Las Terrenas/Real Estate

[aarhus]

I was just in Las Terrenas. Partly for a weekend trip and partly to look for land for a client. I think Las Terrenas is becoming a very interesting area of the Dominican Republic. It is a kind of unique because of the strong French/Italian influence. It is like a mix of Southern Europe and the Spanish Caribbean. I was also there some years ago. And since that they have paved a lot of the roads and for instance along the Hotels on Playa Bonita you can walk on a path they have paved nicely between the Hotels and the beach. Land has become expensive up there and you see a lot of new luxury projects. The prices could fall somewhat because of the financial crisis and I think there are some deals out there right now. Las Terrenas I think will become a hot spot the years to come. The second phase of the new road up to Las Terrenas is under construction. From I could see it does not have far to go to be finished. So when the infrastructure is complete I believe Las Terrenas will be flooded with visitors from the Capital and North America.

What is the general opinion on this board regarding the development in Las Terrenas and real estate up there?

 

[Africaida]

I would love to hear from an expert.

I was looking at places last time I was there, but, for some reasons, it didn't feel right. I have seen the same villas and apartments for sale over a year and so many are trying to sell, so I don't know.

RE agents are promising that you can easily rent; yet, on both occasions I went, I rented places for a fraction of the price the owner initially offered, so they seemed rather desperate.

 

[ratbastard]

congestion anyone?

I was just in Las Terrenas. Partly for a weekend trip and partly to look for land for a client. I think Las Terrenas is becoming a very interesting area of the Dominican Republic. It is a kind of unique because of the strong French/Italian influence. It is like a mix of Southern Europe and the Spanish Caribbean. I was also there some years ago. And since that they have paved a lot of the roads and for instance along the Hotels on Playa Bonita you can walk on a path they have paved nicely between the Hotels and the beach. Land has become expensive up there and you see a lot of new luxury projects. The prices could fall somewhat because of the financial crisis and I think there are some deals out there right now. Las Terrenas I think will become a hot spot the years to come. The second phase of the new road up to Las Terrenas is under construction. From I could see it does not have far to go to be finished. So when the infrastructure is complete I believe Las Terrenas will be flooded with visitors from the Capital and North America.

What do you feel will happen re traffic congestion within the village? Village has a haphazard array of streets that spin off what is essentially a central, one-way-only, figure-8.

I realize the main road in/out of town will be/has been improved and will (then) by-pass the figure-8, but as it stands all it takes to bank traffic for a 1/2 mile is a tour bus that can't quite pass a parked car. Tourists will not think it Paradise when stalled for 30 mins in heat, 2-stroke fumes, traffic.

Does the local admin have the willpower/$ to demolish central properties to improve core infrastructure? The problem compounds the longer it is ignored. Then comes the issue of parking.

Agree there appears to be a great blend of people attracted to LT. Is perhaps just the right distance from El Catey.

 

[aarhus]

Rental Property

I would love to hear from an expert.

I was looking at places last time I was there, but, for some reasons, it didn't feel right. I have seen the same villas and apartments for sale over a year and so many are trying to sell, so I don't know.

RE agents are promising that you can easily rent; yet, on both occasions I went, I rented places for a fraction of the price the owner initially offered, so they seemed rather desperate.

I agree. It is hard to base your investment on renting out the property. Only if you are really active all the time. Promoting it with a website via other real estate websites. For instance here on dr1.com. Robert has mentioned that a few times on threads here. You should invest then instead based on you using it most of or part of the year and that you long term expect the real estate in LT to increase in value. Then any rental income is just extra.

 

[Africaida]

Great point Ratbastard !

 

[Africaida]

You should invest then instead based on you using it most of or part of the year and that you long term expect the real estate in LT to increase in value. Then any rental income is just extra.

That is why I didn't feel like it would be a sound investment, if I was to be there 2 months/year. If you add up the upkeep of the house/apartment, is it really worth it ?

