1) Low Crime Rates
Punta Cana, and the touristic beach-towns of Bavaro, have exceptionally low crime rates, primarily because they thrive on tourism and because the police and government work hard to keep its tourists safe. Yes, on rare occasions, like anywhere in the world, there can be some petty theft… or crimes of opportunity, but, tourist and Expats, foreigners’ living and / or working here feel safer on the East Coast of the Dominican Republic than in many other Countries and Cities worldwide. Drugs, although higher rates in the bigger cities, is considered low in Punta Cana / Bavaro. Penalties are severe for those who sell or smuggle drugs into this country. Murders, rapes, and kidnapping of tourist is unheard of in Punta Cana and Bavaro.
2) Investment – Purchasing Power
- Smart investors, and those looking for a full or part-time vacation home are purchasing in Punta Cana & Bavaro for the impressive return on their investment. Whether through a resale or new construction, the Dominican Republic offers some of the best real estate opportunities in the Caribbean. Properties are still affordable, sustaining some of the best property values worldwide. Since January 2022, prices of remaining inventory have been on the rise due to high demand and low supply for those properties a short walk to the beach. Many foreign investors who do not live here full time leverage their purchases as income properties (vacation rentals).
- Purchasing Real Estate in the Punta Cana-Bavaro, specifically the El Cortecito and Los Corales areas, as well as in La Romana (located 45-minutes from Punta Cana) offer exceptional investment opportunities. This is primarily because Punta Cana/ Bavaro are worldwide key tourist destinations with over 60 world-renowned all-inclusive resorts, 11 Championship Golf Courses (PGA Tours), affordable land within a 5-10-minute drive to the beach, providing all the commercial areas needed for comfortable living or vacationing, Numerous desirable residential condo and villa communities abound, Many providing impressive ROI’s. This East Coast of the Dominican Republic has experienced continued international exposure and growith since 2010, and as a whole, boasting exceptional and continued GDP annual economic growth to date. According to "Statista"; by Dec 2022 The gross domestic product in current prices of the Dominican Republic has continuously increased between 2022; total of 48.4 billion U.S. dollars (+43.05 percent). The GDP is estimated to amount to 160.81 billion U.S. dollars by 2027.
- As a bonus, foreigners can buy and own real estate or other property in the Dominican Republic freehold (free and clear titled property with your name on the deed) without the need for residency. The one-time title transfer tax is below the U.S. averages and well below the averages of other Caribbean markets. The DR also offers many incentives to foreign investors, like property tax exemptions for purchases where the lower assessed Value (or IPI Valuation) is under 9.3 million pesos; equivalent to around $169,000 U.S. at todays .55 currency rate exchange average, Several NEW condo construction developments qualify for this government tax exemption called CONFOTUR; in summary; buyers of qualifying pre or under construction properties can benefit from exemption of the onetime 3% title transfer tax AND are guaranteed a 15 year property tax exemption. Property tax is 1% of the lower IPI value (Assessed value).
- The Punta Cana and Bavaro real estate markets provide strong and consistent long-term appreciation values. Foreclosures or short sales are rare because most foreigner purchased investment properties are purchased with cash, or Direct Owner/ Seller Financing. Most properties on, or near the beach in the beach-town areas of El Cortecito and Los Corales (in Bavaro) are newer; built 2007-current, so distressed properties are rare. Regardless, RELIABLE REALTY SRL is FULL-SERVICE and can assist with all improvements and renovations to a property if desired, or needed.
- As a reminder, the city of Bavaro is located next to Punta Cana. Bavaro consist of its HGTV renowned beach-towns of El Cortecito and Los Corales which have become one of the most popular condo- vacation rental destinations in the Caribbean since 2015. More part-time and full time residents often purchase and settle in "Punta Cana Village", "Residential Cocotal Golf and Beach", "Residential Villas Bavaro", "Costa Bavaro and now... near Downtown Punta Cana (which is actually in Bavaro... it is NOT located in Punta Cana). The districts of Fruisa and Veron are also booming with new and more affordable apartments and small villas. Many areas to explore for real estate and business ventures as well!
Punta Cana’s beaches are renowned for their soft-white sand, vivid turquoise ocean water, consistent ocean breezes, and an abundance of nature and palm trees. Construction structures cannot be built higher than the tallest palm tree. Punta Cana's 30+ mile coastline offers a coral reef barrier that protects from storm surges, additionally keeping sharks, jelly fish, and sea rays away from the shoreline and swimming areas.
Currently there are over 60 all-inclusive resorts along the Dominican Republic's Eastern Coastline. Numerous condo communities sandwiched between these all-inclusive resorts, stretching over 30 miles from Uvero Alto to Cap Cana, with beautiful beaches abounding.
