Your Retirement in the Dominican Republic | Noval Properties

The Dominican Republic ensures retirement is attainable

The Dominican Republic is not only one of the premier retirement destinations globally but also one of the most affordable.

Indeed, retiring in the Dominican Republic is so economical that USA Today included it among the top 10 attractive retirement spots abroad.

Reiterating this endorsement, InternationaLiving.com has ranked the Dominican Republic among its selection of the top five Caribbean islands to live on, that won't break the bank.

A key reason why the Dominican Republic is so affordable is the competitive pricing of its housing.

Leading developer Noval Properties has just unveiled details of a new, cost-effective seafront development in popular Punta Cana, ideal for those considering retirement in the coming years.

Retirees can secure one-bedroom apartments with pool views at the beachfront Ocean Bay complex, with prices starting at US$214,000.

Ocean Bay is located on the last plot next to the world-renowned Playa Bávaro and is also close to the airport, high-end shopping centers, top-tier restaurants, and private amenities including an infinity pool overlooking the sea, a spa, a locally-inspired gym, a kids' club, and a marketplace.

Barbara Warren, Director of Business Development at Nova Properties, states: “Ocean Bay boasts expansive floor plans and balconies that make the most of the captivating seaside lifestyle. Each residence is completed with flowing layouts, impeccable finishes and fixtures, and generous bedrooms.

“For the ultimate in retirement lifestyle, private rooftop penthouses feature jacuzzis, garden terraces, and summer kitchens. You can hear and feel the ocean, yet you're surrounded by clouds and blue sky only."

Throughout the development, high-quality European materials, appliances, and finishes are used. These include Stosa kitchens, Hansgrohe German taps, Duravit bathroom pieces, Italian porcelain tiles and coverings, quartz countertops, zoned central A/C, and include appliances: stove, extractor, and oven.

According to the CONFOTUR Law, all foreign owners are exempt from the transfer tax on property rights, which is 3% of the property's value; and the annual property tax (IPI) for 15 years, amounting to 1% of the property's cadastral value.

Properties can be reserved with a deposit of US$10,000. The estimated completion date is December 2023.

For those seeking properties now, consider Noval Properties' Reserva Real complex at Cocotal Golf & Country Club, with easy beach access. Two-bedroom high-end properties start at US$199,000.

Contact our sales executive at bwarren@novalproperties.com