Plus, I am nowhere near retirement and I have no desire to live in LT at the moment, just love it as an awesome vacation spot a couple hours away from NYC. I thought it would be a lot of headaches for nothing, although some prices were really tempting....

I was also told that many properties don't age well, so I am not sure that it will be worth more 10-15 years from now...

 

[aarhus]

Value of Property

That is why I didn't feel like it would be a sound investment, if I was to be there 2 months/year. If you add up the upkeep of the house/apartment, is it really worth it ?

Plus, I am nowhere near retirement and I have no desire to live in LT at the moment, just love it as an awesome vacation spot a couple hours away from NYC. I thought it would be a lot of headaches for nothing, although some prices were really tempting....

I was also told that many properties don't age well, so I am not sure that it will be worth more 10-15 years from now...

Near the water maybe the properties dont age well. Could be that it is better a bit further away from the beach or in the hills. I am not sure. I am not an expert on construction. But as you say some prices are tempting now. Maybe more difficult in 10-15 years from now. I really do think it is a unique area. And it is not really that big. Not like Bavaro/Punta Cana. In LT there is a limit to the growth.

 

[Richard Alberto]

Hello All,

I just came back from a extensive trip of which Las Terrenas was one of the areas I visited. I went to Higuey (La Romana, San Pedro), Barahona, Pedernales, Santo Domingo.

The place was pretty full; the restaurants, the one disco, and the town was very active. It has a very low noise volume as compared to other locals and I also atribute the one way access point to help in keeping the amount of traffic to a minimum, thus reducing the noise impact. In my opinion they should keep it this way.

The ambiance was very nice, quaint shops, lots of places to eat and great beaches. I like it much more than Cabarate, as this is the one place I would most compare it to.
I found it clean and well managed.

I met with the owner of the future Jardines De Coson and there is a planned boulevard which would wrap along the Samana pennisula. There is already construction of a new road from the Cayey Airport which would be a 15 minute drive to LT.

All in all, it is a work in progress but much has already been accomplished, if there is a location where comparable property values will go up faster, this is it.

 

[Africaida]

July and August are probably their highest season since the majority of tourists are Europeans.
I was there for a month in January and the town wasn't full except for a holiday weekend when it was full with Dominican tourists.
LT has that "undiscovered" feel (I am French, so to me, it's not).

 

[Richard Alberto]

I still believe that of all the towns I've visited, LT has the best potential since it has not "peaked" as has Puerto Plata. which has seen better days. The Higuey region with Punta Cana and La Romana have few bargains remaining, Barahona and the SW is, in my opinion, still quite a bit away from expansionso to answer this post, I believe good bargains can be found in LT.

, so

 

[aarhus]

I still believe that of all the towns I've visited, LT has the best potential since it has not "peaked" as has Puerto Plata. which has seen better days. The Higuey region with Punta Cana and La Romana have few bargains remaining, Barahona and the SW is, in my opinion, still quite a bit away from expansionso to answer this post, I believe good bargains can be found in LT.

, so

I think LT is a niche area. Unique. Maybe Bayahibe has a bit of the same. I dont think it can compare to Punta Cana which is a huge area with volume tourism and huge real estate projects. Nor can it be compared to Puerto Plata. Of course real estate goes up and down everywhere. But I think in LT there is a good chance it will be stable. Difficult to talk about a time for it to peak. As I dont think it will experience over development. It seems better organized somehow.

 

[RonS]

In LT there is a limit to the growth.

And therein lies a big problem; no limit to the growth, and no apparent overall planning for it. Can someone speak to infrastructure? Besides the building of roads, how about water and sewer, electric and power grid, and other urban planning issues?

I think LT is a wonderful village with some of the most beautiful beaches in the country. I just wonder if all this development is sustainable and if it will be profitable, in the long term, for those who own property.

