About Dominican Republic
Dominican Republic, republic (1995 est. pop. 7,511,000), 18,700 sq mi (48,442 sq km), West Indies, on the eastern two thirds of the island of Hispaniola . The capital and largest city is Santo Domingo.
Land and People
The land ranges from mountainous to gently rolling, with fertile river valleys. It has a moderate subtropical climate, ample rainfall, and fertile soils. Periodic hurricanes can cause extensive damage. The country is administratively divided into 32 provinces and one district. The majority of the population is of mixed African and European descent. Spanish is the official language and Roman Catholicism the state religion. Population growth is a continuing problem in the Dominican Republic, and emigration to the United States, particularly to New York City, has been high.
Economy
The country is largely agricultural; sugarcane is the chief crop, and sugar is the chief product and export. However, sugar production has sharply declined in recent years. Other major crops are coffee, cocoa, bananas, tobacco, and rice. There are deposits of rock salt, bauxite, copper, platinum, zinc, gold, silver, and nickel; mining has gained importance in recent years. The growth of the nation's free-market zones has encouraged the growth of various light industries, particularly the manufacture of clothing. Since the late 1960s tourism has become increasingly important to the economy, and several international resort areas have been built. The United States and Great Britain are the main trading partners.
Government
The country is governed under the 1966 constitution. The president, senate, and chamber of deputies are all directly elected for four-year terms. The major parties are the conservative Social Christian Reformist party, organized by Joaquín Balaguer the rival and social-democratic Dominican Revolutionary party, organized by Juan Bosch (both men served as president of the country), and the centrist Dominican Liberation party.
Build, Buy or Rent - the Dominican Republic still remains an ideal destination for real estate bargains, as well as an excellent retirement or relocation destination.
In this article, we will discuss the current real estate market (how to find the bargains plus local constructions costs to build your own home), but also want to highlight in general why the Dominican Republic is so attractive overall for those seeking to live in the Caribbean.
First and foremost, while finding reasonably priced real estate is of importance to many, there are other considerations equally important as well. One such consideration is what I would call "Island Fever". That is to say, many believe the stereotype of a typical Caribbean Island as a postage stamp sized location under the sun, and this is often the case with many islands. Aruba, Antigua, Tortola and others, (just to name a few) are indeed very nice islands, but chances are you can drive such an island completely and still be back in time for lunch. While this may be quaint and appealing for some, a good number of people often eventually feel confined or claustrophobic as a result. The Dominican Republic in contrast is located on the second largest island in the Caribbean, offering both high mountains with pine trees and ferns, plus beautiful white sand beaches all at the same time. Many have compared the land mass of size as being about or slightly larger than the US State of Connecticut. As an illustrative example, the drive from the modern metropolitan capital city of Santo Domingo (population 3.5 Million) to the North Coast town of Puerto Plata takes about 4 hours. The drive from Puerto Plata eastward to the Samana Peninsula takes an additional 4 hours. If you want to drive from Santo Domingo to the Punta Cana or Playa Bavaro area, figure on about 4 hours as well. So, if you want to see the country, pack either an overnight bag or lunch, depending how far you want to go.
This of course leads us to the discussion of diversity, quality of life and other issues. If you want to live in the Caribbean, but still want the benefits of a city, then Santo Domingo or the second largest city of Santiago (population 1 Million) would be your choice. What's in Santo Domingo? Movie theaters showing recent releases one week after they open in New York or elsewhere (in English with Spanish subtitles), plus a variety of international restaurants as well (not to mention a variety of clubs and nightlife). For other activities and shopping, there are bowling alleys, art museums, orchestra and ballet, modern shopping malls, supermarkets stocked with a number of American and European brands, PriceMart, and K-Mart (coming soon). Many major universities also, just in case you want to keep busy by studying for a medical degree at a cost of roughly US$ 1,000 per semester. Of course if your idea is to get away from it all, then you have the option of the highest mountain range in the Caribbean or miles of uninhabited beaches. If your ideal place involves having the best of both worlds, well - you can. Couple this with high interest tax-free US Dollar banking or other investments (current interest rates are up to 11% for US Dollar deposits, interest paid monthly) and online internet banking access, the appeal for many is not too hard to understand. In addition, three major international airports offer direct flights to New York, Miami, Philadelphia, Panama, Venezuela, Aruba, Spain, Holland, Germany, Martinique, and France.
