CORALIA
COMING SOON
To Av. España, Santo Domingo East (Costa del Faro)
This project is currently undergoing an Environmental Impact Assessment to obtain the corresponding Environmental Authorization.
The Coralia project will feature a master plan encompassing a modern residential complex, an elegant urban hotel, and a cutting-edge convention center.
Coralia will boast an impressive residential complex with 3,318 homes, totaling over 460,600 m² of construction. Additionally, it will offer a modern 240-room urban hotel, approximately 23,100 m² in size, and an adjoining convention center exceeding 1,600 m².
At the top of its multifunctional tower, strategically located at the front of the plot, there will be, in addition to the hotel, over 12,700 m² designated for apart-hotel residences, totaling 132 units, and nearly 2,000 m² of office space.
Furthermore, the complex will integrate a dynamic commercial boulevard with duplex units spanning 4,600 m², and will feature ample parking with capacity for over 4,700 vehicles, representing approximately 208,000 m² of constructed space distributed across three basement levels.
This ambitious complex will be developed in 4 phases, during which seven (7) imposing fifty (50)-story apartment buildings will be constructed. The total surface area will be 83,312.32 m², with a construction area reaching 332,193.15 m².
RESIDENTIAL COMPLEX
URBAN HOTEL
APART- HOTEL RESIDENCES
Frequently Asked Questions
Dominicans Abroad
If you're a Dominican living overseas, you have the same rights as residents to purchase property. All you'll need is your Dominican ID card (cédula dominicana) or a valid passport.
You'll need your Dominican ID card or a valid passport, a copy of your tax return, bank statements, a pre-approval letter for credit (if applicable), and any other documents the bank or seller might require.
Absolutely! There are financing options available for Dominicans residing outside the country. Some banks in the Dominican Republic offer mortgages with specific requirements. You can also consider financing options through the real estate developer themselves. It's crucial to have a good credit history and financial documentation that demonstrates your ability to pay.
Yes, investing in real estate in the Dominican Republic is quite safe, as the real estate market is growing, especially in tourist areas. However, as with any investment, it's essential to do thorough research, work with trusted professionals, and ensure the property is legally valid.
It's important to consider the location, size, amenities, property condition, appreciation potential, and maintenance costs. Also, be sure to verify the legality of the property and seek advice from a real estate professional.
While it's ideal to visit the property and handle the procedures in person, there are instances where you can complete the purchase via a power of attorney. Even so, it's fundamental to have the help of a trusted lawyer.
When acquiring a property, you'll need to pay a transfer tax, which is 3% of the property's value, in addition to legal closing costs. If the property has a high value, you'll also be subject to the Real Estate Property Tax (IPI). It's very important to stay informed about current tax laws.
You can choose to hire a property management company that will handle everything from maintenance to rentals and other aspects of management. Another option is to grant a power of attorney to a trusted family member or friend to represent you in managing the property.
Foreigners
Absolutely! Foreigners have the same rights as Dominican citizens to acquire property in the country. There are no significant restrictions.
You'll need your valid passport. In some cases, additional information such as a tax identification number might also be required.
The process typically includes:
Finding a property and making an offer
Signing a promise of sale contract
Conducting legal due diligence
Signing the final purchase agreement before a public notary
Registering the property with the Title Registry Office
It's highly recommended to hire a lawyer with experience in real estate in the Dominican Republic to advise and represent you throughout the entire purchase process.
When acquiring a property, you might face some extra costs, such as:
Property transfer taxes, which are 3% of the total value
Lawyer and notary fees
Property registration fees
Property taxes (IPI)
Foreigners have the option to obtain mortgage financing through local and international banks. Conditions can vary depending on the bank and your financial situation.
The Real Estate Property Tax (IPI) is 1% on the property's value that exceeds a certain limit. Exemptions are available for properties of lower value and for those located in specific tourist areas.
The Dominican Republic has a modern and secure title registration system. It's crucial to ensure that the property you wish to buy has a clear title and is free of encumbrances.
Certainly! Many foreigners choose to rent out their properties to tourists or long-term residents. Additionally, there are property management companies that can facilitate the rental process and maintenance of your place.
Yes, investing in real estate in the Dominican Republic is quite safe, as the real estate market is growing, especially in tourist areas. However, as with any investment, it's essential to do thorough research, work with trusted professionals, and ensure the property is legally valid.
While it's ideal to visit the property and handle the procedures in person, there are occasions when you can make the purchase via a power of attorney. Even so, it's fundamental to have the help of a trusted lawyer.