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Cost of Living Comparisons
The Reidco Group has extensive experience in understanding the cost advantages of living in the Dominican Republic. You can live very comfortably for less than $2,000 per month. Below is additional information on expenses and direct comparisons between key Canadian cities. Keep in mind that Santo Domingo is the most expensive city in the Dominican Republic, so if you are looking at relocating to the North Coast you can expect much lower costs.
The cost of living in the Dominican Republic will be significantly cheaper than living in the UK, Europe or North America, given the fact that it is a third world country.
Housing costs will depend on where you want to live, with the tourist resorts and the major cities costing more than the smaller Dominican towns. Within the tourist areas, the closer to the ocean you are, will be slightly more expensive than living more inland. Rents can vary for around US$250 a month for a one bedroom apartment, all the way up to US$2,500 for a luxury house in a gated community. On the other hand, real estate is inexpensive with one bedroom condos near the ocean going for as low as US$50,000. An average three bedroom home can cost as low as US$125,000. Construction costs are very reasonable also coming in at an average of US$55 per square foot for a fully finished home.
The cost of food can vary from very cheap, if you eat local food, to very expensive if you eat imported food. In the countryside there are no large supermarkets so you really do not have a choice, whereas the major cities and the tourist areas have large supermarkets stocking imported products.
Internet, cell phone and television are all reasonably priced as there are many companies operating in the market place which tends to keep costs down.
There is no public health system, at least not one worth using, and hence it is vital to have health insurance which is around US$700 a year for a family of four. Having said that, medical and dental procedures, whilst private, are significantly cheaper than the US, Canada or UK, and the Dominican Republic is a favoured destination for medical tourism, especially plastic surgery and dental implants. Medicines are also fairly cheap. As most can be purchased over the counter, you do not need a prescription which also keeps the costs down.
Cost of Living Comparisons Reports (Click to View)
