Capital: Santo Domingo
Language(s): Spanish (Official)
Total Area: 48,730 km2
GDP (PPP): 2012 estimate
Total: $98.747 billion
Per capita: $9,646
Currency: Dominican peso (DOP)
The Dominican Republic in the West Indies occupies the eastern two-thirds of the island of Hispaniola, which it shares with Haiti. Its area equals that of Vermont and New Hampshire combined. Duarte Peak, at 10,417 ft (3,175 m), is the highest point in the West Indies.
While it felt the effects of the global economic crisis, the Dominican Republic is coming back with a growing GDP and a recovering property market. It continues to be the Caribbean region's largest economy and biggest tourist destination.
The number of foreign investors swarming to the Dominican Republic is a sign of progress. There are several new projects in the high-end segment of its real estate market, the most high-profile of which is the Cap Cana development. Built on more than 30,000 acres of land, it is the country's largest resort and residential complex, with several hotels, golf courses, and luxury villas, lodges and apartments.
There are no restrictions on foreigners' buying or renting property in the Dominican Republic. However, the country being a buy-to-let destination, landlords find it difficult to evict tenants as long as they pay rent (these rental laws do not apply within specific tourist areas). Yields are very low, according to Global Property Guide research.