Yes and No:
Here is my 2 pesos worth, not that anyone gives an ounce of Mierda
A) You are correct when you say: A Property is only worth what the Next person is willing to pay:
Because ultimately, yes, what someone is willing to give (generally) is what you will get, however, that does lead to Part B
B) For example, the 80's "boom", where houses sold quick, prices were escalating at rates unheard of as did mortgage rates, especially for commercial properties, there was serious $$ to be made in that "value"
"Value" is generally tied to socio-economic times, meaning, should we be in a state of Armageddon/WW3 has broken out, I don't care whether you have platinum toilets, I wont give you jack SHI7 for your place as I will need Fire, food and water, so I am more likely to take it from you than purchase (purely a silly example).
So for the North Coast, it seems that it is really an interesting Dichotomy, and I say that from the perspective of, it's great from the view of buying a place in the Caribbean, the "North American pipe dream" where many people want to buy into the dream. However, the situation in Sosua, which is yet to be determined as to its direction can distinctly change that "value", It could be feast or famine as per this - Note B