Why do people move to the Dominican Republic
We have been selling real estate in the Dominican Republic for several years now. Just a couple of years ago, most of our clients who purchased property on the eastern coast of the Dominican Republic were buying primarily for investment purposes.
Over the past five years, major American and European developers have entered the real estate market on the Dominican Republics east coast, and today high-end condominium communities and private villa developments are being built here. At the same time, prices remain accessible, while short-term rentals generate very attractive passive income. This is an investment that does not require your personal time, because the rental process, guest reception, cleaning, and maintenance are handled by the management companies of the complexes. Net income from short-term rentals here is around 10–12% per year of the property value, plus, of course, property appreciation, which in recent years has remained steady at roughly 5% to 12% annually, depending on the area. Where else can you find that? In Toronto, for example, net rental income is around 3% per year.
It is easy to understand why the Dominican Republic has become such an attractive opportunity for investors. But recently I have noticed a growing trend: more and more people are no longer buying property here only to visit a few times a year for vacation and earn short-term rental income the rest of the time. They are also staying here for extended periods. And it is not only retirees spending six or seven months a year here. Young families are increasingly choosing to stay for long stretches as well, especially when one or both spouses are able to work remotely.
Today’s Dominican Republic offers a completely different level of comfort, even compared with what existed here just five years ago. And as the country changes, more and more people are choosing it as a place to live.
Why are Canadians and Americans choosing the Dominican Republic today, spending more time here, and in some cases moving here permanently? Let me share some truly striking statistics. Recent studies have shown that 34% of Americans and as many as 42% of Canadians would like to leave their country and move somewhere more comfortable to live. This is the reality of today. Similar surveys have been conducted since 1950, and until 2020, on average, only about 10% of people in both the United States and Canada wanted to leave their country. Today, that figure is 34% in the U.S. and 42% in Canada. Isn’t that shocking?
What are the reasons behind this? Among Canadians, the most commonly mentioned concerns are the high cost of living, wages that are no longer sufficient for a normal standard of life, healthcare, and secondary education. Today, Canada is also facing a dramatic rise in crime. Many Canadians no longer feel comfortable, and unfortunately, it must be said that, at least for now, life in Canada seems to be getting worse year after year.
Let us look at why so many people are choosing the Dominican Republic.
1. The weather. The climate here is magnificent: 340 sunny days a year and an average annual air temperature of 28 degrees Celsius. At the same time, the difference between winter and summer temperatures is only about two degrees. The water temperature stays around 28 degrees year-round, so when it comes to weather, this is simply paradise.
2. Comfort of living. In recent years, with major internationally recognized developers entering the Dominican market, modern and comfortable condominium complexes and private villa communities have been built here. These communities offer a wide range of amenities, and life here is exceptionally comfortable. I would say that the complexes being built here today, in terms of construction quality, materials, and amenities for residents, are comparable perhaps only to Dubai, which is rightly considered the world’s number one destination for quality and comfort in residential living.
3. Safety. In today’s Dominican Republic, at least on the eastern coast, crime is practically absent. Serious crimes are extremely rare here. Compared with what is happening in the United States and Canada, where crime has risen dramatically in recent years, one can say that the Dominican Republic is doing extremely well.
4. Healthcare. This is a separate and very important subject for everyone, but especially for retirees who spend a lot of time here. Today, healthcare in the Dominican Republic has reached a high level. Hospitals have been built here to international standards. You can see a specialist within two or three days instead of waiting for months, as often happens in Canada. The level of service here is far superior.
5. Secondary education — the Dominican Republic has both free public schools and many private schools. I will not judge the public schools, simply because I do not have direct examples. The children of all my Dominican acquaintances, as well as the children of our company’s clients who have purchased property here through us, attend private schools. And the level of education in these private schools is very high. There are accredited American and Canadian schools here whose graduates easily enter prestigious Canadian and American universities. Instruction in these schools is in English, but children also learn Spanish very quickly. The teaching staff consists mostly of Americans and Canadians. These are not tiny private schools with 20 or 30 students, but full-scale schools with large student bodies. The infrastructure deserves special mention. I recently visited one such school in Cap Cana and was pleasantly surprised: swimming pools, tennis courts, numerous sports facilities, its own concert hall, and spacious classrooms equipped with the latest technology. And the school grounds are a masterpiece in themselves, with fountains, public areas, and beautiful landscape design. Schools like this simply do not exist in Canada.
6. Food — although Dominican supermarkets carry many of the products we are used to, there are still important differences. First of all, there is fresh seafood, caught the same day. Secondly, the quality of meat here is entirely different. Animals graze freely on the many Dominican pastures, which are rich in natural feed, so various food additives and genetically modified feed are practically not used here. This undoubtedly affects both the taste and the nutritional quality of the meat and the local dairy products. And, of course, there is an abundance of exotic fruits and freshly squeezed juices. Overall, it is fair to say that the food here is much tastier and healthier than what we have become used to in Canada.
7. The Dominican Republic offers countless opportunities for active recreation. Today, the area around Punta Cana is one of the world’s top choices for golfers. There are about 50 golf courses here at different levels, ranging from affordable courses where a round may cost around $50 to ultra-elite courses where the price of a game can reach $700. For active recreation, everything is available here: tennis, kitesurfing, surfing, sailing, diving, and much more. If you enjoy an active lifestyle, you certainly will not be bored here.
8. Entertainment. The Dominican Republic is a country of celebration. There are always events taking place here: festivals, concerts, shows, and much more. Life here is vibrant, yet people remain calm and relaxed. They truly enjoy life instead of being trapped in a constant marathon of earning money, which, unfortunately, is what often happens in Canada.
9. Unique nature. Those who judge the Dominican Republic only by resort vacations do not really know the country at all. In reality, its nature is incredibly diverse: endless sandy beaches with turquoise water and the calm Caribbean Sea, places with big waves ideal for surfing, jungles, high mountains where it is quite cool, and nighttime temperatures can drop to 5–7 degrees Celsius — sometimes it even snows. The Dominican Republic is a large country, and although you can drive across it from south to north in about five hours and from east to west in roughly eight, different parts of the country have very different climates and landscapes. To truly discover the Dominican Republic, you need time.
10. Prices. And, of course, it is no small matter that all this paradise is available for relatively reasonable money. Naturally, everyone has different needs, but the Dominican Republic is attractive because both people with a modest budget and those accustomed to a luxury lifestyle can live comfortably here.
I often visit the Dominican Republic both for vacation and for work. From my most recent trip, I brought back an entire series of video reports in which I speak with local Russian-speaking residents who have lived in the Dominican Republic for many years, built their lives here, and established businesses. They talk openly about all the advantages and disadvantages of living in the Dominican Republic. I think many people will find these video reports interesting. Visit my channel — it is easy to find on YouTube by searching for BuyCaribbeanHome. Subscribe, and you will receive notifications when new video reports are released. And in the near future, there will be many interesting videos coming out.
And for those who are thinking about buying real estate in the Dominican Republic, I recommend visiting our real estate portal.