According to Rodney R. Brito Santos, a specialist in real estate law & corporate business, the real estate market on the north coast of the Dominican Republic is currently on the rise.
- Thread starter Ken
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Real estate market is booming on the north coast
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This article isn't BS. It's actually quite true. Properties ranging from 60k to 800k plus are being sold weekly. I haven't seen this much movement in the 12 years of living here.
Higher end - Sea Horse Ranch - has been hot for a year or so
These may not be second homes... big exodus of people from NYC, BOS etc
to FLA and to here it seems
Toronto & Montreal have seen the same
These may not be second homes... big exodus of people from NYC, BOS etc
to FLA and to here it seems
Toronto & Montreal have seen the same
Indeed, my brother in law has around 16 appartements in Puerto Plata, all newly build, with swimming pool, etc, so not cheap to rent, but he has no problem filling them up for the moment. And they are building more. Now they are going to build new ones behind Montemar, with 3 swimming pools and restaurant and bar, etc. They are building new appartements all the time now.
What would a two bedroom apartment rent for Mik? Are they designed for expats or locals? Thank you.
Goh, I really don't remember. I have to ask them. But they rent mostly to tourists (for a couple weeks everytime). I know I was surprised how much they charge. I'll check it tomorrow (if I can contact him)
SOV (Sosua ocean village) is 99% sod out (I just bought a unit from a private property, so I know). SeaHorse Ranch besides nicer properties being sold (lots of junk here too) quickly (my brother has a home for sell there and he just doubled the price, really) there are 4 new constructions (including Lancers new home) which is unusual and a new ocean front home (4 lots, amazing place) had just been finished (20,0000 sq ft). Lions Gate has been sold to jefe of Dream City (its still in the works, jijiji, I see the plans monthly) but the best part now SeaHorse has bought all electric (like SOV) transport for maids and guards .....
Lions Gate in SeaHorse Ranch. He also (nope he hasn't run out of money yet, jijiji) a 10,000 sq ft remodel. Will be amazing, Lions Gate SeaHorse Ranch construction starts next week
Agreed on the current boom. We had only the occasional sale from a Russian building new homes for years.
Then recently, we had a renter who tried to purchase 5 different properties in our development and near us. She needed loan approval and lost out to Canadians paying cash after seeing pictures of the homes on the internet. She finally ended up buying a home from a friend of ours that he had tried to sell for about 8 years.
There is indeed a hot market in Cabarete. This is also consistent with what I have seen with more expats and fewer tourists over time here in Cabarete.
A few others are trying to sell without luck, but don't want to use realtors at all. That seems unwise since the Canadians are unable to find them on the Internet.
Then recently, we had a renter who tried to purchase 5 different properties in our development and near us. She needed loan approval and lost out to Canadians paying cash after seeing pictures of the homes on the internet. She finally ended up buying a home from a friend of ours that he had tried to sell for about 8 years.
There is indeed a hot market in Cabarete. This is also consistent with what I have seen with more expats and fewer tourists over time here in Cabarete.
A few others are trying to sell without luck, but don't want to use realtors at all. That seems unwise since the Canadians are unable to find them on the Internet.
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