Buying land US$ value better to buy now?

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Portofino

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Jun 29, 2003
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In September I would like to but a piece of land on the North Coast. The last time I was in the DR was June 02, and the peso was at about 17. Will my US$ buy more today with the peso at $30? How does the exhange rate work when it comes to people selling their land? Thanks...Bob:cool:
 
L

lurker

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Apr 24, 2003
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and you'll do better in 04,

05, 06, 07, 08 .........
the bad news ain't ending any time soon.
we all know how bad news affects property values..........
or do we?
 
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DCfred

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Jun 19, 2003
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But on the other hand, a high inflation environment is good for those who own land.
 
E

Escott

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Jan 14, 2002
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First off there hasn't been good news in the DR for as long as I can remember coming from Government. It has been bad news all along. The prices on real estate have been coming down for years. Just a question of being in the game when the bottom hits.

"But on the other hand, a high inflation environment is good for those who own land. "

Well it depends on how you look at it. If the money you get buys you less then when you originally bought it I would say inflation hurts you. Unless you are leveraged reasonably but how can you be leveraged when the rates are at 30+%?
 
S

socuban

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Nov 24, 2002
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I bought a home

in the Fall of '02, paid cash. Had I dragged out payments to the seller 6 months, I'd probably would have saved in the neighborhood of $30-40K US with the devaluation of the peso:disappoin
 
L

lurker

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Apr 24, 2003
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what if ........

the peso goes to 60/1?
makes for some interesting losses/disasters
 
B

Barnabe

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Dec 20, 2002
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Escott said:
The prices on real estate have been coming down for years. Just a question of being in the game when the bottom hits.
Click to expand...

I know this is a widespread opinion in this forum that real estate prices have been steadily going down but this is something I do not understand. In pesos, and maybe in USD, prices in SD have been UP, and also in San Cristobal for example. This is especially true for the lots. As far as I can see this was true until two years ago. When you see lots in the industrial zone of Herrera at 6000 a sqm, and they sell.. 16000 a sqm for the Kennedy...

Look at the solares in the various urbanization.. The day the street is asfaltada, prices are skyrocketting.. Look around the Charles de Gaulle.. It was farmland a few years ago..

So maybe in the North and in the south the panorama is a bit different?

Barnab?
 
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Escott

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Jan 14, 2002
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Re: what if ........

lurker said:
the peso goes to 60/1?
makes for some interesting losses/disasters
Click to expand...
It didn't make for any interesting disasters when it went from 16 to 38 or 39 so why would it at 60. Property has been priced and quoted in dollars EVERYTIME I looked anyway.

Better for the seller maybe but no different for the buyer.

You are really looking to trash R.E. in the DR for some reason which eludes me.
 
L

lurker

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Apr 24, 2003
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the markets are PERFECT

THEY and THEY alone will determine what is trash

and THEY are a good place to stay away from for a loooooooooonnnnnnnnnnnnnngggggggggggg time yet
 
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