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  1. #1
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    Default Villa or apartment

    Firstly, thanks for the replies to my previous question about investment properties on the north coast.

    I am looking for a property to rent out full time, hopefully making a small profit from rentals and any long term gain from capital appreciation.

    I'm unsure whether to go for a Villa or an apartment.

    Places I've considered so far have been

    Casa Linda
    Costa Azul
    Coral Village

    Orillas Del Mar
    Kite Beach Hotel
    Ocean Dream
    WindChime

    Any feedback on any of this or other suggestions would be great.

  2. #2
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    We are currently renting a villa for a year and do know of some of he areas you are questioning. PM me if you like

    Bob K

  3. #3
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    You didn't consider the Hispaniola Residence in Sosua ?

  4. #4
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    O yeah
    Forgot to stay we are also considering Hispaniola Residence in Sosua.
    Only A few lots left apparently.

    If anyone has information on this developemnt it would be good

  5. #5
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    Ive had a look at Casa Linda i was pretty impressed.

    nic

  6. #6
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    To answer your main question villa or condo. Again, it depends, I think condos will not increase in value as much as villas as the market is being invaded by tons of condos, so expect some resale at pre-contruction prices and competition from sellers wanting to unload their condos. That is not the case for villas. BUT condos are typically easier to rent out than villas. So, again, if going for capital gain: villas, if going for rental income: condos.

    I have owned and sold in Casa Linda, I believe in the ones you considered, this is the best for rental BUT one of the worst for capital growth as you can only sell at a discount from what Casa Linda is selling new ones (ie. no one is going to pay a premium for resale instead of getting a new construction), so Casa Linda dictates the prices and therefore your capital growth. That is the reason why I sold in there, I felt my house elsewhere would have been worth more than in Casa Linda. The other one that will have a lot of rental potential is Hispaniola once it is built. Phase II should hit the market wihin a few months. Again, capital growth is dictated from Hispaniola's new constructions prices (ie. can't sell over their new house prices).

    That is different for other projects like Costa Azul (where you only buy the land and contract the building) ProCab and others BUT renting is harder since communities are not as organized and not as nice as Casa Linda and Hispaniola. Coral Village is so so for my taste, I wouldn't see myself renting there, not uch landscaping, communal pool, in la Mulata, which doesn't have the best reputation for security. In my opinion, both Costa Azul and Coral Village do not compare to Casa Linda or Hispaniola in terms of beauty. So, if going for a villa, stick with Casa Linda and Hispaniola

    For condos, now you have lots of choices. Orillas del Mar almost got me to buy 2 years ago. It's beautifull but out of town with nothing around it, not convinced about much capital growth there but depends how much you pay. Kitebeach and Ocean Dream are in a league of their own and perfect location too but these should be 3X the price of Orilla and WindChime. These could return a decent profit over time and would ensure good rentals. Again, purchase price should be a concern. The only negative about Ocean Dream is overbuilding, it's becoming a city in itself. I think that's why some of the original buyers are selling, getting too crowded. Kitebeach would be my 1st choice in your list BUT you'd have to start kitisurfing. Don't have much opinion about Windchime since I don't know the place too well.

    My opinion may differ from other posters and investors. Sorry if I offended any owners. Just trying to help the OP make the right decision. Seems to be going in the right direction and doing the right research.

    Good luck and don't hesitate to get more feedback once you've narrowed down your choices.

  7. #7
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    A note on Windchime.. The entire hotel is listed for sale (for $5 million). Not sure how individual owners will be dealt with if someone actually wants to pony up the cash for the entire property...

    Is Kitebeach still offering their guaranteed % return program? If so, It's worth considering heavily...nice property in a nice location with a good (albeit young) clientele.

  8. #8
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    Cabarete or Sosua?

    Sosua - Coral village? You can't be serious? Casa Linda - As stated, good returns, slow growth.

    Cabarete - Costa Azul - Maybe the new construction in it's own gated community otherwise no way! Have you seen the size of the Bario? Ocean Dream, Ocean One, Cabarete East are all favorites but how far will prices continue to rise?

  9. #9
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    I know I am a bit late to post a reply to you. But we have stayed in Orilla Del Mar in 2005. Loved it. Peaceful.
    We stayed at Casa Linda (Villa Tamarindo 12). Beautiful place, location was a bit out of the way. But the worst part was the 'rana' (little frogs), according to our local friend becasue our villa faced the back, onto swamp farm land etc, we got frogs. And the noise was awful, so loud you could not drown it out. Kept us up most nights. So we had to drink more mamajauna.
    Aww shucks. LOL!. But something to consider when and where you purchase or rent a villa in this complex. Birgot whom we rented from was a sweetheart though. The whole Hispaniola group is really nice.

    Orilla Del Mar front desk service is the best. Raoul is a lot of help.

  10. #10
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    Quote Originally Posted by windeguy View Post
    Now that Ocean Dream is a "reality", does anyone know how well rentals are doing there?

    Are people really willing to pay that much rent ($900 to $1,500 per week) to be on the beach in Cabarete is the question behind my question above?

    I understand that there are a significant number of buyers from the US that liked the location, set up, and quality of the construction and have purchased at Ocean Dream. But I really wonder if these condos are not just like most pleasure yachts and sailboats that go unused except for a few weeks out of the year when their owners are on vacation.
    And they are the ones that cause the rents to go up.

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