- Thread starter jusboy
- Start date
Undeveloped area waterfront lots?
I fully agree......Same as buying a lottery ticket.....There much safer and more forseeable forms of investing your money....
You'd take less risk buying on the north coast(Cabarete), which has already had a boom/bust. You can get into turnkey rentals pretty easily and start developing passive income and equity. Lots of prior buyers wanting out. Other than that, maybe near Cabrera or Gasper Hernandez.
Real estate is great where I live near Higüey and construction is booming, but it's not near the coast. Many shanties are being replaced with apt buildings and high end homes.
Real estate is great where I live near Higüey and construction is booming, but it's not near the coast. Many shanties are being replaced with apt buildings and high end homes.
I would tend to agree about the Luperon area. I must confess that I have lived here for 10 years! (El Castillo 20 min west of Luperon). From Punta Rucia all the way along the coast to Luperon is becoming more and more attractive IMO, and changes have been happening…although very slowly. As a kind of funny example, 10 years ago looking west from my house on La Isabella harbor, I could see ONE light at night in the area of Estero Hondo (near Punta Rucia). Today I see 16 lights! OMG…that’s like 1.6 lights a year! There is still a plan in place to replace (or repair??) the “never finished bridge” that connects El Castillo and Via Isabella. I had mixed feelings about fixing the bridge at first, but today I am on board as the locals here want it badly. It will happen….the question is when! There are plans in the works right now to move the Columbus settlement Museum to the 1st church property. (actually 2nd church but whos counting)? The plan include a restaurant at the existing settlement building location.
I understand that there is still a plan in the works for the “Punta Alma” project around Luperon harbor. (Search YouTube for and excellent video). This is not that same as the “Atlanico project” which is long gone. As rumors go around here, last I “heard” was that Lifestyles is going to move forward with the project. We will see. Lots of really nice ideas have come and gone around here!
We love to visit Punta Rucia and Ensenada Playa….except on the weekends. I know folks who have bought property out that way, and some of the stories have not been good. Some have been good. As in other places here, one has to be careful and separate the fact from the fiction. Some folks have found it impossible to buy and develop over there because of the local politico, cronies etc. Also remember that if you purchase property on any coast land around the island, you cannot build within 60 meters of the water (at high tide?). You can do it if you are “very well connected” and get all the approvals…..more than likely you can’t and neither can I. We were “fortunate” to have purchased an excising “shell of a house” in paradise that is 100% inside the 60 meter rule, right on the water, and were grandfathered in. Like I said…we were fortunate and every single “improvement” we do has to be approved or done in the dark of night!!! I can say that this area a great! Good locals….great communities….and no trouble to speak of! Good Luck!!!
I understand that there is still a plan in the works for the “Punta Alma” project around Luperon harbor. (Search YouTube for and excellent video). This is not that same as the “Atlanico project” which is long gone. As rumors go around here, last I “heard” was that Lifestyles is going to move forward with the project. We will see. Lots of really nice ideas have come and gone around here!
We love to visit Punta Rucia and Ensenada Playa….except on the weekends. I know folks who have bought property out that way, and some of the stories have not been good. Some have been good. As in other places here, one has to be careful and separate the fact from the fiction. Some folks have found it impossible to buy and develop over there because of the local politico, cronies etc. Also remember that if you purchase property on any coast land around the island, you cannot build within 60 meters of the water (at high tide?). You can do it if you are “very well connected” and get all the approvals…..more than likely you can’t and neither can I. We were “fortunate” to have purchased an excising “shell of a house” in paradise that is 100% inside the 60 meter rule, right on the water, and were grandfathered in. Like I said…we were fortunate and every single “improvement” we do has to be approved or done in the dark of night!!! I can say that this area a great! Good locals….great communities….and no trouble to speak of! Good Luck!!!