Las Velas, Juan Dolio ..Please help!!

sush

New member
Mar 9, 2011
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looking for information about this new building i went to see the appartments and they are beautifull!!! just concerned about the fact that there are no permanet residents there and not sure if they really sold everything or is just a real state "sold out thing".. anyone has an idea about this building, is it a good investment in juan dolio area or we should stick to Marbella?? any advice is welcome!!

the building is located in front of Costa del Sol is rigth behing where they are constructing the new plaza.
 

yanandu

Banned
Jan 23, 2011
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At the moment it may be better to stick to established units.
Try Samana peninsula ; Bayihibe and environs ; Punta Cana.
Marbella I know; I had property near there; it's beautiful and with the rise in air fares may prove even more attractive to Europeans.
Look at resale units in juan dolio as well.
Best of luck!
Yanandu.
 

Matilda

RIP Lindsay
Sep 13, 2006
5,485
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All new apartment buildings are empty all the time. The units are owned either by dominicans from the capital who come say one weekend a month, or north americans or europeans who come for one of two weeks a year. There are the odd snowbirds who come for a few months and some are rented out for a few months at a time. Nothing strange that no one in this apartment building.

Matilda
 

whiskylee

New member
May 13, 2007
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We stayed for 1 month in Feb at Plaza Real and our appartment looked directly into Las Velas, And i was supprised to only ever see 1 appartment there with the lights on at night!

I had a look at 2 appartments in the Marbella complex to rent only and the whole set up looks ok, Great views etc. Only time will tell if buying an appartment there would be an investment, As Matilda comments the place is EMPTY in the week in Full season!

While i was there for the month i met a few people who had appartments in costa del sol who were trying to re sell so it may be an idea to be there in Juan Dolio and speak to as many owners as you can for info

Whiskylee
 

sush

New member
Mar 9, 2011
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thanks so much for your replies! we are definetly looking to stay in Juan dolio no other part of DR since we been in JD for quiet a bit; i just find it very strange cause we were there in the weekend and there was maybe 2 families there and they keep saying all is sold out i know jd and dont want to be stuck then in an appartment that will be very hard to re-sell -as it usually hapens here- and also the price they have there is close to marbella price!! which is ODD because Marbella has many more common areas (about 20k less)... the appartment in Las Velas is WAY better than marbella, will take it easy with the desicion and hope to keep getting more help around here!!!:cheeky:
 

whiskylee

New member
May 13, 2007
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Location

Location, Location, Location ! The first rule in Real Estate

Las Velas does NOT have a good location as you have described it is set way back from the road and when the plaza and other buildings go up it will be lost at the back, There is dark dirt road you have to travel down for access to the entrance which at best is risky in the current climate of crime global and in Juan Dolio.

You also have to look to the future up keep if there are no paying residents what will happen to essential maintance etc etc

As i said people who have purchased beach fronted appartments are keen to sell, Check the RD classifieds

Whiskylee
 

Fernandez

Bronze
Jan 4, 2002
572
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La Velas is a beautiful building. Like others in the area, it competes for occupants and, as it is off the main street has an advantage or disadvantage depending on your outlook. Beachfront properties tend to decay quicker- they also tend to fill up first.
I would continue to focus on Juan Dolio. The benefits are numerous: direct flights to anywhere, proximity to shoppping, hospitals, services. Cultural events in Santo Domingo 35 minutes away, as well as the malls and stores there.
Las Velas seems an interesting property. Consider the purchase as a long term one, with a need to hold for a good time until the area around it develops. I would not leverage into the unit, nor would I think about a rental there for quite some time.
Good luck. You should be able to negotiate a comfortable price these days.