What the heck is wrong with real estate in DR?

Profeta

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Mar 17, 2003
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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.
 

Ken

Platinum
Jan 1, 2002
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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.
 

Timex

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May 9, 2002
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Hola Profeta!!!!

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Escott

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Jan 14, 2002
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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

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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: Sos?a
Lots

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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 Sos?a
Lots with ocean view

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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

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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: Sos?a
Lots in new residential area

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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: Sos?a
Lots with 18 months financing and 20% down-payment

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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

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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

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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?
 

MommC

On Vacation!
Mar 2, 2002
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dr1.com
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!!
 

Kari

New member
Mar 21, 2003
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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.
 

Ken

Platinum
Jan 1, 2002
13,884
495
83
Profeta said:
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.