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Thread: Historic Real Estate Prices

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    Default Historic Real Estate Prices

    Does anyone know a good resource where you can find historic prices of real estate in the Dominican Republic and even other countries?

    Globalpropertyguide has a few charts but nothing too extensive. It would be interesting to see how real estate has trended with DR compared to other countries.

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    Quote Originally Posted by StringTheory View Post
    Does anyone know a good resource where you can find historic prices of real estate in the Dominican Republic and even other countries?

    Globalpropertyguide has a few charts but nothing too extensive. It would be interesting to see how real estate has trended with DR compared to other countries.
    I don't think you will find this for the DR. The real estate industry in un-regulated in the DR. Individuals don't need a license or really any training to be a real estate agent. There is no MLS in the DR. It is basically buyer beware. If you are considering investing in real estate in the DR I would be very very cautious. Between this post and your introduction post it sounds like you have never been to the DR and are unfamilar with this country. If you are thinking about buying a property to rent out as an absentee landlord I would not do this. If you are out of the country and not able to monitor your property you are setting yourself up for problems down the road. Come to the DR get a feel for the place and see what life is like. You might also want to contact a real estate agent to show you some properties. You can find listings for real estate companies in SD by simply searching on the net. Good luck.

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    Quote Originally Posted by LTSteve View Post
    I don't think you will find this for the DR. The real estate industry in un-regulated in the DR. Individuals don't need a license or really any training to be a real estate agent. There is no MLS in the DR. It is basically buyer beware. If you are considering investing in real estate in the DR I would be very very cautious. Between this post and your introduction post it sounds like you have never been to the DR and are unfamilar with this country. If you are thinking about buying a property to rent out as an absentee landlord I would not do this. If you are out of the country and not able to monitor your property you are setting yourself up for problems down the road. Come to the DR get a feel for the place and see what life is like. You might also want to contact a real estate agent to show you some properties. You can find listings for real estate companies in SD by simply searching on the net. Good luck.
    You're right that I am interested in looking for real estate, interested enough to take a trip to DR specifically to explore the market. This by no means is an investment I am set on doing so the worst case scenario is I get a nice little vacation

    I've looked at many listings on Spanish websites and my impression is that a 1 bedroom in a middle/upper class neighborhood will be listed at $60-$90k USD. Is this accurate?

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    Been checking out real estate here for eight winters. Mostly North coast. Some private listings and a lot of real estate company listing. Most times I come away with a strange feeling in my gut. The truth is an elusive thing in the DR and, as you have been advised, its buyer beware because there are no real estate rules here. You can arrive here tomorrow, put up a sign with your phone number on it, start selling real estate and cop off with a 10% fee for each sale. My preference is homes over condos. Condo fees here can be volatile. Don't know where or what your looking for. You can PM me when you get enough posts and I can give you more information.

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    You got me all excited with "historic real estate prices" headline. I was ready to sell my house. No way of knowing what people really get when they sell. Only way is to go look at lots of houses like what you want or like what you are selling. Buying is easy here, selling not so much. No one really makes a healthy profit equivalent to what you would expect in a healthy real estate market in the real world.

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    Most folks I know are happy to sell at or near the break even point. Some are happy to just sell period. Kind of part of the living in paradise thingy. Lots have the dream of buying then renting it to help pay the mortgage. Really bad idea fraught with problems that rarely works out. In short the real estate market here is a free for all with no rules, regulations and its buyer beware in the extreme. Good luck with you plans.

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    Quote Originally Posted by StringTheory View Post
    You're right that I am interested in looking for real estate, interested enough to take a trip to DR specifically to explore the market. This by no means is an investment I am set on doing so the worst case scenario is I get a nice little vacation

    I've looked at many listings on Spanish websites and my impression is that a 1 bedroom in a middle/upper class neighborhood will be listed at $60-$90k USD. Is this accurate?
    From what I've seen $60K-$90K would be a good "ballpark" number for a 1 bdr depending on what middle/upper class neighborhood you are in. Very hard to get any historical info here. Real estate prices here have been basically flat for the last 10 years, although the same applies to real estate in countries like Costa Rica, Panama, Ecuador, Mexico, etc. Interest in buying vacation or retirement homes/condos seems to have faded.

    I prefer a house, but unless you buy in a gated community, and prices will be out of your range there and you still have HOA fees to deal with, I think condos are a better deal and have more security than your average house.

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    Quote Originally Posted by StringTheory View Post
    You're right that I am interested in looking for real estate, interested enough to take a trip to DR specifically to explore the market. This by no means is an investment I am set on doing so the worst case scenario is I get a nice little vacation

    I've looked at many listings on Spanish websites and my impression is that a 1 bedroom in a middle/upper class neighborhood will be listed at $60-$90k USD. Is this accurate?
    Why Santo Domingo? Do you have any language skills? If you are staying for 3 weeks why not spend a week some place else to see what the rest of the country is like? Just a thought

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    Quote Originally Posted by cavok View Post
    From what I've seen $60K-$90K would be a good "ballpark" number for a 1 bdr depending on what middle/upper class neighborhood you are in. Very hard to get any historical info here. Real estate prices here have been basically flat for the last 10 years, although the same applies to real estate in countries like Costa Rica, Panama, Ecuador, Mexico, etc. Interest in buying vacation or retirement homes/condos seems to have faded.

    I prefer a house, but unless you buy in a gated community, and prices will be out of your range there and you still have HOA fees to deal with, I think condos are a better deal and have more security than your average house.
    That's interesting to hear. So prices are more or less the same in DR as they were 10 years ago? My understanding is that the country has made a lot of improvements in the past two decades and tourism remains strong, what's holding the demand back?

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    Quote Originally Posted by LTSteve View Post
    Why Santo Domingo? Do you have any language skills? If you are staying for 3 weeks why not spend a week some place else to see what the rest of the country is like? Just a thought
    I'm targeting SD for now because I don't trust cities dominated by a single industry such as tourism or retirement. I figure 3 weeks would barely be enough for me to get a feel for just this one city and its different neighborhoods, maybe I'll come back in the future for a second look elsewhere. It IS warm and I hate NY winters

    How long have you been in DR for and what part are you in?

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