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  1. #1
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    Jan 2002
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    Question real estate - I am interested in buying

    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.

  2. #2
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    Wink 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

  3. #3
    DR1
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    May 1999
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    Thumbs up 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

  4. #4
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    Default

    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.

  5. #5
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    Default

    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!!

  6. #6
    On Vacation!
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    Mar 2002
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    Default 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!!

  7. #7
    Mr. Chunky Skin
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    Default

    JanH
    Do you have a link to the house in BocaChica for 170k?

  8. #8
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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.

  9. #9
    Mr. Chunky Skin
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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.

  10. #10
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    Mar 2003
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    Thumbs up

    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.

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