real estate - I am interested in buying

palmas

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Jan 7, 2002
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Hi! This is my first time on this site.
We have been to the D.R. 4 times, and all 4 times in the Bayahibe area. The last 2 times we stayed at The Viva Dominicus Resort. We were just there in January of this year and continue to enjoy this particular area,so much that we are planning on returning. However, on my 2nd last day I decided to take a walk around the outside area of the hotel to inform myself (just out of curiosity) regarding real estate. Well, I found myself looking at beautiful condos outside the Dominicus Palace wall, and also found a real estate company ( or so I thought ). They are called G.S.M. - General Service Management s.a. What I have found out is that they are part of the Dominicus chain and are building in this area which will be called - Dominicus Americanus. The whole concept sounds wonderful, but all we want is to look into buying a vacation home for now. Does anyone know anything about the real estate in this area as well as who this company really is. I find it a bit pricey, especially converting my canadian dollars into u.s. dollars.
I hope someone can give me some insight on this matter.
Thanks.
 

Golo100

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Jan 5, 2002
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Palmas

I am not sure what you call pricey, but anything on or very near the beach, with beach access rights and priviledges is expensive. They do not longer build cheap real estate on the beach. The land is too valuable for cheap housing, specially in the Bavaro area and the East coast.

You will find yourself paying over US$250,000(starting prices for smaller units) for beach properties and some in the higher end, depending on the site. For instance a small 150 meter apartment on the beach would go as high as $US185,000. Off the beach expect to pay upwards of US$75,000 for small units. Anything over 200 sq. meters will have a steep price.

Casa de Campo will hit the $1,000,000 mark easily for villas. In the Capcana project you have to be a founder to get yourself a house there and plenty of cash to get in.

The North coast and Samana are cheaper, but not by much.

TW
 

Robert

Stay Frosty!
Jan 2, 1999
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Cap Cana Project

You do not need to be a founder to buy real esate.

This is in my opinion going to be one of the best developments in the Caribbean.

Below is some info from Cap Cana. Lots start at US$275,000.

Cap Cana Real Estate Info
----------------------------------
The current real estate offerings include magnificent homesites on the white sand beaches of Juanillo, private Punta Espada Golf Course and coral coast, as well as luxurious condominiums on the beach and new marina. Estate homesite prices will range from $275,000 to $6,000,000 and condos from $275,000 to $1,000,000. Sales are being conducted through a unique
reservation system for both condominiums and homesites.


Homesite and Condominium Reservation Program
---------------------------------------------------------------
In late spring 2003, Cap Cana will host a special event when reservation Holders will have the opportunity to select and purchase a condominium and/or an estate homesite based on priority number. An initial release of world-class condominium residences located on the beach and on the water-front in the marina will be made available. In addition, estate homesites on the first private Jack Nicklaus Signature Golf Course in Punta Espada, on the breathtaking oceanfront coral coast in Costal del Coral and on the white sands of Juanillo Bay and Marina Beach will also be available.

A fully refundable deposit of $2,500 (condominiums) or $5,000 (estate homesites) into a Stewart Title escrow account along with a completed reservation agreement generates a priority number. Reservation Holders will receive all relevant information on the residence/property/clubs as well as all necessary documentation prior to the date of opening. Reservations are time-sensitive. The priority number generated by a reservation will establish what order in which selections will be made. It is extremely important to strongly consider completing a reservation form and deposit if
interest is high.

More info: http://capcana.com
 

palmas

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Jan 7, 2002
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Re: real estate

Thanks for taking the time to respond back. This Cap Cana project sounds spectacular, but way out of my league. I'm just looking for a small vacation home or condo that is not on the beach but within walking distance. This Dominicanus Americanus is located in a great area, but it seems that they have bought up every square metre available and are now selling. You can buy a minimum 500 sq. metre property including house (100 sq. m.) and including all costs such as notary,taxes,project costs etc., for $110,000.00 u.s.. I also saw a condo there very nicely constructed and only 50 sq.m. for 120,000.00 u.s. I guess what I am trying to find out is if anyone knows the actual cost of real estate in this area and if it should be lower, should I offer lower and if so, how much? Is this how they do things there? The prices sound great, but for me $110,000.00u.s. is $170,000.00 canadian.
 

