There are various reasons that prompt a person to buy a luxurious home in the Dominican Republic. The country is one of the most travelled and famous locations in the Caribbean. The tropical climate has always lured people out of their mechanical western lives, who travel to Punta Cana to find peace, spend a relaxing time with their family or friends. The Dominican Republic is one of the best places to retire and buy real estate due to the flexibility of the market towards foreign investors. The country is undergoing rapid development and building a strong economy favouring the growth of various business sectors.
How to buy a house in Punta Cana?
The Dominican Republic allows foreign investments and in fact encourages them through various tax incentives. Whether for personal use during vacations or as an investment, looking into houses for sale in Punta Cana can be an exhilarating experience and a big step in life. After finding the property and settling on a price, a compromise of sale is signed between the parties with a down payment of up to 10% of the total cost. Generally, the funds are deposited through bank transfer or via cheque. After the remittance of funds, the title is transferred to the new owner of the property.
Financing is also a common discipline when buying property and a lot of sellers offer direct owner financing. After a down payment, the rest is financed under a fixed interest rate for 5 to 20 years.
Buying property as a lifestyle
Punta Cana is located on the southeastern coast of the Dominican Republic and is home to some of the most pristine beaches in the world lined with endless stretches of palm trees, a soft cool breeze and a wonderful climate. Living in Punta Cana is tasting a slice of paradise. World-renowned celebrities visit the beach town regularly and can be spotted in the various exotic locations around the country. The country provides entertainment facilities at par with the international standards, including luxury hotels, resorts, restaurants, pubs, casinos and so on.
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