Crystal Condos on Cabarete Beach?

[windeguy]

Color me surprised. Are these folks betting on Cabarete regaining its former splendor?

No, not at all. It is not a hotel, it is a number of high end, "environmentally" ha-ha friendly condos meant to be sold and then the builders get their money and move on.

Property sales are up in Cabarete. Not sure how they will be for 500K condos on the beach, but this is not about tourism.
It is about people owning something on the water. Casa Linda, Sosua Ocean Village and other developments are building and selling
non beach front properties. This spot is one of the last available right on Cabarete Beach. But do they have enough funding to finish it?

 

[windeguy]

$500K and if that is at Encuentro, as Post #12 says, where you have to drive 6 miles in either direction to buy food ? Color me skeptical that there will be many to pony up at that price since Abinader has started corruption investigations and is stopping many of the government officials who laundering money through shell real estate purchases

No we have determined it is in the center of town in Cabarete, thanks to the help of other posters who know the site near Pomodoro. It is one of those out of sight from the main road, so you can access it from the beach or the ally behind Perdomo's offices.

Casa Linda is building heavily near Encuentro. I think other smaller projects are also happening between the main highway and Encuentro as well. The 60 Meter mark has been enforced for public access. I expect that to continue, at least as long as Freddy is mayor.

Like I said, the market has turned from tourism to selling houses and condos. It has been sped up by the pandemic.

 

[windeguy]

Demolished, or renovated?

I think demolished, for the Casino, is the word. But it is not completely down when I passed through that area last week.

 

[windeguy]

By the way, there is also some significant work done already in that part of the area called Sosua. And I don't mean one small part of Pedro Clistante.
If you go into Los Castillos you will see the new construction of condos near the center of this map:

Los Castillos · 57000, Dominican Republic

57000, Dominican Republic

www.google.com

It is all about building houses and condos for sale on the north coast as it was realized tourism isn't going to return as it once was.

 

[drstock]

I did not notice any work last week at the W site, but I didn't walk the beach that far west.

They have been putting up a new fence by the road in the last week. That might mean something is going to happen there.

 

[Kricke87]

By the way, there is also some significant work done already in that part of the area called Sosua. And I don't mean one small part of Pedro Clistante.
If you go into Los Castillos you will see the new construction of condos near the center of this map:

Los Castillos · 57000, Dominican Republic

57000, Dominican Republic

www.google.com

It is all about building houses and condos for sale on the north coast as it was realized tourism isn't going to return as it once was.

What "new" condos are you talking about??? I live in Los Castillos and there are no "new" condos being built here. Houses yes, but they are privately owned houses, either for the owners to live in or for them to rent them, but no condos. Yes there's a big "complex" but that's been there for 5 years now, and it's supposed to be build another one just like it, but nothing has happened since that one was built. And I would be surprised if anything happened with that project the next few years.

 

[windeguy]

What "new" condos are you talking about??? I live in Los Castillos and there are no "new" condos being built here. Houses yes, but they are privately owned houses, either for the owners to live in or for them to rent them, but no condos. Yes there's a big "complex" but that's been there for 5 years now, and it's supposed to be build another one just like it, but nothing has happened since that one was built. And I would be surprised if anything happened with that project the next few years.

Ah, they looked like condos to me. My mistake then if they are indeed all private houses.

There are some condos recently built near the area of Sosua Ocean Village/David Tire Shop north of the main highway.

And we still have the dormant Dream City Scientologist project as well. Will that ever be done?

 

[melphis]

Don't put a peso down until it is completely built with titles in hand. 500k is a ridiculously high number for a pre build that is not directly on a beach. Most of the websites are gone but to name a few Roko Key, Rio Benito, Punta Perla etc where all high end luxury properties that all went bust in the pre build selling stage. These were all in the PC area with all sorts of celebrities and politicians at the ribbon cutting ceremonies. (Not one peso was returned to any buyers)

For any one considering buying here, my advice would be to rent for at least 6 months in the area you want to buy in. You may decide renting is a lot more convenient than owning here.

 

[windeguy]

Don't put a peso down until it is completely built with titles in hand. 500k is a ridiculously high number for a pre build that is not directly on a beach. Most of the websites are gone but to name a few Roko Key, Rio Benito, Punta Perla etc where all high end luxury properties that all went bust in the pre build selling stage. These were all in the PC area with all sorts of celebrities and politicians at the ribbon cutting ceremonies. (Not one peso was returned to any buyers)

For any one considering buying here, my advice would be to rent for at least 6 months in the area you want to buy in. You may decide renting is a lot more convenient than owning here.

I think it is right on the beach in the case of Crystal Condos since we have identified that location.

I agree 100% on not putting one peso into a non-completed project.

 

[bachata]

I think it is right on the beach in the case of Crystal Condos since we have identified that location.

I agree 100% on not putting one peso into a non-completed project.

Oh yeah... Old Dominican say ,,/ Cuarto en mano culo un tierra. I bought my apartment in Sosua and three weeks later was making 🤑

JJ

 

[bachata]

I met in downtown PC with the sales representative of a constructors company, I noticed all the rods of two of the projects was rusted as they have been exposed to weather for years.

I don't get caught.

JJ

 

[Big]

I hate to say it but there will no doubt be some sucker to purchase during the "glossy pamphlet handsome/pretty sales rep" stage

 

[mobrouser]

Don't put a peso down until it is completely built with titles in hand. 500k is a ridiculously high number for a pre build that is not directly on a beach. Most of the websites are gone but to name a few Roko Key, Rio Benito, Punta Perla etc where all high end luxury properties that all went bust in the pre build selling stage. These were all in the PC area with all sorts of celebrities and politicians at the ribbon cutting ceremonies. (Not one peso was returned to any buyers)

For any one considering buying here, my advice would be to rent for at least 6 months in the area you want to buy in. You may decide renting is a lot more convenient than owning here.

So deposits are not held in trust and are used for direct financing? Good to know.

 

[Gadfly]

They may say yes they are, but buyer beware, it may mean nada in the end. Melphis nailed it

 

[melphis]

So deposits are not held in trust and are used for direct financing? Good to know.

That would be the way it should be done. But this is the DR. Put all you know about real estate and flush it.
None of that works here. There is absolutely NO rules when it comes to real estate.
If it is not built with a title in hand it is worthless.

 

[cavok]

OPM was a very common way of financing luxury condos on Brickell in Miami, too. A lot of buyers found out the hard way.