Your only choices if you want gated are Haciendas El Choco, Sea Horse Ranch and Perla Marina.
- Thread starter Expat13
- Start date
Sosua Real Estate
If i were to buy something today, i would choose Cabarete. It seems that is a place where you can get some "tourist rate" rental income if you have a good location.
Now gentlemen, easy eeeeeasy i know i said cabarete instead for sosua, - Listen, i do not want to see 250 300 burning torches outside my mosquito infested woodshack later this evening just for taking side with "Frank12 The insane", and the rest of these young and hip expats living a windy life over there in the breeze.
It will most likely be a long time until the next time i will choose cabarete instead for my little hellhole. But once in a while cant hurt.
Now gentlemen, easy eeeeeasy i know i said cabarete instead for sosua, - Listen, i do not want to see 250 300 burning torches outside my mosquito infested woodshack later this evening just for taking side with "Frank12 The insane", and the rest of these young and hip expats living a windy life over there in the breeze.
It will most likely be a long time until the next time i will choose cabarete instead for my little hellhole. But once in a while cant hurt.
ROFL. If I came here now and wanted to buy land and house. Jarabacoa area.
Sorry OP. Main lot size is about right but my house is a little large for you. I do have a couple of other lots and a package deal can be done for around 3.5. That's U.S. $. Not bad for a "farm boy". OH... horses not included.
OK.... dang! You beat me up. 2.5 and that's my lowest price.
I will let my wife to give you some insights as she is a local real estate agent in Raleigh NC.
She is here in DR1 as "Tropical".
JJ
I appreciate all the responses but one part which was my main interest has only been touched on. I am trying to get a feel from the experienced ones what the future holds for the Real Estate market in Sosoa. Obviously I know real estate is local and it depends on where and what you buy, but still the overall feel. I ask because I read a lot about Sosua and possible changes that may effect tourism. Also crime stories in gated communities so are these anomalies or is Sosua a bad bet? Yes I know Cabarete may be a stronger market being less product available, I get that!
Thanks again!
Thanks again!
If your looking for a villa look in Hispaniola, not far from downtown. I am not sure on the title situations or if you can find your lot size. Casa Linda is growning and you might be able to find the size you like. But you will be farther from town. Imho they are the two best gated communities in Sosua. Btw I have no vested interest in realestate.
I like Casa Linda and there is a lot of construction taking place there now. Large community of expats especially from Canada and the US.
A little bug whispered softly in my ear that Casa Linda is starting to have some Scandinavian Home owners. So if anyone wants to live close to expats from these countries, then you now know were there are some.
No Frank, you have to stay away.
No Frank, you have to stay away.
I saw a post earlier that referenced a site called blue cove realty. I think it got deleted maybe for spamm. Anyway the site made an interesting statement that I do not believe is correct. " A benefit of living in the DR is No Real Estate Taxes!'
I hear this now and again and I think its somewhat misleading as I believe is only the case on properties the Government?!? feels is valued below 6.5 million dop, and even so I believe you pay the 2-3?% transfer tax. If a foreign Corp buys it falls under the 1% asset value which will also be pain annually so to say "No taxes in DR on Real Estate is very misleading"
I hear this now and again and I think its somewhat misleading as I believe is only the case on properties the Government?!? feels is valued below 6.5 million dop, and even so I believe you pay the 2-3?% transfer tax. If a foreign Corp buys it falls under the 1% asset value which will also be pain annually so to say "No taxes in DR on Real Estate is very misleading"
ok, let me start that i have zero interest in real estate market. granted, my BIL is a real estate agent on the NC and i can put you in touch with him if you want a scoop on what's what. he is dominican, speaks great english and travels to SD frequently. but i have no clue what properties he has nor do i have any myself.
i've been to DR for 7 years. in this time i have seen lots of movement in terms of new investments on the NC. they are clearer to see in cabaret area due to the specific setup: ocean front is fairly narrow and one can clearly see new constructions going on along the road. there is also lots of work going on in sosua. i know people who invested in condos both in cabarete and sosua and they purchased apartments worth 300-400k dollars. each.
at the same time i have also seen decline in some older projects. it seems like there were many investments in the past that did not work out all that well. maybe financing, maybe an issue of a dirty money, maybe political, i do not know. real shame.
i've been to DR for 7 years. in this time i have seen lots of movement in terms of new investments on the NC. they are clearer to see in cabaret area due to the specific setup: ocean front is fairly narrow and one can clearly see new constructions going on along the road. there is also lots of work going on in sosua. i know people who invested in condos both in cabarete and sosua and they purchased apartments worth 300-400k dollars. each.
at the same time i have also seen decline in some older projects. it seems like there were many investments in the past that did not work out all that well. maybe financing, maybe an issue of a dirty money, maybe political, i do not know. real shame.
