Can a tourist purchase real estate? What are the requirements?
Tourists must fulfill the same requirements as Dominicans and legal foreign residents in the DR. The government, though, requires that the Title Registry Offices keep a record, for statistical purposes, of all purchases made by foreigners. Is buying real estate in the DR risky? The risk is small if the persons involved in the transaction (developer and real estate attorney) are reputable. The major risk is that you may be issued a title that does not reflect the liens and charges that may encumber the property, or that it may not reflect the real owner of the property. This can be avoided if you secure a reputable firm that will ensure that a title search gets done certifying the actual status of the property. When purchasing property in the DR you should also be aware of the zoning, or lack of zoning, and who your neighbors are or could be in the future. Like with any property purchase decision, try to envision what factors that could lead your property to gain or lose value in years
