The Dominican Republic Overview, History & Real Estate

Located in the West Indies, the Dominican Republic occupies eastern 2/3 of the island of Hispaniola. The island is made up of a diverse geographical landscape including lush rain forests, desert plains, and a host of mountain ranges, the tallest of which features Duarte peak, the highest point in the Caribbean region and rising 10,417' above sea level. The Dominican Republic is equal in size to the states of Vermont and New Hampshire combined.

Originally explored by Columbus in 1492, the island hosts a proud and storied history. The Capital city of Santo Domingo was founded in 1496 and is the oldest European settlement in the western hemisphere. In its modern day, Santo Domingo is home to more than 2.8 million residents and hosts one of the busiest sea ports in all of Latin America.

The Dominican government is a representative democracy having held free elections for more than 50 years. The Dominican Republic government is regarded as a fair, progressive democracy with a close association to the United States.

The Dominican Republic military includes; Army, Navy and Air Force. These military branches share a primary focus in monitoring the countries many international sea ports and seven international airports. Furthermore, the military is charged with policing the border that divides the Dominican Republic and Haiti.

Art and music play an important role in modern day Dominican culture.The Dominican Republic is home to many local artists including poets, painters and novelists. The Dominican Republic also features the oldest and best preserved colonial district in Latin America. Dominican folk music features instruments such as; maracas, tambora (small drum), accordion, and the guirra (percussion instrument scraped with a metal rod). The Dominican national dance is the meringue.

Due to its size, numerous mountain ranges and desert areas, Hispaniola generates many tropical micro-climates.The island is blessed with year round trade winds and lush vibrant eco-structure. Average year round daytime temperatures are 82F / 28C with rainfall varied by region. There is no specific wet or dry season. Much of the islands rainfall comes at night resulting in a nearly perfect climate.

Dominican Republic Real Estate / Investing in a Tropical Paradise

In the early 1980s the Dominican Republic began its journey into the spotlight as an international tourism destination. With immigrating residents and visitors from France, Canada, Germany, Austria, Italy the United States, the UK Russia and Scandinavia, the Dominican Republic has evolved into a melting pot of cultures. These new settlers have brought with them the importation if international foods, languages, styles and thanks to a welcoming Dominican culture, have blended into the tropical landscape with ease. This has opened a door for real estate investment and opportunity. The Dominican Republic is among the largest islands in the Caribbean and hosts more than a thousand miles of coastline. This combined with its lush, tropical landscape, stable democratic government and robust economy has made it a select choice for foreign real estate investment. Although this trend began thirty years ago, there is good news for new investors to the country. The demand for Caribbean island real estate has not caught up to the supply of available land in the Dominican Republic. Again, the Dominican Republic is a large country and the majority of the coastal land remains as undeveloped farm land. Compared to alternative emerging countries in the Caribbean region, the value proposition of investing in the Dominican Republic stands out. 

Dominican Republic real estate laws (English Law) allow non-residents the opportunity to purchase and own property without special permit. There are several international vacation and residential areas throughout the country welcoming a host of cultures and nationalities. The Dominican people are friendly and welcoming making the Dominican Republic a safe and enjoyable destination for international travelers and those wishing to relocate to a tropical destination.

Dominican Republic - Facts

Population                 9,700,000

Land Area                 18,680 Square Miles / 48,831 Square Kilometers

Capital City                Santo Domingo - Population 2,800,000

Economy                    80 Billion USD

Growth Rate              1-2%

Literacy Rate             85%  

Monetary System      Dominican Peso

Trade Partners          United States, UK, Belgium, Mexico, Columbia, Venezuela

Natural Resources    Nickel, Bauxite, Silver, Gold

Industry                     Tourism, textiles, gold mining, sugar processing, ferronickel, cement

Agriculture                 Sugarcane, coffee, cotton, cocoa, tobacco, rice, beans, potatoes, corn,                                           bananas, cattle, beef, dairy products, beef & eggs

Beach Front              1000 Miles