Page 1 of 2 12 LastLast
Results 1 to 10 of 16
  1. #1
    Bronze
    Join Date
    Mar 2003
    Posts
    856
    Post Thanks / Like

    Default Is real estate holding up?

    Even though much real estate is priced in dollars, I'm wondering if real estate prices are weakening due to the weak peso, and the economic crisis in general. Are sellers more anxious, and are other costs escalating and creating a less secure attitude? Have the recent well-publicized disturbances scared off some potential overseas buyers? - D

  2. #2
    Regular
    Join Date
    Nov 2003
    Posts
    47
    Post Thanks / Like

    Default

    It's a good question. I can't imagine that it's not having an effect on real estate prices. As a potential buyer I am definitely on the "sidelines" until I see how the economics develop, not to mention the social and political issues. I believe in the contrarian strategy but in my humble opinion, I don't think we have seen capitulation yet. Anyone else looking to buy? I'd be interested in hearing your viewpoints.

  3. #3
    Bronze
    Join Date
    Jul 2002
    Posts
    655
    Post Thanks / Like

    Default Good Buys

    From the reports I am hearing there are some bargains
    to be had. My wife had inquired into land prices in
    the central part of the country (Cibao). The quotes
    she heard sounded cheap.

    Happy Hunting,

    JD

  4. #4
    Regular
    Join Date
    Oct 2003
    Posts
    73
    Post Thanks / Like

    Default

    Appears to be fine. I just bought another lot for $RD 400 per metro. For the last year ALL of my investing has been in land!!!

    House prices are way up and people are dreaming, but still a few good deals to be had.

  5. #5
    Gold
    Join Date
    Jan 2002
    Posts
    7,398
    Post Thanks / Like

    Default

    I can only speak for myself and about the Sosua/Cabarete area of the North Coast. I purchased a condo in Sosua about 4 months ago. I paid 40k for it. Similar condos have sold for 64k to 68k and I only last week bought one for 58k. The only condo left that is for sale is selling for 89k. I hope he sells it and puts the rest up a little in price by establishing a new worth. These condos originally sold for over 100k fwiw.

    I bought a lot in April. I made 5 offers. One was taken. One I was turned down on which did NOT have the good view of the one I purchased sold for 2x what I bought mine for. Mine was the better lot in my humble opinion although I would have bought more lots at that same price.

    Peso is nothing to purchasers in this area since they are all from outside of the country. I am told by Century 21 and Remax that the Americans have arrived and are strong buyers of real estate lately.

    Escott

  6. #6
    Platinum
    Join Date
    Jan 2002
    Posts
    12,271
    Post Thanks / Like

    Default

    As Scott indicated, the peso doesn't enter the equation, at least not in most real estate transactions involving foreigners on the North Coast. These properties are being sold in dollars by foreigners to other foreigners with dollars. The rate of the exchange is seldom mentioned, except in casual conversation.

    What Jersey Devil is talking about is different. If you buy land in the interior from Dominicans, then the deal will most likely be in pesos and a strong dollar in relation to the peso will be to the benefit of the buyer.
    Last edited by Ken; 11-20-2003 at 09:45 AM.

  7. #7
    Regular
    Join Date
    Nov 2003
    Posts
    47
    Post Thanks / Like

    Default

    Escott,

    the two condos you bought for $40k and $58k, were they one or two bedrooms? Thanks.

  8. #8
    Regular
    Join Date
    Jan 2003
    Posts
    261
    Post Thanks / Like

    Default Expect more Canadian buyers.

    Expect more Canadian buyers now that our dollar has made significant growth over the US Dollar. I bought my villa for a good price I think but bought it when the exchange was at 1.51 CDN to 1 USD. Now that our dollar is 1.30 CDN to 1 USD. I would have saved more than $20K Canadian if I had bought today.

    The prices I've seen in Sosua/Cabarete area seem to be more expensive than a year ago.

    Good luck.

    ecarignan

  9. #9
    Gold
    Join Date
    Jan 2002
    Posts
    7,398
    Post Thanks / Like

    Default

    Originally posted by DRdiving
    Escott,

    the two condos you bought for $40k and $58k, were they one or two bedrooms? Thanks.
    2 bed/2bath 1202 sq. ft and 1377 sq. ft.

    Cant be bought at those prices today and if they can I am still a buyer of them.

    Prices are no longer soft on the North Coast. Firmed up quite a bit in the last 8 months.

    Scott

  10. #10
    Bronze
    Join Date
    Jan 2002
    Posts
    1,121
    Post Thanks / Like

    Default The Americans have seen the light.....

    I'm in the Real-Estate game, and its true that the Americans have discoverd just recently the bargains on the North Coast!
    My web site is getting action like never before.....From America

    This of course is driving prices up.
    I feel that since 9/11 a lot of Americans are seeking a safe haven away from it all and they are bringing Ben Franklin with them.

    But don't worry there are still lots of bargains to be had! ( My old Pappy used to say BUY LAND they are not making it any more)

    You can still buy BEACH FRONT PROPERTY on the North Coast for a song, If you have the right connections... Where else in the Caribbean is this possible ?

    But beware the speculators are buying it up fast...

    Gringo

Page 1 of 2 12 LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •