News from Punta Cana. We're back from our short shopping trip to P.C., which was very successful due to the invaluable help and guidance of my EXCELLENT r.e. agent. (don't know if I'm allowed to mention her name here on the forum, but will gladly share it privately)
The higher price points 200k US and up are still moving slowly, but the very hot segment of the market are the condos in the 150k US range. Over the period of a few weeks I was watching the listings, I saw the available units in the better projects I was interested in, dwindle to a few here and there, obviously the less desirable selections in any given complex. I elected to purchase in CorteSea, still under construction, and found an excellent 2 br 2 ba penthouse with 1237 sq. ft. My real estate agent was able to secure a modest but meaningful discount off the asking price, in addition to a couple of modifications and additions to the condo. The developer was excellent to work with, and was fair and open minded to the conditions of sale.
If you're looking for a "fire sale", it's not going to happen. When the economic downturn happened, many of the projects stalled or failed, and the inventory from the better, more solvent developers has been shrinking. For example, in Corte Sea, of the 24 planned units, 10 are already pre sold. Oppsss... make that 11 now, LOL. There are several excellent bargains available in the re-sale market, and they were very tempting, but we decided to go with new construction.
The price for a vacation condo near the beach in Punta Cana, D.R. is still a bargain compared to any other place I looked, including my favorite little sea-side town in New Jersey, USA. A similar property there would cost more than double what I paid, with a usable summer season of only 10 or 12 weeks. Do the math, the choice is a no-brainer.
Anyone interested in property in the Punta Cana area, especially El Cortecito, is welcomed to message me for what ever small help I can offer.