4) World Class, Championship and/ or PGA Golf Courses located from a walk away, to just under a 1-hour drive. Over 13 world-renowned Golf courses, with 3 hosting the PGA tours. (Golf page link coming soon).
5) Near Perfect Climate Year-Round. It is almost always warm and sunny in Punta Cana, with average year-round temperatures averaging 28 degrees Celsius (or 82.4 degrees Fahrenheit). It may rain at night and/ or in the morning, with some short sprinkles mid-day. Rainy season in the DR is from early September – mid-October. Rain showers are on and off, lasting an average of 20 minutes per rainfall for an average of 3 to 4 days a week. The remaining months rain lasts no more than 2-15 minutes intervals. Enough to keep everything lush and green. When people ask me “what is the weather like in Punta Cana?” I always say… “Same as it was yesterday, sunny and warm with some needed rain”
- Ironically in September & October, the temperatures are exactly right, and prices of most everything are lower. However, tourist traffic is also lower as tourist believe it will rain a lot. The East Coast is not really affected by storms nor hurricanes. This is because the East Coast of the Dominican Republic are geographically positioned where the atmospheric high and low pressures force incoming storms to go to the North or the South of this big island. The locals (and expats) are not as concerned about rain. In contrast, they look forward to a bit more rain and slightly cooler temperatures that are ideal for thriving agricultural.
6) Lower Hurricane Belt
Officially, the Atlantic Hurrican season begins on June 1 and extends to November 30. Historically, however, most hurricanes occur between September 10 – 24. The chances of a no. 3-4 hurricane seriously impacting the East Coast of the Dominican Republic, especially Punta Cana, is very slim.
- Only 15 hurricanes have actually hit land in the Dominican Republic since 1894.
Of these fifteen hurricanes, only four, since 1894, side-swiped onto the shores of the East Coast slightly affecting the Punta Cana & Bavaro resort- and touristic areas. In 2017, ”Hurricane Maria” came to the East coast as a category 3, but quickly dissipated to a no.1. On September 19, 2022, Hurricane Fiona did a surprise turn, going through land near Cap Cana and Punta Cana. Some damage, which was quickly cleaned, with no loss of life. For more on this subject and how it relates the Dominican Republic’s strict building code construction requirements, check out the Punta Cana TV YouTube video on “RELIABLE REALTY’s Media Center” page.
- A combination of geographic and meteorological reasons account for this unique weather phenomenon for the East Coast of the Dominican Republic.
- Unfortunately, Puerto Rico often takes the brunt of the storms. Residual winds (or tropical storms) typically work themselves to the north or south of the Dominican Republic and get carried away by natural jet streams (high / low pressure systems) around the sharp geographic tip of the East Coast.
7) Lower Cost of Living
- Overall, when comparing costs in Canada, most European Countries, and some U.S. States, the cost of living in Punta Cana is much lower. The following examples are affordable: (1) Many Professional services; (2) manual labor / and repairs; (3) Insurance; cars, home and health, homeowners insurance; (4) Medical and dental costs, in fact, Punta Cana is known worldwide for its exceptional and affordable Dental services; (5) Veterinarian costs; (6) Real estate, especially if comparing to other Caribbean or Central American locations; (7) Reasonable Rental rates; (8) Internet and cable TV; (9) Entertainment; (10) Food, although a bit more expensive in, or near the tourist zones. The best grocery prices are within the larger grocery supermarkets (mall areas). On the East Coast, these mall areas are within Downtown Punta Cana, and Punta Cana.
- Higher costs, when comparing to the U.S. In general, those products that are not made in the Dominican Republic and must be imported. Examples are: (1) Cars; (2) Many electronics like plasma TV’s, laptops, etc. It should be noted that prices of cars and electronics have been going down since 2015. (3) imported Furniture and appliances. Punta Cana and Bavaro how have some nice furniture stores and showrooms. (4) Gasoline is now closely comparable to the U.S. averages. Throughout 2022 the price per gallon averaged $5.15 U.S. The Dominican Republic uses gallons in gasoline measurement, not liters.
- Other more expensive commodities are Name-brand clothing, due to shipping taxes and tariffs. Electricity, however, since it is always warm, gas or propane heat is not needed. Solar panels are available, and rather affordable to help offset this cost if desired. According to Numbeo, the world’s largest cost of living database, the Dominican Cost of Living (not including rent) is approximate 44% less than the U.S. average.
