I am baffled by how many houses and apartments are for sale all over Santo Domingo. Yet all of them are so over-priced - even the prices to Dominicanos is over-priced, so none of the property moves, the for sale signs stay up on the gates.
You can drive through many neighborhoods and see for sale signs every two to three houses. Yet nobody with a real price, mostly because their neighbor is asking just as high or higher.
One person told me $3M for a 3 bedroom apartment. I know he upped it for the gringo - but I still had to laugh immediately when I heard the price - and out loud!
My impression: none of them really want to sell, unless some sucker comes along and offers them a stupid amount of money. And I am guessing this has happened a few times, because there seem to be a lot of people waiting for this "lottery" as opposed to selling their homes for fair market value, which would still be very good profit for many people.
The other problem is that it seems like fewer people are interested in renting their house or apartment. I presently would like to rent and find a one year contract. I keep getting faced with these "open" contracts that want to be able to give me 30 days notice to move out if they sell the place, because they are trying to sell it not rent it.
But I am still looking...
You can drive through many neighborhoods and see for sale signs every two to three houses. Yet nobody with a real price, mostly because their neighbor is asking just as high or higher.
One person told me $3M for a 3 bedroom apartment. I know he upped it for the gringo - but I still had to laugh immediately when I heard the price - and out loud!
My impression: none of them really want to sell, unless some sucker comes along and offers them a stupid amount of money. And I am guessing this has happened a few times, because there seem to be a lot of people waiting for this "lottery" as opposed to selling their homes for fair market value, which would still be very good profit for many people.
The other problem is that it seems like fewer people are interested in renting their house or apartment. I presently would like to rent and find a one year contract. I keep getting faced with these "open" contracts that want to be able to give me 30 days notice to move out if they sell the place, because they are trying to sell it not rent it.
But I am still looking...