Buying a Apartment/Condo in Santiago

domenico

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Jan 4, 2004
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As i saw my dream of buying a house in Santiago fading away, im am lucrativley searching for apartments in good neighborhoods in Santiago. How does a apartment differ from a house.

Is there maintaince fees like in the US? (security and repairs?)
Can you establish some sort of rental income with the apartment? To foreigners specifically?
Are there good oppurtunities in buying apartments in Santiago for 2.5-3 range / 3/2 good size??

Im basically looking for a apartment that i can call home when im there but establish income when im not. Short term rental to foreigners would be great but how would that work out???
 

Hillbilly

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Jan 1, 2002
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Not gonna happen. Short term rentals are a no-no. You will find that they cost more than they produce, and if one of the renters decides to stay for a while you are literally screwed!!

Another issue is the fact that most apartments now being built in the nicer areas are in the 6-8 mill range. Well built for sure but a bit pricey.

Keep on the lookout for smaller houses in places like the Jardines, Oquet, Rincon Largo, Villa Olga, and you might find that dream house.

HB
 

Chip

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Jul 25, 2007
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Santiago
Are there good oppurtunities in buying apartments in Santiago for 2.5-3 range / 3/2 good size??

Most certainly. In fact I have a friend who is selling a unit in a new development in Los Cerros de Gurabo right across from El Leon Jimenez for RD3M. It has 1900 sf and three baths. Also, in the Llanos de Gurabo area, new apartment/condos can be readily had for RD2M.
 
Jan 5, 2006
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Domenico, I sent you a PM with some info. Good luck!

Oh, and yes, there is a monthly maintenance fee for condos; and like HB told you, short term rentals in Santiago are unheard of, and only going to happen in touristy areas.
 

Chip

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Jul 25, 2007
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Santiago
hey chip could you tell me what places you looking at??

I live in Santiago in the Los Llanos de Gurabo area and in fact they have just finished two apartment complexes and are starting a third. The developer is Gutierrez, and the prices start at RD1.6M. There must be on the order of 500 plus units, with parking and security.

See links below for Gutierrez Country

Nuestros Listados

www.inmobiliariathomas.com/lm/listings/index.html

La Hacienda Inmobiliaria

Tell the owner Chi' el americano sent you.
 

domenico

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Jan 4, 2004
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thanks for the info, so how is it like having the apartment closed, does it need to be checked on on a frequent basis??? can i rent long term to dominicans with contracts with lawyers???
 
Jan 5, 2006
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If you're going to leave your apartment unoccupied, you should have someone that can check and clean at least once a month. Ceramic tile floors, which are mostly found in condos in DR, become very hard to clean if left unattended for a long time, because the dust that settles on it etches onto the surface. The windows should also be opened periodically to let in some fresh air and to avoid mold.

You can rent them long term, with a contract and a security deposit, after a credit worthiness check has been made. The lady whose info I PM'd you can help you with that. ;)
 

domenico

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Jan 4, 2004
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not bad... if i can at least rent it with some sort of agency thats fine because i cant see myself buying property to leave unattended. im going to give her a call when im there.