8) Rapidly Growing Infrastructure
- The Dominican Republic is NOT a “third world” country; This is an outdated reference when the world had a 1st, 2nd, and 3rd world labels, or classes. RATHER the correct description for the Dominican Republic is a "DEVELOPING COUNTRY". This is the perfect investment climate for investors as the economic conditions continue to improve rapidly. According to Wikipedia, "The economy of the Dominican Republic is the largest in the Caribbean AND the Central American region, and the seventh largest in Latin America. The Dominican Republic is now a middle to upper-middle income country with important sectors including mining, tourism, energy, manufacturing (medical devices, electrical equipment, pharmaceuticals, and chemicals). A busy and active Real Estate market, with impressive infrastructure, telecommunications and agriculture advances developed in a very short period of time. The Dominican Republic is on track to achieve its goal of becoming a high-income country by 2030, and is expected to grow 79% in this decade".
- Telecommunication and transportation are readily available throughout the country, with high speed fiberoptics internet (if desired), satellite TV, etc. The government has pumped millions of dollars into new highways and general road infastructure and improvements. In 2018 the Coral highway (or Interstate 3) was completed, as well as major improvements to the primary Interstate 4; making travel from Punta Cana to the rest of the island fast and easy. For example, the time from Punta Cana to La Romana now takes around 45 minutes (previously 2 hours), and just over 2 hours to reach the capital of Santo Domingo. (formally, a 5.5 hour drive). The country has several international airports and the flights between Punta Cana and Miami taking approximately two hours.
- All this growth and progress in less than 20 years! While some types of infrastructure are still lacking, Punta Cana is changing and growing quickly. Less than 20 years ago, Punta Cana / Bavaro were beaches, palm trees, with narrow dirt roads and only a few small local businesses with a couple gas stations. Today Punta Cana / Bavaro, specifically the touristic beach-town areas of El Cortecito and Los Corales, and Downtown Punta Cana (located between Bavaro and the official city of Punta Cana) have quickly transitioned into fun, vibrant, yet still laid back and safe Caribbean beach-town areas, yet with numerous gas stations and businesses. For Infrastructure not yet here, this can still be an exciting opportunity for foreign investors; but not for long!
9) Tranquil Lifestyle & Expat Communities
- Life slows down in Punta Cana and relaxation and reflection are the norms. An Island where many nationalities come together to vacation, work, retire and play, in the tranquility of warm weather, gorgeous beaches, and within the friendly, easy-going Dominican culture.
- Many nationalities reside here, especially North Americans, who are now considered the primary purchasers in the beach-towns of Bavaro and in Punta Cana. Some come for the consistent warm weather, safety, lower cost of living, or to escape their countries economic stresses. Most expats agree, too many rules, regulations and laws inhibit a fun, yet responsible, lifestyle.
- The majority of people who live and work in or near the beach-town areas are North American (Canadan and American).
- However, Europeans collectively represent the primary Expats within the entire country of the Dominican Republic; Primarily Europeans from Spain, Italy, Russia, England, France and Germany.
- The Dominican Republic is additionally a popular destination for other Latin countries like Cuba, Venezuela, Argentina, and Brazil (Portuguese). Property owners and other Expats establish rewarding, long-term friendships; all while learning diverse cultures; much different here than the "division narritive" much of the U.S. media like to play out.
- Expats, regardless of their home country, often share common lifestyles, travel experiences, hobbies, professions, health and fitness goals, and more. Enjoying the benefits of various international cuisines offered by over 500 restaurants. Over 60 alone are located in the beach-town areas, within a short walk from the residential communities they own or are renting. The people who tend to navigate and STAY in Punta Cana/ Bavaro consist of an array of different nationalities. Everyone here just get along!
10) Abundance of Things to Do
- There are endless things to do, places to go and stuff to see. Incredible soft white sandy beaches, unforgettable excursions and tour offerings, waterparks, tennis, golf, boating, deep sea fishing, scuba diving, motocross, Harley, or buggy travel groups, large high-tech fitness centers, enticing local shops, delicious dining options, shopping malls, movie theaters, casinos, pubs, exciting night life – If you want to stay active you won’t be bored!
- The entire country is so diverse with endless and amazing places to explore. I.e. Some of the best White Water Rafting in the mountains of Jarabacoa, Whale Watching in Samana Bay, World Kite Surfing competitions in Cabarete on the North coast, gorgeous mountains in the North, South and Central regions, old historical forts in Santo Domingo and La Romana, and let’s not forget the soft white sandy beaches on the East coast in Punta Cana, Cap Cana, and Bavaro. We highly advise adventure seekers to get out and explore this beautiful, amazing and SAFE country!
11) Newer and Modern Hospitals
Since 2010 Punta Cana and Bavaro (and the entire east coast of the Dominican Republic) have emerged and evolved attracting visitors from around the world while addressing the growing needs of this top tourist destination. Punta Cana medical options have become more reliable and advanced with Hospitals (called clinics here). Now accepting international insurance and providing new and high-tech medical equipment with more and more qualified staff who in addition to Spanish, also speak, read and write English and French. Expats as well as tourist renting condos or staying at any of the over 60 All-Inclusive Resorts, can have greater confidence knowing they have more reliable medical care options. Especially important for primary investors who are over the age of 50.
