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  1. #1
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    Default What the heck is wrong with real estate in DR?

    What the heck is wrong with real estate in DR? Are these real estate companies out of touch with reality or is it me? Every little piece of land in the Sosua area is listed for $US in the hundreds of thousand. A .14 acre (about 1/2 tarea) listed for about $US 150,000. 217 acre for $10 million. By my calculations, the cost of DR land is now more expensive than Westchester County in New York, one of the most exclusive and expensive areas to live in the United State. I cannot seriously believe that anyone is purchasing at these prices. It is obvious that realtors and their clients have no idea of what $US 10 million can buy and must be assuming inflation in the US runs at the same rate it does in DR.

    What a joke! $US 10 million would buy me a lot of property in a in a modern, well educated country, with a good infrastructure.

  2. #2
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    You don't say what sort of land you are talking about. Was it ocean front? There has to be something about that land that makes it special to carry such a high price tag. What is it?

    There is plenty of inexpensive land for sale in the Dominican Republic. Generalizing to "real estate in the DR" on the basis of the one piece you spoke of is unfair.

  3. #3
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    Talking Hola Profeta!!!!

    DR1 has---
    Members: 3,290, Threads: 21,013, Posts: 121,656

    Do your homework (Search, Search, and Search again!)
    Ask your questions.
    And Good Luck!


    By the way---
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    Help, and be Helped.
    Thats why were here!!!

  4. #4
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    Ken, take my word for it he doesn't have any idea about real estate prices in Sosua.

    I have seen real estate prices way cheaper than that. I saw a 1/4 acre lot in a gated community in Cabarete for 12k.

    Here are a few listings:

    Project ID: G-185
    Place: Cabarete
    Lot

    --------------------------------------------------------------------------------
    Lot Price per acre Price Total
    0.14 acres
    570.00 m 50,663.38 USD
    12.52 USD per m 7,136.00 USD

    Project ID: G-248a Special!
    Place: Sosa
    Lots

    --------------------------------------------------------------------------------
    Lot Price per acre Price Total
    0.19 acres
    750.00 m 51,799.33 USD
    12.80 USD per m 9,600.00 USD

    Project ID: G-135
    Place: Above Sosa
    Lots with ocean view

    --------------------------------------------------------------------------------
    Lot Price per acre Price Total
    0.20 acres
    810.00 m 72,842.81 USD
    18.00 USD per m 14,580.00 USD

    Project ID: G-122
    Place: El Choco/Sosua
    Lot - about 5km to the beach, ocean view

    --------------------------------------------------------------------------------
    Lot Price per acre Price Total
    0.49 acres
    2,000.00 m 30,351.17 USD
    7.50 USD per m 15,000.00 USD

    Project ID: G-246
    Place: Sosa
    Lots in new residential area

    --------------------------------------------------------------------------------
    Lot Price per acre Price Total
    0.22 acres
    886.00 m 68,795.99 USD
    17.00 USD per m 15,062.00 USD

    Project ID: G-248
    Place: Sosa
    Lots with 18 months financing and 20% down-payment

    --------------------------------------------------------------------------------
    Lot Price per acre Price Total
    0.19 acres
    750.00 m 84,983.28 USD
    21.00 USD per m 15,750.00 USD

    Project ID: G-258 NEW
    Place: Cabarete
    Lots in Golf and Beach Resort

    --------------------------------------------------------------------------------
    Lot Price per acre Price Total
    0.25 acres
    1,000.00 m 70,819.40 USD
    17.50 USD per m valid only till: 31.Dec.2003
    (17,500.00 USD)
    12,000.00 USD

    Project ID: G-262
    Place: Between Puerto Plata and Sosua
    Lot with Ocean View

    --------------------------------------------------------------------------------
    Lot Price per acre Price Total
    0.49 acres
    2,000.00 m 40,468.23 USD
    10.00 USD per m 20,000.00 USD

    Project ID: G-166
    =============================================

    So who is crazy?

  5. #5
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    Default As the old saying goes:

    "They ain't making any more of it!"
    Which is especially true on an island!!!!
    Now how many times would the DR "fit" into the land mass of the US??
    That is roughly how many times more the land in the DR is worth compared to "American" soil. Next factor in the premium for ocean front (which is how many times more in the US than for "interior" lands??) and you can get a rough idea of how much more valuable land in the DR is.
    Soooooooo............

    GO FIGURE!!

  6. #6
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    Default

    hehehe, how about the fact that he is just wrong Will Rogers? LOL

  7. #7
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    Default Re: What the heck is wrong with real estate in DR?

    I don't think the prices are anything but reasonable from what I've seen if you consider that you're living in the Caribbean. I've found quite a few houses and lot's that looked like great deals around Sosua. I think it's a matter of location,location,location.

  8. #8
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    Default

    Originally posted by Profeta
    What the heck is wrong with real estate in DR? Are these real estate companies out of touch with reality or is it me? Every little piece of land in the Sosua area is listed for $US in the hundreds of thousand.
    Ignore the above, Kari, it is preposterous to say that "every little piece of land in the Sosua area is listed for $US in the hundreds of thousands. The statement should have been posted in The Clown Bin. I've lived in the DR since 1986 and in Sosua for almost 3 years, so I have some knowledge on which to base my statement.

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