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Frequently Asked Questions
If you are looking for where to start your investing journey within Punta Cana, you've come to the right place. At Happy Living Punta Cana we want to make sure you are prepped with all the information you need to make the right decision for you.
We've gone out and have gathered the top questions that people have when interested in investing in Punta Cana. At Happy Living Punta Cana we are always here to answer further questions you may have so feel free to reach out if there is a question you may have that is not answered here!
What are the benefits of investing in Punta Cana?
There are many benefits to investing in property in Punta Cana. Below are a few of our top ones:
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Lower entry price point than other more developed markets
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Easy to access location - Punta Cana is home to the second most international airport in the Caribbean. Ease to get to means more opportunity for visitors or more options for you to get to your investment from wherever you are.
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Booming tourism in the region - investments from top tier hotel chains, top experiences available and overall growth in the sector make it a great time to consider an investment here.
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Having a place to vacation at as well as invest in is a win/win!
Which neighborhood in Punta Cana is the best choice?
A bit of background for those people who are not aware of where Punta Cana is and what actually has a lot of neighborhoods within it.
Bavaro
How much money do I need to invest in property in Punta Cana?
This question is the one that I get the most. When investing in general, it is very important to understand your finances, the terms of what you are investing in and know how much you can realistically afford. At Happy Living Punta Cana, we aim to give you as much of the details and information as we know so that you are an educated investor. If you are looking for an example or a real-life case, please check out the blog series that I posted about how I came about investing in Punta Cana. There, I explain step by step the actions I took to select the type of property, the neighborhood and the price range.
What are the expenses associated with purchasing a property in Punta Cana?
This answer greatly depends on what kind of property you are looking to purchase. Typically, there are general fees that most properties would have, for example:
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Financing Fees - generally as with any mortgage or investment property, if you are borrowing money from a bank, you will be paying a fee for that.
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Maintenance Fees - typically, any apartment building with amenities or with security, you will have to pay a maintenance fee for those services. If your apartment or house is located within a gated community, there is typically an additional charge for that.
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Taxes - typically, you are expected to pay property taxes for the location you are purchasing in. With the law benefit of CONFOTUR (which we cover in detail here), you are able to skip property taxes for the first 15 years of ownership. Please be sure to read through all the confotur details before making a decision!
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Other fees - as with everything, there could also be some unexpected expenses. We always recommend that you have a fund for a rainy day. There could be gains taxes, income taxes or even bank fees that you may need to consider when making your investment decisions. Please be sure to account for some of these as an emergency fund!
Why should I invest in Punta Cana?
The answer to this question is a bit more subjective than most. There could be 101 individual reasons to invest in Punta Cana - some may vary for different people. In this post I want to explain MY reasons for investing there, why I made that choice and how it's been. Feel free to follow my journey via my blog posts here.
As a summary here are the reasons for investment:
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Connection to the country and to the culture. For those of you who know me personally, you know my parents are from the Dominican Republic and you know I grew up there for a few years in my youth. I have always been tied to the country and absolutely love visiting and spending time there.
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Investment Opportunity and Growth. Tourism is booming in the Dominican Republic, which brings the opportunity for investment. More and more very high end luxury hotel brands (such as Nobu and W) are expanding their footprint and opening doors in Punta Cana. There are other investments happening such as theme parks, airport expansion and energy and power investments that are prepping the town for growth.
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More Affordable Price Point. I currently live in an expensive city within the United States, Miami, Florida. Real estate prices in Miami have gone up about 20% since the pandemic making it harder and harder to purchase a home for many of us. Punta Cana offers the opportunity of homes at a much more affordable price point.
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Multiple Use Case. Not only do I want to invest in Punta Cana for the financial benefits it provides, but I would also like to enjoy the investment I am making. I love vacationing in the Dominican Republic and having a property there will allow me the flexibility to be able to visit whenever I wish (for example on the days it is not rented to clients) and it is a very easy flight from Miami that I can get to in under 3 hours.