideal to simply relax and unwind in.
worth considering, wouldn't you say?!