JanH

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Dec 26, 2002
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Palmas - if you can pull yourself away from the Bayahibe area, check out my thread dated 2/26 "Experience in Buying Home in Sosua".

I did 6 months research of prices in the DR. The southern end with Casa de Campo Resort has 2 b/2b villas starting at $225K US. Boca Chica has a large 4000 sq ft home on the ocean for just $170K US.

Sosua/Cabarete area has many many condos on or near beach for around $50K for 2 bedroom.

Do your research on real estate web sites in the DR. With your search engine, type in "Palm Hills Real Estate Dominican". Also "Century21 Dominican". Palm Hills is the most comprehensive real estate web site I've seen for land, apartments, homes, etc. Also use your search engine for typing in other parts of the country, such as "Punta Cana Real Estate".

Good luck AND DO YOUR HOMEWORK FIRST!!
 

MommC

On Vacation!
Mar 2, 2002
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Juan Dolio Beach area

has nice 110 sq.mtr. units - 2 bdrm, 2 baths for $68-80 US.
Just 300 feet from the public beach with "ocean" (actually Caribbean Sea) views......
You can PM me for further info!!
 

JanH

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Dec 26, 2002
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Soon_Free: Click on this link:House in Boca Chica

I've been by the house a few months ago, but didn't go through the gate. It's right outside Boca Chica and on the ocean; however, I believe there is no beach, just the big cliffs down to the ocean from the back yard.

It only sustained some shutter damage from Hurricane George.

The owner doesn't live in DR and doesn't rent it out. I believe ReMAX told me that he was tired of going back and forth every time something went wrong. It's been for sale about a year or more. It would probably go alot cheaper.
 

AlaninDR

Mr. Chunky Skin
Dec 17, 2002
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Thanks Jan......, the house did sell for less money (I bought it last summer). Wonder how long it will stay on the website? The agent has called several times with offers but i'm not interested in selling. Guess he holds hope of making another commish. Still having work done, new windows, paint, plumbing and furniture. There is a small private beach and the swimming is great. So sad I have to stay in Texas now for another few weeks.
 

Firecap

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Mar 2, 2003
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Soon Free, how much did you have to pay, if you don't mind my asking. We also are living in Texas and are on the verge of buying a house in Mexico. I just happened to notice houses here are more affordable. We live in Denton, just north of DFW area. Thanks, Glen.
 

palmas

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Jan 7, 2002
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real estate in the south, anyone?

Wow!!!!

Is everyone out there from the great Dominican North?

Well this Canadian would like to know if there is anyone out there that lives or works in the southern part of the Island.

I've heard that the Northern part of the D.R. is just breathtaking, but I sure would like to know about real estate in the south.

I have been however, searching as well in the North around the Samana area, but all the real estate agents that I emailed (and there were 5) only 2 emailed back promptly. They were - Andresa s.a. and Palm Hills Real Estate. I am still waiting for the rest of them.

Palmas
 

JanH

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Dec 26, 2002
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Palmas - Get in touch with Century21 for Sosua/Cabarete area by emailing direct to the realtor we used, Dean Brown (islandcruisers@hotmail.com). Tell him Doug and Jan referred you. You can pretty much use one realtor because buyers will list with several of the agencies. Dean showed us houses from Palm Hills and Andresa, plus some others.

On the southern end, we talked to Remax of Santo Domingo, which covers there all the way down to La Ramana. They can also get you in touch with realtor for villas in the Casa de Campo complex outside La Ramana.
 

palmas

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Jan 7, 2002
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JanH,

Thanks for giving me Dean's email address. His agency was one of the real estate companies that I contacted on Monday and have yet to respond. I will certainly contact Dean this week.

