Price/cost of M2 in Bergantín

pgolivares

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Does anyone know the ‘oficial’ rate that the Dominican central bank is paying landlord owners who have titles in Bergantín?
 

NALs

Economist by Profession
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The Central Bank isn’t the owner of Bergantín. It sold that land a long time ago.
 

pgolivares

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Apr 9, 2010
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That you for info that the central bank sold that land long time ago. I thought that the central bank was the one that was buying back the land and/ir setting the price.

Do you know how much is m2 being bought/sold at these days ?
 

NALs

Economist by Profession
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Banreservas is the owner now and the one financing its development. The CB has nothing to do with Bergantín unlike with Playa Dorada.

I don’t know for how much is the m2 going for or even if they are actually selling any land. Whatever the amount, if they are selling, most likely it’s subsidized by the government as Punta Bergantín has the direct support of Luis Abinader. He wants that to be a success yes or yes.

It’s similar to when the zona francas began to be developed, the government supported that as it was part of its development strategy. In that case land was sold in the new aona franca industrial parks (especially in those created by the government) and they were sold at very low prices to ensure local investor will invest in those industrial parks. It worked!
 

pgolivares

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Apr 9, 2010
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Thank you again NALs for the info.

The reason I’m asking about the price is not because I’m interested in buying but rather in selling and I want to make sure that I ask and/or ask a fair market value

Do you know if the banreservas has posted or has announced what they will pay for m2?

Apologies for the questions and round about.
 

JD Jones

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Didn't Vin Diesel buy up most of Bergantin for his movie studio?
 

pgolivares

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Hi JD Jones,

Vin Diesel probably bought most of Bergantín but not all of it. I know this for sure.

Would you happen to know what he paid for m2 ?
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
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Hi JD Jones,

Vin Diesel probably bought most of Bergantín but not all of it. I know this for sure.

Would you happen to know what he paid for m2 ?
I asked, but he wouldn't tell me.
 
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JD Jones

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I was just kidding, of course. But may I ask why you want to sell? I would think it would be worth a lot more in the immediate future.

I still regret selling my farm in Puerto Plata next to the Tourism port.
 

M4kintosh

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Santiago De Los Caballeros
Thank you again NALs for the info.

The reason I’m asking about the price is not because I’m interested in buying but rather in selling and I want to make sure that I ask and/or ask a fair market value

Do you know if the banreservas has posted or has announced what they will pay for m2?

Apologies for the questions and round about.
No public information so far on the m2. At the moment Fiduciaria Banreservas is giving priority now to big investors.
 

NALs

Economist by Profession
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Its not just Karima, they also reached a desl with Hyatt to build a resort similar to the one it has in Cap Cana and Meliá will build a Paradisus with the help of Grupo Puntacana (it should be remembered that Frank Rainieri originally is from Puerto Plata.)

With the Hyatt I think they are targetting the upmarket. It would be interesting if Punta Bergantín developed a highly luxurious boutique resort like Casa Colonial in Playa Dorada or Tortuga Bay in Puntacana.
 

JD Jones

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A word to the wise: If your property doesn't have a sturdy fence around it, now is the time to have one installed. Have various signs posted that have no trespassing and your phone number clearly visible.
 

pgolivares

Member
Apr 9, 2010
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Valuable information so far regarding the plans for punta bergantín and the fact that there is no public information so far on the m2. Thank you all.

To add to this conversation…

I’m a great-grand-son of the original owner of the land. My grandfather and siblings have a title for the land.

At the moment we are being offered $40 per m2 but some of my uncles and aunts are saying this is too low. Others are saying this is the price the ‘investors’ are paying, that we should take it or risk loosing it all if the ‘government’ takes possession of it.

Hence my question on the around the price of the m2. What’s the price the m2? Is $40 a fair price ? Can the government take the land, even though we have a title, and pay us whatever they see fit?

Thoughts?

Any guidance would be greatly appreciated.

BTW - the email to contacto@banreserva.com was returned as undeliverable.
 

pgolivares

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Apr 9, 2010
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I was just kidding, of course. But may I ask why you want to sell? I would think it would be worth a lot more in the immediate future.

I still regret selling my farm in Puerto Plata next to the Tourism port.
What did you sell at and when did you sell ?
 

JD Jones

Moderator:North Coast,Santo Domingo,SW Coast,Covid
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What did you sell at and when did you sell ?
Some observations:

I don't think there is land available anywhere in this country for 40 dollars a meter. Sounds low to me too.

Yes, the govt. takes properties under imminent domain. It's a fact of life everywhere. If your land is in the middle of Vin Diesel's development it could happen to you. It's impossible to say at this point.

I sold my farm with 30 tareas of land with 100+ fruit trees and a restored two-story home with a 3-car garage back in 2002 so what I got for it is not relevant.
 

pgolivares

Member
Apr 9, 2010
244
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Thank you JD this is really good information. just as I thought, $40 m2 sounds too low and that the govt could in fact take the land under imminent domain (the land is that close to the big project where they could).

Q - is there an oficial site, agency or document that you know of that lists the price of the m2 in punta bergantín that we could make reference to when negotiating?

Believe me when I tell you, I trust you and know that $40 is way too low but I don’t have anything besides our words that $40 is too low. I need something besides our word in order to negotiate.

Can you or anyone on this forum help me?

You’re right what you got for your land is irrelevant, I was asking to sort of get a point of reference.

Thanks again for your help and invaluable information.
 
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ando1991

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Dec 5, 2016
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$40 is low. They will resell it for at least $150 m2 if they put villas there. Bergantin will be pricey like Playa Dorada. M2 are going from 130 to 165 in the area. Playa Dorada is probably higher. Cupey is high also and not that close to the beach. Remember, bergantin is beach property or extremely close to the beach
 
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