Higüey Middle Class Residential Boom?

[dv8]

But they are quite expensive. I know one guy who bought in Arboleda and I visited him. My apartment is 2x bigger than his 3-bedroom house.

but are they? poster in skyscrapercity forum reports that the biggest houses (two levels) cost 4 million pesos and the smaller ones are 2 million. this is on pair with barrio houses on peter's photos.
apartments in ciudad caracoli, mentioned by chiri are reportedly between 30k to 50k dollars so again, comparable range.

 

[PeterInBrat]

Six million pesos to build a similar house new?

Six million for the new build next door including a million for the lot. You can still build a new modest home for around a million here not including the lot. I think the place to buy land is in Otra Banda, on the way to Punta Cana.

You can get a bigger, nicer house in the US for that kind of money. It will even be built to code!

 

[PeterInBrat]

For every new project I've seen started, I can prob think of three half built projects that have sat derelict for five or more years, judging by the state of decay. One has a huge concrete spiral staircase in the main room. It's being used as a horse stable now. Anything for sale and they want a profit on a tear down.

 

[rfp]

There has been a boom for similar projects all over the island during the last 20 years. I have yet to see too many unfinished multi family residential project. These things do get bought or else people smart enough to have millions wouldn't keep throwing money at these things.

Comments on threads like this show who is integrated into society and who are outsiders most comfortable in the poverty culture

 

[dv8]

Comments on threads like this show who is integrated into society and who are outsiders most comfortable in the poverty culture

few posters here are young (ish), are in DR full time, have regular jobs, have kids of school age and live in cities - in other words, represent the middle class themselves.

 

[cavok]

The build across the street. Even the kids are saying it looks like a carcel. The steps are uneven with different rises the garage ramp has a slump in it. Slop work for three times the price of the nicer house next to it. The work on the apt builds makes me cringe. Code? Engineers? Ridiculous how bad it is.

That's really pretty bad. Can't see paying 2 million pesos for that.

 

[cavok]

There's construction all over for the full spectrum of incomes and it seems to have been going on for some time. Six new apt projects started within three blocks of us and too many upgrades to mention. The city is growing and good(and bad) apts are in short supply. They're upgrading barrio streets first with gutters and sidewalks, but still no paving. Lots here in our Villa Cerro barrio are going for a buck a square foot and up. One right next to a Haitian shanty a few doors down from us.

Another build across the street from us looks very much like the ARBOLEDA photos above. Not my taste, but it's their money.

I really don't understand the price of land here - a buck a sq. ft. and up for a lot in a barrio! For that price you can find a lot in a fairly decent residential area in many parts of the US with paved streets, street lighting, and electric that almost never goes out.

 

[Expat13]

Most construction here is crap. You cannot compare these buildings built by fake engineers, Brain dead Maestros, and Haitian workers that have no clue on straight lines or finishing touches.

Here is a pic of a building that has just completed the exterior, look at the bumpy exterior walls? Example of block building like a child with a set of legos and a thin skim of plaster. These walls will be cracked before the first person moves in. The Dominican solution for this, is simple, new coat of paint to cover it every 6 mths to a year. You can all this and more for 6million plus pesos.

 

[PeterInBrat]

Yes but you can still build rentals with a good return on that price. I bought a casita last year for US $3500 and I'm renting it to an inlaw for $75/month, 600 sq ft casita on less than 800 sq ft lot. If you can build/buy at $20/sq ft and rent at 50¢ per ft, or build at $40 and rent for a buck, it's a good return.

 

[PeterInBrat]

The apt build behind us. Must be a three inch drop from one end of the building to the other. Four 500 sq ft shoe box apts and they'll prob build three levels high. Up to an inch and a half between runs.

 

[PeterInBrat]

The small $10,000 lot next to the Haitian shanty already sold and they have a crew digging the perimeter. I was talking to a local mason yesterday and he says he has more work than he can handle while complaining about how awful the Haitian work that's being done. He said he won't work with more than three other guys bc it gets too hard to maintain quality work. His work isn't great, but WAY better than the Haitian crews.

 

[cavok]

The small $10,000 lot next to the Haitian shanty already sold and they have a crew digging the perimeter. I was talking to a local mason yesterday and he says he has more work than he can handle while complaining about how awful the Haitian work that's being done. He said he won't work with more than three other guys bc it gets too hard to maintain quality work. His work isn't great, but WAY better than the Haitian crews.

$10,000 USD for a lot next to a Haitian shanty? Unbelievable! How many square feet?

 

[PeterInBrat]

Maybe 1200. I think it will be a commercial build.

The street was dirt two years ago, but they finished a new bridge last year and paved our street. The other bridge is a real pinch point for traffic so now we have several hundred cars more a day pass by during rush hours. If you live between the two bridges like we do, the new bridge is much faster.

I see lots of corner lots that have never been developed. One close to us is around 4,000 sq ft and he wants RD$2 million for it. He'll get it sooner or later, but the meantime he's growing platinos and yucca on it and prob getting less than $1000/year out of it.

 

[dv8]

1200 sq feet lot? for a commercial building? good lord, our living room is bigger than that.

 

[PeterInBrat]

You have a 25' x 48' living room?

The Chinese remodeled a supermarket just over the bridge last year for yet another mega 20 y 40 store. The market for cheap women's shoes seems to be bottomless. I wonder what will happen when they diversify their businesses.

 

[dv8]

1200 sq ft is only about 112 sq meters, so yeah.

 

[PeterInBrat]

I just talked to one of the guys on the site. I think he said it's going to be a short term warehouse. Maybe for receiving a container worth of products for local distribution. It's way out of square to fit the property line. Another place up the road is some kind of collection point for Presidente bottles. Five Haitian guys digging a trench for a week with shovels and mattocks. Beats having another bunch of shanties or shoebox apts.

 

[malko]

1200 sq ft is only about 112 sq meters, so yeah.

Lol !!!  Was just thinking there wasnt going to be much space left after you put up tne walls..... casa de enanitos, perhaps ?