Waynne, Expat13 ,
I find your comments Waynne, about Sea Horse Ranch and Perla Marina interesting but somewhat misleading. The lowest price I have seen for a fully functioning house in SHR is about USD 650K but that needs updating. The HMA fees there are quite high - around USD $690 per month and they have just made a major change in thier water supply and I am not sure who will pay for that!!! You really need to consider USD 750 K upwards for SHA. On Perla Marina, most of the low hanging fruit has gone. A house sold recently at USD169 K but it needed completely remodelling at considerable cost. The average of four recently sold homes in Perla Marina development is about USD 320 K excluding condos! Most of the cheaper ones needed considerable remodeling and at a cost of about USD 50 to 100K.
As someone else said Expat13, you have to go to Haciendas El Choco, Sea Hourse Ranch or Perla Marina if you want to have a large lot in a gated community. Hispaniola Residencial is relatively small lots but a nice development and has some room for expansion.
Just as a disclaimer, I am not in Real Estate, do not have lots for sale like Ringo, but do keep track of happening around Sosua.
I wish you luck !
Olly
I find your comments Waynne, about Sea Horse Ranch and Perla Marina interesting but somewhat misleading. The lowest price I have seen for a fully functioning house in SHR is about USD 650K but that needs updating. The HMA fees there are quite high - around USD $690 per month and they have just made a major change in thier water supply and I am not sure who will pay for that!!! You really need to consider USD 750 K upwards for SHA. On Perla Marina, most of the low hanging fruit has gone. A house sold recently at USD169 K but it needed completely remodelling at considerable cost. The average of four recently sold homes in Perla Marina development is about USD 320 K excluding condos! Most of the cheaper ones needed considerable remodeling and at a cost of about USD 50 to 100K.
As someone else said Expat13, you have to go to Haciendas El Choco, Sea Hourse Ranch or Perla Marina if you want to have a large lot in a gated community. Hispaniola Residencial is relatively small lots but a nice development and has some room for expansion.
Just as a disclaimer, I am not in Real Estate, do not have lots for sale like Ringo, but do keep track of happening around Sosua.
I wish you luck !
Olly
Olly, I'm not sure how you find my post misleading as I only posted factual information, whether the homes need improvements has no relevance to the information I posted. I'm not a real estate agent and am not trying to sell anything to Expat13, only supplying helpful information.
The key is to come, talk to people in the know on the North Coast- not realtors with a financial interest- and look, look, look. About 1 1/2 years ago I sold my Perla Marina property, not losing one peso after buying it in the peak of the real estate market. It was located in the middle of the project, away from the fincas which entice intruders, included 2.5 lots, and was decorated and kept up to American standards. It included a guest house and a work casita. It sold for $430,000, with reduced realtor commission, paid in part by the buyer. It was a cash sale.
The best advise for anyone, prior to purchasing anything in this country is to make friends and speak with those in the area where you want to buy. Make sure those individuals have no business interest, yet are in the same socio economic group that you are. Make certain that they have lived here at least 5 years and have established roots in the community. Ask to meet their social group to know whether they are your kind of people and you can trust their advice.
I would never take anyone's advice on a forum, including mine. Follow my advice, though, and you will be fine.
For me, when I sold my property to buy a condo, I looked at every single condo development on the North Coast before deciding. Even though I had lived here 6 years at that point, I didn't take anyone's recommendations but my own.
Good luck. Choose wisely.
Lindsey
The best advise for anyone, prior to purchasing anything in this country is to make friends and speak with those in the area where you want to buy. Make sure those individuals have no business interest, yet are in the same socio economic group that you are. Make certain that they have lived here at least 5 years and have established roots in the community. Ask to meet their social group to know whether they are your kind of people and you can trust their advice.
I would never take anyone's advice on a forum, including mine. Follow my advice, though, and you will be fine.
For me, when I sold my property to buy a condo, I looked at every single condo development on the North Coast before deciding. Even though I had lived here 6 years at that point, I didn't take anyone's recommendations but my own.
Good luck. Choose wisely.
Lindsey
Yes, great info Lindsey. Question for those who know?!
What is the average price per square meter for a finished nicely manicured lot which has a high concrete(brick) security wall around it. This is in the Camino del Libre area up the hill about half way. Same question (sq meter $) as far as price for a 2-5 year old construction in same area. Thx.
What is the average price per square meter for a finished nicely manicured lot which has a high concrete(brick) security wall around it. This is in the Camino del Libre area up the hill about half way. Same question (sq meter $) as far as price for a 2-5 year old construction in same area. Thx.