What places did you see in Samana? Is it as beautiful as they say? Why did you not choose that area over Sosua?

Let me know what ever you can about the Samana area.

Thanks
Palmas.
 

ecarignan

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Jan 9, 2003
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www.commtech.ca
palmas,

In my short experience of the DR, I've been to the north coast, La Romana, Samana, and Punta Cana. You will find that the north coast has much more developped real estate than the south coast or Samana and therefore offers more choices and good affordable real estate.
Some might say that it may not be the most beautifull place of the DR (certainly Samana and Bavaro are very nice) but at least there is real estate for resell and it's affordable.
Again, don;t quote me on this, I'm still fairly new to the DR (8 visits in the last 4 yrs) but I decided to buy real estate on the north coast.
I'm from Ottawa so I also had to convert my CD$ to USD.

ecarignan
 

JanH

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Dec 26, 2002
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Palmas - we didn't visit the Samana area. We looked outside Santo Domingo, Boca Chica, some small towns past that, and La Ramana.

I remember researching Samana on the internet to see how easy it was to get there and how the roads were to go to other cities from there. At the time, there wasn't good access. Maybe that is why there is a lot of unsold property there. So, one thing to know BEFORE deciding on place to live is how easy it is to get there. I wouldn't want to fly to DR and then still have 1-2 hour drive to my villa.
 

palmas

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Jan 7, 2002
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Ecarignan,

Where in the north D.R. did you buy your property? Is it in a developed area where there are many homes around? What made you decide to buy in this area of the D.R. as apposed to the La Romana area? Was it price? How much did you pay and what is the size of your property and house/villa? (if you wouldn't mind revealing this)

I know I am asking too many questions, but being a Canadian like yourself, it hurts to pay that exchange rate. (which is now looking better and better all the time) The bank today said that the dollar was at 1.4874.

I feel that the Bayahibe/Dominicus area may become an investment for us in the near future. Who knows. With Wayne Fuller behind all of this it could add some more good fortune into the area. It is a beautiful area with the National Park East, the carribbean waters, Isla Saona, Altos chavon and very few resorts. It can't become another Cancun or Punta Cana because the rest of the land is protected by the Government with regards to the National Park. And then there is Casa De Campo nearly bordering with these properties which will not allow it to become too congested.

Who really knows what the future holds, but for now I'm still trying to find out as much as I can and base my decision from there. I'm also waiting patiently for our dollar to rise and the U.S. to drop so that I may buy some U.S. dollars.

Thanks,
Palmas.
 

rendul

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Feb 24, 2002
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Real Estate on the North Coast

Hi Palmas. We purchased our house in Cabarete which has a gated community called Pro Cab. We can walk to everywhere and have the privacy and peace of a quiet community. If you are looking at the north coast check it out as well because it is less populated than Sosua, has all the necessary shops, groceries, ATM's, etc. while we still have the public transportation to Sosua and all the other northern coastal towns. We did not want to buy a car yet so this lets us vacation without the hassle of needing a car or taxi all the time. There is a real estate agent in Cabarete by the name of Pierre Dardolet of L'Agence Real Estate. His website is: http://agencerd.com/english/frameset.html

He also administers our development. Good luck on the hunt. We researched our purchase for six months before coming down and scouting the properties.
 

mainer

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Mar 22, 2002
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JanH said:
Palmas - we didn't visit the Samana area. We looked outside Santo Domingo, Boca Chica, some small towns past that, and La Ramana.

I remember researching Samana on the internet to see how easy it was to get there and how the roads were to go to other cities from there. At the time, there wasn't good access. Maybe that is why there is a lot of unsold property there. So, one thing to know BEFORE deciding on place to live is how easy it is to get there. I wouldn't want to fly to DR and then still have 1-2 hour drive to my villa.

Palmas,
Samana is more than a 1-2 hour drive from the airport. Samana is very beautiful, but rather remote. Ken knows a great deal about the penninsula, and so does Andy B. You can try Samana.net for more info.

mainer