Information is appreciated on apartment rental market is the Santo Domingo/Santiago area. This is for someone looking to own a few apartments and renting them out as to have the money secured in real estate as opposed to the bank even if the ROI is lower but more secure. The apartments would be in the 200 SQM area 2-3 bedrms. furnished in medium neighborhoods (Gazcue etc.) How is the demand for medium priced apartments? What is the going rate for this type of apartment?
- Thread starter Riu
- Start date
Apartment rental market in SD
Weekly, sometimes 2-3 weeks. Business people, tourists etc.
US$500 per week for a well appointed 1 bedroom is an easy sell in the right location.
Example: http://dr1.com/rental/
This place has a very high occupancy rate.
We will be adding another within the next few days.
Now, if you have something like this is Gazcue, forget it, your going to be booked year round. That is providing you know how to market the property, trust me, thats the trick
US$500 per week for a well appointed 1 bedroom is an easy sell in the right location.
Example: http://dr1.com/rental/
This place has a very high occupancy rate.
We will be adding another within the next few days.
Now, if you have something like this is Gazcue, forget it, your going to be booked year round. That is providing you know how to market the property, trust me, thats the trick
Riu said:
Nope. You will need to make the price much cheaper.
Short term rentals work because people compare the pricing to hotels.
Basically you get a well appointed apartment, privacy, DSL, cable etc, cheaper than you could can get a average hotel room.