| Do not be
afraid to purchase a property whereby you currently need a power backup
source. Luxury apartments that have a "planta full" carry
a premium with respect to rental costs, but that will change as the power
needs improve going forward.
Also, as the
electricity situation gets better, so called non-luxury properties or homes
in secondary middle class neighborhoods will increase in value because
there will be a level playing field will respect to amenities. There
are some beautiful apartments and homes that simply sell for a deep discount
because of the location (and therefore lack of attention by the electric
company).
It Costs
More in English
If you have
any high school Spanish skills rumbling around the back of your brain,
now is the time to use it. The fact of the matter is, you will not
find many people in the Dominican Republic that speak fluent English.
I do not care what your travel agent told you. Yes, of course the desk
clerks at some larger hotels speak English. But do not expect to have any
in depth and profound conversations in your native tongue. The fact
of the matter is, you will have a hard time at the airport, with taxi drivers,
with the corner "Colmado" or convenience store and with the general
population at large. This also includes many well-educated professionals
such as bankers, lawyers, the folks at the Telephone Company, etc, etc.
Now, with that
said, just be aware that you will pay more when you encounter someone in
business that is catering to the US tourist. This is especially true with
real estate people. Anyone marketing property in English knows that
most Americans do not know the local market and really have no easy way
of finding out. The rental costs of apartments and real estate will, in
some cases, be quoted in double to what a Dominican would pay for the same
thing. Just keep this tidbit of information in the back of your mind.
Some Dominicans think Americans are "loaded" and have no problem paying
higher prices than the locals. Remember - do your homework and brush
up on your Spanish. It will cost you, if you don't.
Home Sweet
Home
So you have
decided you like the Dominican Republic and want to get settled
in. Where do you look? Good question…….here's the answer.
That depends. It depends on if you want to live near the beach or
directly inside the city. It also depends if you like music or not.
What I mean by that is, Dominicans are very fun loving people. They
like their music. I like their music. But not every-night and not
until 4:00AM in the morning. You will find a very cozy 3-bedroom
house for rent in some working class or middle class neighborhoods that
rent for $ 185 per month at current exchange rates. No, that is not
a typo, I did say $ 185 per month. Very clean, very nice, with
a front porch.
The catch is, your chances are pretty good that your neighbor is aspiring
to become a Disc-Jockey and would like the whole surrounding area to be
aware of his music selection skills. In all honesty, you could get
that in any middle class neighborhood in the US. The difference is, in
the US, the other neighbors will probably also complain about the noise
and the police will come to address the problem. Late Friday-Night
block parties are the norm is some districts. If you like that, then you
already have your real estate focus narrowed down. If you want conservative
neighbors and a quiet atmosphere, that leaves you with another set of places
to focus your search.
There really
is a big spread in prices for both rentals and real estate sales.
Like real estate everywhere, it is a function of location and amenities.
There are decent places to live for $ 200 per month with regards to rental
rates. There are very nice homes for sale in good neighborhoods for
less than $ 40,000. It really all depends on what you want and what
you are comfortable with. Like everywhere else, bargain hard and
pay cash if you can. Non residents cannot get local bank financing.
Here is a selected
and recent list of real classified ads for apartment rentals and properties
for sale in and around Santo Domingo (all translated from Spanish).
Prices are Monthly for rentals.
This certainly
is not everything and is a cross section of prices in what I would call
acceptable areas.
-
Apartment Rental,
Furnished, 2BR, 1Bath, Central Air, Parking, Telephone, light. $
650 US
-
Apartment Rental,
Unfurnished, 3BR, 2 ½ Bath, Generator for Bldg, Quiet, secure. RD
10,000 Pesos (about $ 625 US)
-
Apartment Rental,
Unfurnished, 2BR, 2 Bath, Patio in Ceramic, Intercom, Planta.
RD 8,000 Pesos (about $ 500 US)
-
Apartment Rental,
Unfurnished, 2BR, 1 Bath, Doorman, Full 24 hr Electricity
$ 385 US
-
House for Sale,
3,000 sq. meters near the beach , 3BR, 2 ½ bath, 2 terraces,
Fruit Trees, floors in Marbol , 2 dining rms Asking $ 100,000
US
-
House for Sale,
5 BR, 3 Bath, Patio, Cistern, covered parking RD 1,250,000 Pesos (about
$ 78,000 US)
-
House for Sale,
3 BR, 2 ½ bath Terrace, good area in The city, swimming Pool.
RD 1,400,000 Pesos (about $ 87,500 US)
-
Apartment Rental,
Unfurnished, 3BR Brand New , 2nd floor apartment. RD 2,500
Pesos (about $ 160 US)
-
House Rental,
Unfurnished, 3BR, 2 bath, Swimming Pool, two Water tanks,
A/C. RD 8,000 Pesos (about $ 500 US)
-
Penthouse Apt
for Sale 2BR, 2 bath Private Parking RD 450,000 Pesos (about
$ 28,200 US)
-
Apartment for
Sale, 3 BR, 2 ½ Bath Excellent Area, Bldg has Full Generator
RD 1,580,000 Pesos (about $ 100,000 US)
-
Apartment Building
for Sale, 6 Apartments in building in the Zona Oriental. RD
3,200,000 Pesos (about $ 200,000 US)
-
Room for Rent,
Furnished Room, Private bath, independent entrance RD 2,000
Pesos monthly (about $ 125 US)
-
House Rentals
Unfurnished, 3BR, Various Areas, Realtor has Various Apartments From
RD 2,000 -
-
RD 3,000 &
RD 4000 Pesos ( $ 150 US & up )
I Want
My MTV
One of the
most common questions I often get concerns lifestyle and living expectations.
I get the impression that most Americans think the Dominican
Republic is still in the dark ages. While there are some things that
are not as common or plentiful as the US, one can easily find Heinz ketchup,
Post cereals, Heathy Choice frozen meals, General Electric appliances,
Liz Calirborne clothing, Levis jeans, Tommy Hilfiger, Burger King, Pizza
Hut, and of course……MTV. Keep in mind that while most American and
European products are easily available, they certainly will cost more due
to import taxes imposed by the government. If one considers substituting
local products, which are of good quality, your costs might actually be
less expensive than what you would pay in North America.
Telephone
and Internet access is also available and quite good. 56K Access
is currently available as is Digital cellular telephone services.
Cellular telephones due tend to be quite expensive, even though the prices
are coming down. I would suggest the purchase of a cell phone in
North America if you want a cell phone. Even if you think you will
only be visiting for a short while, I can suggest the various pre-paid
cell phone calling card plans that both telephone companies offer. |