Not only that; the "drought" this year has forced many of the properties to shut off the water overnight (although I don't know how that can have much of an impact for conservation if it normally isn't used overnight). If there isn't a sustainable water source right now for the current properties, how is there going to be enough with they build several thousand more properties? But no one is talking about that.
- Thread starter NALs
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Dominicans Abroad and Middle Class Punta Cana Residential Real Estate
I would say it's been sold, because it's where Noval plans to put the Atlantida development. https://novalproperties.com/en/projects/atlantida And the River Island Development https://novalproperties.com/en/projects/river-island
spoke with two real estate agents the other day at lunch they both said they haven't sold an apartment in a month and a half as I said a year ago they are over building in Punta Cana
Never forget the money laundering aspect to such endeavors.
My friend said the same. The issue is that building costs have gone up hugely and the selling prices have also had to go up but this at a time when interest rates have gone up. A lot of people are struggling to pay for their first homes and won't consider buying a second one. These new builds are always massively overpriced anyway. And the logic for a lot of people is to buy and then Airbnb to pay for it but at least in Santo Domingo there is such a huge oversupply of Airbnb that they are struggling to rent.
That is true about air bnb .Maybe it's just me but I would never buy a house on spec here I do not trust these people at all I've seen too many projects that was supposed to take 2 years never be built or rebuilt in 5 years and really what can you do not much unless you have a ton of money and plan on taking them to court but even that it's just aggravation and a waste of time who wants that not me
Sounds like the founder of Arajet. In the interview I posted in another thread, he mention the several businesses he worked for/had prior to Arajet and mention for a certain tinr he became a real estate broker at Casa de Campo. He says it was horrible as he hardly made any sales.
Like in all types of sales, 90% are made by something like 10% of sales brokers. It goes without saying that you speak to most salespeople and they will describe their experience which isn't the case for the few high rollers who are making most of the sales. In really good times most salespeople will be doing good compared to how they do when things become tough, which is periodically as it's a cycle. High rollers will be doing good even in tough markets, just not as good as when the market was good. Most salespeople will struggle when things get tough and they will not get the relatively few sales that came there way during the good times.
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Some folks are born salespersons, most are not.
Reality quickly filters out the riff-raff.
You mean this one? This is where you were taken when the only thing there was "fields of dirt, no fairways, no bunkers, no nothing."
They say executive golf course, which means it will have less than 18 holes. But this doesn't look like a field "with nothing" anymore and the light poles are there.
This is in Bávaro where most of the coast has beachfront resorts, not residential homes or apartment blocks. The places that has the most coastline for residential purposes are Puntacana (well, there it's for the most part country clubs with homes) and Cap Cana. In those places there is still beachfront undeveloped land, especially in Cap Cana.
Macao is another area with much beachfront available, almost all undeveloped. That place has a higher height restriction, so expect residential highrises to pop up in the next few years. As seen in Juan Dolio, a highrise basically multiplies the amount of residential units with a sea view and on beachfront property, certainly more than a single family home or an apartment complex with no more than 4 floors (or a few more, but by law elevators must be installed in buildings with 5 floors or more.)
Plenty of coastline available, IMO. Just not in Bávaro. It goes without saying that anyone living in gated communities in Bávaro, almost all are not on the beachfront.
Úvero Alto is another area with much undeveloped beachfront land, but aside from really being out there, the beach itself while still beautiful is not like seen further south on the coast and even the sand is somewhat different. The water is also rougher with stronger waves reaching the coast.
Like a middle income project in the middle of washington heights. Not near the sea.
Environmental Impact assessments ordered by the government are configured to suit the interests of the politicians, developers, and investors. The EIS for the Maimon cruise ship port was a joke. Many locals protested but it fell on deaf ears. I keep harping on this in my posts. What the government has to commit to is a comprehensive Coastal Zone development plan and proper EIS’s. The corruption in DR development has to stop, otherwise the impact on potable water sources will get worse.
The DR is all about Cruise Ship ports and AI resorts.
More will continue to be built as the investors and government see fit.
That is where the revenue is. Pedernales is next. Those who like Florida Flat can stay in Punta Cana.