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Dominican Republic

The Best Time to Invest in Dominican Republic Real Estate

There has been a lot of talks about the impact of recession in the US on Dominican Republic Real Estate and its future outlook. When speaking about the Dominican Republic Property market, most people think that it is closely related to the US economy. Some people may have a sceptical outlook for the Dominican Republic property market market. But a depth study will show a bright future for Dominican Republic Real Estate in the next years.

The home market in the DR has witnessed constant appreciation in values in the last 7 years. Both, villas and apartments in the Dominican Republic, new ones and resale units have shown this growth. The property market in the DR is very popular with American and Canadian citizens who like to own a second home or vacation property near the ocean. Some reasons for this popularity have been its proximity to the US and Canada, low living cost, more value for money, no or very little property tax and the warm Caribbean climate. The last years have seen thousands of Americans and Canadians purchasing villas and condos for their retirement in the DR. Moreover, infrastructure in the DR is going to improve to international standards. This has made the Dominican Republic a highly desired destination for vacation and retirement in the sun.

Now you may ask what's the reason the Dominican Republic real estate market doesn't suffer much as a consequence of the fall of US economy in the last 2 years.

Destinations like Punta Cana, Bavaro, Uvero Alto and Bayahibe are very popular with real estate investors in the Dominican Republic. These destinations are seeing new, large real estate developments planned and completed to meet the high demands of the buyers eager to purchase Dominican Republic properties. With the introduction of financing for US property investors in the Dominican Republic, the increase of buyers has strengthened the growth of the property market in the DR. Since, the whole lending and application.

The DR property market is much more stable than the property market in the US. Residential mortgage backed securities, popular in the United States real estate market, are not used often in the Dominican Republic, so they have very little effect of the sub-prime crunch afflicting the real estate market in North America.

Another fact is that the people who are looking to buy vacation homes in the Caribbean are not really experiencing too much of the current recessionary effects in North America.

A very interesting point seen in the Dominican Republic property market is the increase in real estate buyers from Canada. Canada had a very strong currency recently. Good economy and increased home values, especially in the three big cities of Toronto, Vancouver and Edmonton , have led to a huge amount of Canadian home owners able to purchase a second or vacation home in the Dominican Republic.

The Dominican Republic, especially Punta Cana-Bavaro, is a encouraging and steady destination for property buyers throughout the coming years. Recessionary influences of the US economy have not shown any negative impact on Dominican Republic property values. Foreign investors from Canada, Western Europe and Russia are now looking to buy in DR, compensating for any decline of investment money from the US. So don't hesitate to buy your piece of paradise in the Dominican Republic and secure your investment on this beautiful island.

About the Author

Andreas Schlenker is analyzing the Dominican Republic Real Estate market for many years. He is broker/owner of Trust Real Estate in Punta Cana. For more info visit please visit http://www.punta-cana.us

How do i become a citizen of the Dominican Republic?

I was born in the USA,but both of my parents were born and raised in the Dominican Republic?

Yes you can do this if you are 18.

"As for those inquiring about Dominican citizenship, you are entitled to citizenship by being the child of a Dominican citizen ...US-born children who have a Dominican parent have the option of acquiring Dominican citizenship once they are 18 years old. The person would then be both an American and a Dominican."

Citizenship for the Children of Dominicans in the Dominican Republic

For the children born to Dominican parents, the process for obtaining citizenship can be simple if you have all your documents organized, and understand the details of the process. Because of constitutional amendments, the children of Dominican parents born outside of the country are, if they so choose, citizens of the Dominican Republic, and can apply for official citizenship once they turn 18, needing only to submit the necessary paperwork.

IN THE UNITED STATES
First, obtain an official copy of the birth certificate (no photocopies). Second, take the birth certificate to the closest Dominican embassy or consular office and have them legalize the birth certificate. There is usually a fee for processing the document, which is about US$40.

(It doesn't say but I think you need to present your parent's birth certificates and marriage certificate, just to be safe be sure you have them).

Contact the nearest Dominican Consulate or Embassy to learn what you need to do.

Dominican Republic

Tags: dominican, dominican republic, dominican republic earthquake, dominican republic map, dominican republic resorts, dominican republic weather, dominicanrepublic, republic, travel, vacation

This entry was posted on Sunday, February 22nd, 2009 at 11:09 am and is filed under paintings. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.