Being one of the largest islands in the Caribbean region, the Dominican Republic has been a popular draw for tourists and retirees for a number of years now. This is definitely a country where you can still enjoy a high standard of living but only fork-out a fraction of the price you would have to in many other Western nations. But when it comes to the Dominican Republic, the attraction to retire here does not solely depend upon financial considerations; take your time to browse through this article to find out the 5 biggest reasons why settling down for your retirement in this part of the world could make for a great idea.
Immense Natural Beauty
The country of the Dominican Republic occupies the lion’s share of the island of Hispaniola (with Haiti to the west) and this is a part of the Caribbean that is synonymous with immense natural beauty. In fact, no less than 30% of the Dominican Republic has been designated as natural parklands. Also, you simply cannot afford to overlook the fact that this nation has some of the most spectacular and honey-hued sandy beaches in the entire Caribbean region.
Buying Property in Dominican Republic Made Easy
If you’re a little anxious about purchasing a property in a foreign country for your retirement, you needn’t be anything like as worried in the Dominican Republic. This is because the Government of the country have conceived a specific program that is aimed at enticing people to settle in the Dominican Republic. Basically, this means there are reductions or even complete cuts in tax when it comes to considerations such as real estate fees, motor vehicle taxes and it is even tax-free for you to transport your possessions into Dom. Rep. Add to this the fact that both property prices and rental rates are extremely competitive in the country and you’re starting to run out of reasons for not retiring to the country.
To give you an idea of property rental prices in the Dominican Republic: to rent a one-bedroom property outside of the main cities you are looking at 8,000 Pesos per month (which works out at €150.00 or £125.00). A three-bedroom property is also a real bargain at 15,000 Pesos (€282.00 or £235.00).
The Best Places to Retire to in the Dominican Republic
To be honest with you, there is a choice of places to retire to in the Dominican Republic—ideal locations if you love to be surrounded by mountainous natural beauty, as well as great city and beach resort destinations. Inland, the areas around Constanza and Jarabacoa are ideal if you would prefer a micro-climate that keeps the temperatures lower than around the lower lands. Also, these areas are renowned for being such beautiful parts of the Caribbean.
If city life is more your thing, the capital Santo Domingo has a population of a couple of million inhabitants and offers the retiree absolutely everything they desire in later life. And for people looking for the very best beach resorts in Dominican Republic, you should seriously consider the resorts around Samana, Bavaro, Punta Cana and Puerto Plata.
Connections to the Dominican Republic
With two main busy airports in the Dominican Republic, you would be very hard pushed to find another Caribbean destination that is any easier to get to. These airports welcome flights from all over the world: including fantastic connections with the US Eastern Seaboard and Europe. The French have especially fallen in love with the Dominican Republic and French is spoken very widely in and around the resort of Samana especially.
The Cost of Living in the Dominican Republic
Of course, on my travels to the Dominican Republic, I did tend to find that the cost of living can vary across the country. The most popular tourist resorts (listed above) do attract a premium; however, other less-touristy parts of the country can offer excellent value for money. Nevertheless, even if you do choose to settle in the lovely beach resorts, you should still tend to find your average cost of living to be lower than in the US and Europe.
Groceries do not tend to be as cheap as some people may think, though, and for a litre of milk you are looking at paying around 50 Pesos (which is 78p or €0.94). A 500g loaf of bread is 58 Pesos (or 90p or €1.09). This could definitely be cheaper but it is possible to get food prices down by making sure you purchase local produce and not imported goods. Other aspects of everyday life are cheaper and this includes the average cost of a one way ticket on public transport which works out at just 25 Pesos (39p or €0.47).