ANTO DOMINGO IS THE oldest city in the Americans, with more than 500 years of history. It's also one of the region's most affordable places to live or retire well.

Along the narrow cobblestone streets of the Colonial Zone, old men take siestas on street benches, women gossip, shouting to one another from their doorways, and domino players attract boisterous crowds for their matches. On the other side of the city, developers are erecting condo buildings, shopping malls and restaurant plazas. And along the edge of it all stretches more than 1,000 miles of azure Caribbean coastline.

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