New residential project in Punta Cana

[Chirimoya]

La Palma

I went to see this place yesterday - it's a lowish-cost housing option for the east coast area. It's between Ver?n and Punta Cana Village, near the new Coral highway. It's a suburban-style development with small houses for between RD$2-3 million (~US$50-80,000). According to the Master Plan (see website) it will eventually have a park, shops, a school and a social club and will be walled and gated. About 40 families are already living there.

 

[ctrob]

Big place, I predict it will be a success. Probably will appeal to both Domincians and expats?

My first impression was that it reminds me of the cookie cutter developments of the 1950's in the states. Nothing wrong with that, and the price point will help it be a hit.

 

[caribmike]

Maybe if one considers to buy there, yes. There are rental offers already published, prices around 500 US / month. Paying that for a house too, I have a far better deal here in Pueblo Bavaro...

Big place, I predict it will be a success. Probably will appeal to both Domincians and expats?

My first impression was that it reminds me of the cookie cutter developments of the 1950's in the states. Nothing wrong with that, and the price point will help it be a hit.

 

[Chirimoya]

Yes, you can get decent rentals in Pueblo B?varo and Residencial B?varo-Punta Cana for US$350, so US$500 does seem overpriced. At the moment there's nothing there but houses, but once the park and other amenities are complete it will probably be a more pleasant place to live. Pueblo B?varo and Res. B?varo-PC are dotted with overgrown empty lots. The landscaping and communal areas in Las Palmas are neat and well-maintained.

 

[rubio_higuey]

Those houses look ugly. Even a regular middle class neighborhood in the DR where people built brick-n-mortar houses over 3-5 years time has better looking houses.

 

[Chirimoya]

This definitely came to mind...
<iframe width="420" height="315" src="http://www.youtube.com/embed/La21jYGIQ8k" frameborder="0" allowfullscreen></iframe>

 

[rubenpriego]

If we are talking about investment, just my two cents about it, in my opinion investing in PC or Bavaro area but far away the beach maybe is not a good option, unless the development becomes a real success ...
Sometimes it is better to spend a bit more of money to get a better investment, having something close to beach I think it will always be a better one.
Long time ago I was temptep to by an apartment in Pueblo Bavaro to a Spanish developer, prices were good. When I visited later Pueblo Bavaro and I saw how far it was from beach and from anything and also checked prices in Cortecito area, it was clear that was really better to spend a bit more and get a beach walking distance apartment, not just as investment but to enjoy myself and family too.
Cheers.

 

[KateP]

If there's a company in this area that's solid, it's Grupo Punta Cana, the owners of La Palma. I believe this residential area is dedicated more towards local professionals (engineers, hotel department managers, small business owners, etc.) so the fact that it's not oceanfront doesn't really affect it. We're obviously not talking high-end housing here, just a safe, gated community for locals that live here on a permanent basis and want to raise their family here. Several years ago, we used to see a lot of personnel rotation in this area because people would come for 6 months/1 year, find it too expensive, too isolated, not enough service and then they'd leave. Now it's slowly become an area where some people actually stay and enjoy living and having a residential area that covers those basic needs is a pretty smart idea...

 

[Mike_n_Val]

If there's a company in this area that's solid, it's Grupo Punta Cana, the owners of La Palma.

I don't see anything on their website about Grupo Punta Cana, how do you know they are behind this development? I would think if that was the case they would want to use that to their advantage, as you said they are the most solid around this area.

 

[Chirimoya]

I know for a fact it is a GPC project, but also wonder why this is not made clear in their promotional materials.

 

[KateP]

Like Chiri, I know for a fact that it's theirs. Very weird that they don't promote that more... probably one of their sub-companies.

 

[yapask1]

Excellent time to invest in the fast growing DR economy. Wide choice of residential property between 40,000 dollars and 100,000 dollars. Trend has been up - up - up over last 10 years on good property. Some of Europe ( Roumania etc. ) and South America is also good.

yapask1

 

[Mike_n_Val]

I would say it's very strange that they aren't using GPC name to help lend credibility to the project considering that many would be investors would feel safer knowing that. I would never consider purchasing from a big development of this kind unless it had a very reputable developer and GPC is from what I see here the most reputable and long standing in the area.

 

[Chirimoya]

If I get the chance I will ask that question.

 

[flyinroom]

Thank-you Chirimoya.....I had never heard that song before. Lol....All those ticky tacky houses on the hill. But seriously, not everybody can live on the beach ( too darn pricey ) and the project is long overdue. Afterall somebody has to be doing the work to support all those thousands and thousands of tourists and they sure do need a place to live. Hope they put in a swimming pool.

 

[CaptnGlenn]

was just curious if anyone knows if the buyers will also own the land their house is on, or will it be a form of a condominium place where you own your house, but not the land?