Here are the best Punta Cana/ Bavaro hospitals (clinics) located a short drive away from all the residential communities (condos and villas).
- International Medical Group – (or IMG) is a medical group (hospital) conveniently located off the main highway between Bavaro and Downtown Punta Cana, directly across the back entrance to Residential Costa Bavaro, less than a 1-minute drive to the back entrance of Residential Cocotal Golf & Beach. IMC provides the newest medical technology available on the island. Additionally providing bilingual services with strict international standards and the Dominican Republic government branch focused on tourist. IMC provides advanced and personalized services. With North American Accreditation by the (ACHC) Accreditation Commission for Health Care; one of the top accreditation organizations in the United States,
- Hospiten Bavaro – A very established medical group for nearly 50 years (1972) with locations throughout the Dominican Republic as well as other Latin American countries. Providing both medical hospital centers as well as ambulatory health centers to provide emergency and preventative care for their patients. The Hospiten center in the Punta Cana area is conveniently located in Veron, a quick 20-minute drive from Punta Cana or Bavaro.
- Punta Cana Doctors - A leading medical group based in Punta Cana Village offering a wide range of services to locals and visitors. 17 medical specialties offering important medical exams and procedures. This group also operates a 24-hour emergency service with a convenient emergency line where callers can receive initial medical guidance from doctors over the phone. They will accept international insurance but also serve privately funded patients.
- Centro Medico Punta Cana -This is a private hospital that adheres to international standards and provides advanced care for locals and visitors. They have strong relationships with respected global institutions and use up-to-date medical technology.
NOTE: It is advisable when visiting, to secure "vacation health Insurance", as some Hospitals here, if not affiliated with your insurance provider, may require to be paid in full prior to releasing.you.
Because the quality of medical care has improving drastically since 2008, with several more medical and hospital options offering urgent and ongoing care, meeting international standards Combined with the value of Punta Cana and Bavaro (Cortecito and Los Corales Beach-towns) real estate values climbing, many new visitors (over 50 years old) are relocating to the Bavaro/ Punta Cana areas in hopes to buy their dream vacation or retirement home while prices are still affordable.
12) More Accredited schools and Universities- overview coming soon!
13) Many Business Opportunities remain Still…
Many excellent business opportunities in these areas. Growth has been phenomenal, however, often investors pursue the same things, i.e. tour companies, restaurants (bars), and rental car companies. For a savvy entrepreneur, there are still many other businesses or services vacationers, and expats need or desire. Contact RELIABLE REALTY SRL for consultation / market research and additional services we provide for business and land development opportunities with a reasonable retainer.
14) Stable Government and Economy
- The Dominican Republic has one of the most stable governments in the Caribbean. With many allies around the world, and no enemies. Although legal residency is required for those living here full time, the government has a cheerful outlook toward free enterprise for foreign investors, requiring less regulatory red tape than many other Countries pertaining to legal residency. With easier steps for legally establishing a Dominican business corporation.
- The Dominican Republic has one of the fastest growing economy in the Caribbean with an impressive Gross Domestic Product (GDP) since 2010. Expansive trade in import/ export with preferential trade agreements with the U.S., Europe, Central America and other Caribbean countries.
- The Dominican Republic is a REPRESENTED DEMOCRACY with Executive, Legislative, and Judicial branches, along with Municipal Government and Administrative Divisions representing 31 Provinces, with 3 primary Parties; The Modern Revolutionary Party (PRM), the Dominican Libertarian Party (PLD), and Social Christian Reformist Party (PRSC).
- The impressive GDP increases is just 1 strong indicator the Parties are working. Of course, no one Party is perfect for everyone. A quick plea to Dominican Politicians; PLEASE..DO NOT SUBMIT to other governments and their "gifting inticements".
- The Dominican Republic’s “middle class” has been growing since 1980. This growth can be contributed, in part, to better education with more universities offered at affordable tuition fees. There still exist a social economic division between the wealthy and the poor Dominicans, however, this division is forecasted to narrow substantially by 2030.
- Education efforts have increased 10 fold since 1980. Televisions, phones, computers are now more affordable and more accessible to even to the poor. More political attention and support has shifted towards the importance of better education, as well as more in-country manufacturing. Efforts headed in part, by 2020 President "Luis Abinader", a postgraduate at Hult International Business School in Cambridge, Massachusetts.
- Overall, the 3 major Parties of the Dominican Republic have done decent jobs in addressing the rapidly changing, and challenging needs of the Dominican people. Like any country, there are, and will always be, political preferences and divisions by income. OF COURSE, LIKE ANYWHERE... MORE CAN STILL BE DONE.