The Dominican Republic offers the white-sand beaches of Caribbean living for a steal and is only a two-hour flight from Miami. The “DR” is no secret and there are posh areas with sky-high prices, but other towns like Las Terranas have properties available for a song. Expats enjoy unbeatable asset protection in a country that also offers simple residency requirements, making it ideal for retirees who want to get more for their dollar – and more dollars. For more on this continue reading the following article from International Living.
Columbus landed in the Dominican Republic in 1492—the same year he “discovered” some of the other Caribbean islands.
Like those other islands, the “DR” is ringed by white sand beaches and coconut palms. Unspoiled towns boast stone churches and candy-colored home facades. But, according to real estate expert Margaret Summerfield, that’s where the similarities end.
Because unlike so many nearby dollops of sand, the Dominican Republic still offers very low property prices… a reasonable cost of living… and, in the beachfront community of Las Terrenas in particular, the chance to enjoy an old world Caribbean lifestyle for pennies on the dollar.
I’m at International Living’s only U.S. event of the year: Our Live and Invest Overseas Conference 2011. Thanks to my front-row seat, I’m able to report back about exactly where—and how—you could live a laid-back, luxurious lifestyle…no matter how small your budget…
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Margaret has our attention riveted on some pretty spectacular beach shots—and she’s assuring us that it’s every bit as good in person as it looks on the screen.
The Dominican Republic is two hours from Miami and four from New York. It’s easy to get residency. You’ll enjoy temperatures of 80F year-round.
Thirty years ago, Las Terrenas was a rustic fishing village. Europeans began to visit—mostly French and Italian. Some stayed to make homes and start businesses. Today Las Terrenas has a total population of 25,000—a third are expats. And now in increasing numbers, Americans are coming to this comfortably “European” enclave.
The Dominican Republic is not unknown. Playa Coson topped the list of Luxury Living International magazine’s top 10 beaches to live last year. This is where a luxury hotel charges $700 a night.
Yet you can buy a three-bed house with a pool here for $275,000. It can rent for $1,200 a week and gets 50% occupancy.
You can buy big villas and small studios in Las Terrenas…and if you don’t mind being a little off the water, you can get your own Caribbean hideaway for around $70,000, about 10 minutes from the beach.
This article was republished with permission from International Living.