Currency & Financing

Currency and Financing: How Foreign Buyers Pay for Dominican Property

The good news for a North American buyer is that the currency question is largely solved before you start: most Dominican new-build is priced in US dollars. The financing question is more nuanced, and how you answer it, cash, a developer plan, or a local mortgage, shapes your whole purchase. Here's how each option works.

Currency: why dollar pricing works in your favour

Most new developments are priced in US dollars, and the Dominican peso has held a managed float against the dollar for over a decade. For a US buyer, that removes exchange-rate risk entirely: the price you're quoted is the currency you hold. For a Canadian buyer, it means a single CAD/USD conversion to plan around rather than exposure to a volatile local currency.

Dollar pricing also keeps rental income and resale values in a currency you understand, which matters if you're treating the property as an investment. It's one of the quieter reasons the Dominican market appeals to North American capital.

Option one: cash purchase

Many foreign buyers, particularly at the second-home and investment end, buy in cash. It's the simplest route: no lending application, no local credit assessment, and a stronger negotiating position with developers. The money still needs to move through proper banking channels with documentation (see below), but the process is clean.

Option two: developer payment plans (the off-plan route)

This is the option a lot of buyers don't realise exists. On off-plan and under-construction stock, developers frequently offer staged payment plans: a reservation deposit, instalments spread across the construction period, and the balance on completion.

That structure lets you fund the purchase progressively out of income or assets rather than financing the full sum up front, and it's one of the main advantages of buying new-build off-plan. Our buying off-plan guide explains how the payment schedule and completion process work.

Option three: a local mortgage as a foreign buyer

Financing is available to foreign buyers through Dominican banks, but expect terms that differ from what you're used to at home. Deposits tend to be larger, interest rates higher, and the approval process more document-heavy, with banks assessing overseas income carefully. For those reasons, local mortgages are less commonly used by foreign buyers than cash or developer plans, but they're a genuine option worth exploring for the right buyer. Treat any rate or loan-to-value figure you see as illustrative until a lender confirms it for your circumstances.

Not sure which route fits your situation? Tell us your budget and how you'd prefer to fund the purchase, and we'll factor it into the developments we shortlist. Start the Property Finder.

Moving money safely

However you pay, funds should move through documented bank transfers, not informal channels. Proper banking documentation matters for three reasons: it satisfies anti-money-laundering requirements, it establishes a clean record of the purchase, and it simplifies things when you eventually sell or repatriate proceeds. Your attorney will guide the mechanics as part of the due diligence and closing process.

Frequently Asked QuestionsCan foreigners get a mortgage in the Dominican Republic?

Yes, Dominican banks do lend to foreign buyers, but the terms typically differ from North American mortgages: larger deposits, higher interest rates, and a more document-intensive approval process that assesses overseas income closely. Because of that, many foreign buyers use cash or a developer payment plan instead. A local mortgage is still a viable route for the right buyer, but treat advertised rates and loan-to-value figures as illustrative until a lender confirms them for your specific situation.

What currency is Dominican Republic property priced in?

Most new-build developments are priced in US dollars, and the Dominican peso has held a managed float against the dollar for over a decade. For US buyers this removes exchange-rate risk entirely. For Canadian buyers it means a single CAD/USD conversion to plan around rather than exposure to the local currency. Dollar pricing also keeps rental income and resale values in a stable, familiar currency, which is part of the market's appeal to North American buyers.

How do developer payment plans work?

On off-plan and under-construction developments, developers commonly offer staged payment plans: a reservation deposit to secure the unit, instalments spread through the construction period, and the balance due on completion. This lets you fund the purchase progressively rather than paying the full amount up front, and title transfers when the property completes. Terms vary by developer and project, so confirm the exact schedule before committing. It's one of the main financial advantages of buying new-build off-plan.

How do I transfer money to buy property in the Dominican Republic?

Funds should move through documented bank transfers rather than cash or informal channels. Proper banking records satisfy anti-money-laundering requirements, establish a clean history of the purchase, and make it far easier to sell or repatriate proceeds later. Your attorney handles the mechanics as part of the closing process, and keeping clear documentation of the source and transfer of funds is an important part of protecting your ownership.

The takeaway

Currency is the easy part: dollar pricing means US buyers carry no exchange risk and Canadians have one clean conversion to plan. Financing comes down to three routes, cash, a developer payment plan, or a local mortgage, and for most foreign buyers a developer plan on off-plan stock offers the best balance of flexibility and cost. Whichever you choose, move money through proper channels.

Tell us how you'd like to fund your purchase and we'll match you to developments and payment structures that fit. Start the Property Finder, or speak to a Propuno adviser.

This guide is general information, not financial advice. Lending terms, rates and currency conditions change and vary by buyer; confirm the specifics with a lender and your attorney.