Real Estate in Punta Cana 2024: A Guide to Buying, Tax Benefits, and Investment Strategies

Purchasing Preconstruction Real Estate in Punta Cana: Essential Steps & Tax Insights
1. Offer & Reservation: Discover how to make an offer and reserve a property in Punta Cana, including details about the non-refundable reservation fee and the 24-hour payment deadline. 0:25
2. Sale Contract: Understand the legalities of your transaction with insights into the 'Promise of Sale' contract, covering everything from property specifics to developer obligations. 1:17
3. Construction Payments - Seller Financing: Learn about payment management during construction, including interest-free payments, online transaction ease, no credit check requirement, and the expectation to pay 50-80% of the property price upon completion. 2:52
4. Final Payment: Explore the final payment stage, including options like cash, private lending, or mortgages in the Dominican Republic, culminating in receiving your property keys. 4:18
Tax Confotur vs. Standard Taxation:
Tax Confotur: Uncover the benefits of the Tax Confotur incentive, offering tax exemptions for eligible property buyers, including relief from transfer and annual property taxes. 4:45
Standard Taxation: For properties up to $170,000 or those outside Tax Confotur, learn about mandatory tax declarations and payments, crucial for budgeting and legal compliance. 5:47
Case Study - $200,000 Property without Tax Confotur:
Tax Calculation: See how the tax is calculated on a $200,000 property, considering the $170,000 exemption threshold and applying the current 1% IPI rate, leading to an annual tax payment of $300. 5:50
This guide provides a comprehensive overview of the steps and tax considerations essential for anyone interested in buying real estate in Punta Cana.
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