The Cost of Living in Dominican Republic
Cost of living can vary, depending on the person(s). Dominican Republic accommodates for every budget.
When answering the question in regard to the cost of living in Dominican Republic, so many factors come into play, where you can't give an overall cost of living answer that fits for everyone's choices. To sum it up short, the cost of living in Dominican Republic is lower than North America and most European countries. I know when most people hear “lower cost of living”, they hear it as “low cost of living” which can be misleading, because the two are not the same. Low cost is subjective, we must take in consideration that the Dominican Republic is not considered a poor country, but like everywhere else in the world there is poverty here also. Lower cost is in comparison to other parts of the world with a higher cost of living. Dominican Republic has a thriving economy, the fastest growing economy in Latin America since 2010, a strong upper-middle income developing country. Subsequently the average income earners in North America, would be living upper end lifestyle if they choose in Dominican Republic due to the lower cost of living. Dominican Republic doesn't lack the high end living either, it's just not really talked about, but believe me they're something for even the wealthiest of people, they probably just pay less for the majority of it.
In Dominican Republic there are high end prices for those with expensive taste. There's something for the wealthy folks as-well, a luxurious lifestyle awaits. It must be what keeps Micheal Jordan, a frequent visitor to Dominican Republic, who came just a few weeks ago. Like the hall of fame basketball player and many other A-list celebrities are lured to spend time in Casa de Campo dabbling in the finest of luxury lifestyle. You can be sure that prices for a night on the town are going to cost far more than anywhere else in the country, and you can imagine the experience of the finest things. In Casa de Campo renting a villa on the low end can go for $550 to $800 (usd) per night, while the upper end villas can go for $1500 to $17000 (usd) and more. Or if it's of any interest, a beach front property, 3.27 acres of land goes for a price tag of $25 million (usd), 0.4 acres for $5 million (usd).
Although there are lower prices and a cost of living that fits more for the masses, I thought it would be important to point out that Dominican Republic is not just “cheap” prices and that foreigners are only living here because it’s a bargain. You do have high-end apartments for rent in Santo Domingo from $800 -$1200 a month (usd). Also there are other nice spacious apartments renting 2 - 3 bedrooms all across the country for $300 - $500 (usd). If you're looking to pay the same prices for everything all across the board, that's unlikely, for example the prices in the capital city Santo Domingo are higher then they are in the city of Bani. Rent costs for particular areas vary and the more exclusive the neighborhood, the higher the cost. Ideally most foreigners decide to live in the more upper scale areas and that drives up the costs, but not substantially, unlike some other countries I’ll remain nameless lol. Yes, the prices are a fraction of what one would be paying in North America. In almost all aspect prices are lower. Shipping stuff can be tricky though, and that’s because of the import delivery charges. Foreigners can get the same luxuries as in North America, but for the fraction of the price. If what I’m looking for is not here, it can be ordered in, but almost all of the favorite US brands can be found here. Me personally, I found some local Dominican brands of good quality that I preferred and then stuck to them.
The USD is stronger than the Dominican peso, and if you're earning the dollar, or one of the stronger currencies (CDN, EURO, POUNDS) then you will live well in Dominican Republic. The dollar goes along way in DR, and opens up the possibility of a lower cost of living. With the strength of the dollar, even those on a budget can come out of their shell and enjoy almost everything without worrying so much about the cost. Someone can earn $15000 to $20000 (usd) yearly and live more than comfortable in Dominican Republic. A lot of inquiring minds are misinformed of how much money they need to earn in order to live a wonderful life here. In most of the affluent neighborhoods a 2 - 3-bedroom apartment can sell for 80k - 200k, and of course more. A good quality internet service provider's price ranges from the lowest price to highest is 1,195 5Mbps / 2Mbps to 5,195 300Mbps / 75Mbps, that's from $20 - $87(usd). Now when it comes to electric bills, that would depend on how much the person(s) use. I’ve heard of some people leaving on the AC all day and they have pretty high electric bills. Then you have others who are more cost efficient and pay a much lower electric bill. One thing is for sure, the grocery bills will be much lower here than North America. In Dominican Republic, it’s not so uncommon for people to have a maid. For maid service a couple days a week for a month, can cost on average $200 (usd). Need a drive somewhere? the uber or taxi services are fairly priced. In Dominican Republic, there’s not really a tipping culture, in fact most businesses don't require tips, but they will accept a tip if you leave one. Delivery food has a delivery charge, which may vary depending on the distance of the drive, and usually between 50 - 200 pesos ($0.84 cents - $3 usd). Unless its already priced in, the mom and pop restaurants don't charge tax (Itbis).
I think what pleasures foreigners the most when visiting or living in Dominican Republic, is that they get so much more for their dollar. A tourist can feel like the rich and famous, while the Expat feels as if they stepped up into a higher tax bracket lol. For example today I went out to pick up a few things, and the list included: chinola (passion fruit) 12 for $3.37, 1 litre milk $1.35, whole chicken from the butcher $3.37 - $5.05, 15 Large eggs $1.52, 5 large pieces of fresh made bread rolls for 0.50 and most necessary a 5 gallon of drinking water for 0.84 cents. Now all of this for under $13 (usd), it becomes easy to get use too. So, as you can see it’s not possible to put a cost of living that fits the same bill for everyone, it all depends on the individual(s) and how they'll choose to live. The cost of living in Dominican Republic is less than what is in North America, which gives an Expat more money to explore and live the lifestyle of their dreams. Or live without the constant thought of money on the mind.
Wow!! This is good information. I never considered the Dominican as a relocation spot but the more I read your newsletter the more it intrigued I am. And you always share good images, too. Thank you!