Caribbean Real Estate in the Dominican Republic – Land and Construction

Land and Construction in the Dominican Republic

When considering buying a lot for building your own home or as an investment for the future, it is wise to consult a realtor who knows the area.  We can offer individual lots in the countryside through to  homesites in prestigious gated developments.  West Indies Real Estate has 25 years experience of real estate, construction methods, permits and building regulations, building costs per square foot  and much more.   We can, on your behalf, research and source both listed and unlisted lots and land suited to your requirements. This can be done whilst you are over here or, if necessary, on your behalf in the case of larger investment groups/hotels/consortiums.  The Dominican Republic is still almost certainly the best place in the Caribbean to build your own home or develop an investment project. 

Land and Construction here in the Dominican Republic

All land sold in the Dominican Republic is sold in square meters. A square meter is 10.76 square feet and there are approximately 4,000M2 per acre.
Most building lots usually start at around 800 – 1,000M2 and can rise to 10,000M2 for a single dwelling.  Normally beachfront lots have a premium attached, while you would expect to pay less for a sea view in the hills.
 

Land in the Dominican Republic

Land costs depend greatly on the location and size; it is almost impossible to offer a guideline, however the following examples may offer some form of guide:

1. Gated Development – For a reasonable sized lot in a good gated development you should look to budget around US$50,000 – $150 m2 dependent on location.

• Perla Marina (gated)
  • from US$65.00 – 75.00/M2
  • Minimum lot size 800 – 1,000M2
     
• El Choco (gated)
  • from US$14.00 – 25.00/M2
  • Minimum lot size 10,000M2
     

2. Lots in Non-Gated development – For a non-gated lot we would recommend a minimum of 2,000M2

• Lots (non-gated)
  • from US$20.00M2
  • There is reasonably no minimum or maximum size.

Construction in the Dominican Republic

It seems that as with the ‘building trade’ worldwide there are builders and there are builders. We have been in the real estate business since 1986 in the Dominican Republic and our local knowledge is second to none, therefore we are confident of being able to offer you a number of local building firms that can build your home to a high standard, within budget and on-time.

In the Dominican Republic homes are generally constructed of reinforced concrete block on a reinforced concrete slab with a tiled roof. This is generally accepted to withstand whatever nature has in store.

Prices will vary dependant on the design type and level of finishes. The following will offer guideline prices in US$ per square meter and US$ per square foot.  The prices below usually include a generator or an inverter, standby water tank, all white goods, finished bathrooms and kitchen and level furnishings.  It excludes the swimming pool and landscaping.  Most gated developments have a small monthly charge for security and public area lighting.   

• For a reasonable quality build in a simple style
  • US$600/M2 or US$56/ft2 would be reasonable;
     
• For more luxurious finishes and a more detailed design
  • US$900/M2 or US85/ft2 would be reasonable.
     
• Swimming pool costs vary based on design and size
  • from US$15,000 to US$20,000 inclusive of filters, pumps, etc.