 

[Tonydomrep]

Small update from Samana:

-the road between Sanchez and Las Terrenas, which was in really very bad condition, is upgraded to a very acceptable level now. And they are still working on the road.
-the new highway between El Catey and Las Terrenas is in full progress and should be open in 6 month.
-the new aquaduct in Samana is working in most parts from the province. When totally done it is one of the first in its kind in the DR that delivers drinking quality.
-they are improving the road from El Limon to playa Moron.
-most of the asfalted roads in Samana are now in top condition. Road to Las Galeras looks like a highway. Several parts are not done yet but working everywhere.
-Samana city had a large clean up
-several roads inside Las Terrenas are asfalthed in the last several month. Road to Playa Bonita for example is almost done to the end.
-the new boulevards in Playa Las Ballenas and Playa Bonita are almost done. This boulevard is also a protection system for the beaches
-in full construction a new glasfibre system in Samana which will bring internet in speeds from 20mb
-cellular connection improved by putting more antennes in the area

 

[cobraboy]

Small update from Samana:

-the road between Sanchez and Las Terrenas, which was in really very bad condition, is upgraded to a very acceptable level now. And they are still working on the road.

What has been done to it? New asphalt? How about new guardrails? Is large commercial traffic allowed to use it? What else needs to be done and where is the work needed?

Last time I rode that road it was majorly horrid, about as bad as a road could get. I thought I bent a rim on a pothole.

-the new highway between El Catey and Las Terrenas is in full progress and should be open in 6 month.

Is any of that road finished? Are there any photos of the route and what's been done to date?

-most of the asfalted roads in Samana are now in top condition. Road to Las Galeras looks like a highway. Several parts are not done yet but working everywhere.

I concur. The new road out of Samana to LG is outstanding, wide, nice crown, great asphalt and excellent drainage.

Ant news on when construction of new road going to Rincon will start? That thing is terrible. It seems there isn't any more aquaduct work going on.

Thanks for the update!

 

[aarhus]

I was recently in Las Galleras and was very impressed by the new road from Samana to Las Galleras.

 

[Tonydomrep]

It was in very bad shape. They put on many parts a first layer of new asfalt there, between las terrenas and sanchez. Ecerything is in cobstruction. But i can say, first it took you 35 minutes to cross the moubtain because of the bad condition and now in 50% of the time. Still no rails and no large trucks.
This road will be used for local traffic when the new highway is done between airport el catey and las terrenas. This will be one of the most spectacukar roads ob the island. Spectacular views. Same type of road as the highway between santo domingo and samana. Also a toll road. Road is alnost ready to be asfalted. Private company is doung the work. When done in 10 minutes from el catey to las terrenas. Over a safe and good road.
Aquaduct work is done.the tubes ecerywhere. And all connections almost done. Even playa el valle has water.

 

[cobraboy]

It was in very bad shape. They put on many parts a first layer of new asfalt there, between las terrenas and sanchez. Ecerything is in cobstruction. But i can say, first it took you 35 minutes to cross the moubtain because of the bad condition and now in 50% of the time. Still no rails and no large trucks.
This road will be used for local traffic when the new highway is done between airport el catey and las terrenas. This will be one of the most spectacukar roads ob the island. Spectacular views.

I agree. It is spectacular! Especially by motersickel! We stopped using it on tours because of the terrible condition. But if it's fixed, we'll be on it again!

 

[Tonydomrep]

Better roads in samana

By motor no problem. But the new highway from el catey to las terrenas. That one will be spectacular. I was there last week by car. Increadable views. You really feel yourself king on top of the mountains. When you enter las terrenas you will see frm playa coson all to cabo cabron!!!
At this moment i am eating in las galeras on a cliff. Also very spectacular.

 

[Gordon]

all the locals need now is the new Sirena. but stop telling everyone how awesome LT is and the impressive new changes and the downtown traffic will remain bearable.

 

[Tonydomrep]

i am just telling facts, nothing less and nothing more. Talking about new infrastructure that is going on. Not about any Sirena and about needs.
Downtown traffic will get better when the new road from El Catey to El Limon is done. And many streets are asfalthed the last years inside LT.