When blows out the "Condominium-bubble" in the area of Cabarete ?

[PabloPaul]

Hey, this is great for people like me. I'll just wait for the prices to come down and take my opportunity. Cabarete nice....Sosua forget it. Unless you're an old single man, why would you want to live in a whorehouse?
Take my advice and take Samana.
PP

 

[DavidZ]

Would I buy more on the North Coast? NO. I'm selling now. Do I think prices will go up? YES; but only after some things are cleaned up, and others expanded.

What are the things you are waiting for to be expanded and/or cleaned up? I'm assuming the main road and parking...?

 

[Luperon]

Go West Young Man - location, location, location

I think the further west one goes on the north coast, the better the hurricane protection. I wonder what would happen to prices on the east coast or Samana if there were a major destructive storm there.

 

[santosc]

Where advise

Hi to you all,

Making use of all of your expertise and advise we have just returned from the Dominican Republic and it was our first visit. We loved the country and thought maybe it may be worth investing in a house or condo (north coast) but of course before anyone freaks out on me...it is simply a thought at the moment and if we are still interested next year then we will investigate further on our next trip. By the way we are both fluent spanish speakers (im portuguese my partner is spanish) so i think that we stand a good chance of integrating, not only that but we would not move out there until many years to come, simply a holiday home you can call it adn somewhere for our family to use too.

Are there are areas you recommend in terms of not only holiday destination but also investment for the future?

Many thanks!

 

[PabloPaul]

I think it may be true that a major storm could be quite destructive to some parts of Samana, but don't forget there is a lot of high ground there as well as the coast which has many cliffs and bluffs. Choosing your location wisely is def. important, especially since beaches are a living organism that moves and shifts everday, storm or no storm. I agree though... the further West you are the better the chance of being missed by a hurricane (to a certain degree anyway). Good luck!
: p.

 

[financial analyst]

Ringo you are right, it is now better to sell and I think also it is better to leave the country because it is now to dangerous and to expensive (in the relation what you pay and what you get for your money)!

The electricity supply (6-10 hours a day nothing), the streets, the police, the law-system, the corruption and so on are as bad as 10 years ago. The criminal gets higher. Only the possibility of shopping are better than before.

If you realy plan to come here you have to realise that many things are much more different than in a civiliced country. The best thing is to rent something and live the normal life for at least 1 or 2 years and then decide. And one of the most important things is, learn Spanish as good as you can at home.

 

[senorblanco]

Good point I am often amazed that people invest here. I am invested and have been living here for over 1 1/2 years and have likewise heard ,seen and been part of endless day to day corruption and crime. The police do not exist unless you pay them or unless they make you pay them. Tourists constantly get forced to pay enormous amounts of money when they themselves are the victims, the lawlessness, the lack of stability and electricity and the list goes on. And yet Eropean and american invetors continue pouring millions into Cabarete. Perhaps the lawlessness saves them millions in normal costs and payoffs and the problems with infrastructure and gov't are reasons they do invest knowing that htese wil be things of the past in 10 or 15 years and then their returns will be out of this world

 

[Sharlene]

La Mulata further info please....

With regard to the original subject of this thread, I spoke to a friend who works for Century 21 the other day and he's been doing very well. He did say that everybody seems to want to buy beachfront.....

 

[Chris]

People, this thread is not for telling crime stories or reporting crimes. Any further crime only posts will be deleted. You will find many posts edited.

 

[wayne]

People, this thread is not for telling crime stories or reporting crimes. Any further crime only posts will be deleted. You will find many posts edited.

No disrespect to you Chris, but I think issues of crime and any other factor that will impact the market are relivent to this topic. Potential investors or people relocating have to know what really happens in an area to make an informed decision. The only way to get the truth is from reports of people who live in the area. I wouldn't discourage anyone from posting true events that may aid in the decision process.

 

[Chris]

No disrespect to you Chris, but I think issues of crime and any other factor that will impact the market are relivent to this topic. Potential investors or people relocating have to know what really happens in an area to make an informed decision. The only way to get the truth is from reports of people who live in the area. I wouldn't discourage anyone from posting true events that may aid in the decision process.

Simple Wayne, don't hijack threads with crime only stories here. Read the posts from Senorblanco and Financial Analyst. I don't have a problem with anyone pointing out a high crime area, or cautioning someone else about crime in a neighborhood - and I've done this myself.

You have no idea how quickly threads get hijacked here. On this one, we're talking about the Cabarete area 'condominium bubble'. Crime is one factor.

Carry on!

 

[liam1]

Cabarete RE market is a real mystery to me! if you really look at Cabarete it's nothing more than a one horse town with a GREAT beach. where is the hospital, fire station, super-market... where is anything other than the beach and the crippling traffic. someone said kite-surfing is an expensive sport and those people going to Cabarete are younger well-off crowd. i wouldn't say so. most of the younger visitors to Cabarete don't buy any real estate, stay in average hotels and rent the surfing equipment they use. how often you see a young surfer driving a new SUV with a surf-board on the roof and how often you see them on a moto-choncho caring the board under their arms? who's paying 200K USD for a 2 bedroom in Cabarete? no se.

 

[financial analyst]

I`m sorry Chris, I can`t see that my 2 example of crime are an sign of hijacking this Thread. If somebody write something then its better he can adduce what he writes, so I gave 2 examples from what I absolutely shure know that they are true.

What are the main things of these bubble? It?s the price (in relation of the hole things which have an influence of that) and the number of condos. And one thing is absoluty shure that the saveness of an area has a great impact on the price, especially here.

So I really can`t understand why you delete these 2 examples of crime in my last post!

 

[liam1]

and to add to my previous post...

the baby-boomers? don't retirees usually look for peace and quiet? and Cabarete is anything but! during the day, with all the people and the traffic, it's worse than Manhattan. the nights are quiet, i guess people looking for night life go to Sosua, but on the other hand, tell me of one nice, up-scale restaurant where a retired couple could go for a nice quiet dinner, not to mention to catch a movie, or bowling, or whatever it is retired people do to keep themselves occupied.

Cabarete would be for someone like myself, in mid 20s looking to live the beach-bum lifestyle for a while, but how many people in that age range can drop 200K cash for a condo, and then afford to just chill out and do nothing?

i hope the bubble (if there is one) will burst soon, coz i don't want to spend another winter in Canada.

 

[financial analyst]

big Condo-projekt near Sea Horse Ranch?

Yesterday I heart that russians plan in the near of Sea Horse Ranch to built around 3000 Condos. If that Infos is true that will be the collaps of the Condos-market, than the Investors can really feed the pigs with there Condos.

 

[Tamborista]

Yesterday I heart that russians plan in the near of Sea Horse Ranch to built around 3000 Condos. If that Infos is true that will be the collaps of the Condos-market, than the Investors can really feed the pigs with there Condos.

You are getting your news Mister Financial Analyst about 6 months late.

tam'

 

[batich]

Recently investing in RE in DR has been a popular thing among new riches of one East Europe country. A year ago of each ten prospective buyers who arrived on Condor, five bought. In last two months of eleven people who came here to me to see the market only one is considering buying in Sosnovka. Others were shocked with current RE prices in Sosua/Cabarete and returned home. This is a cold fact. Weather we like it or not.

 

[financial analyst]

batich what is Sosnovka?

One thing I cant understand: They built Condos,Condos,Condos....in the area of Cabarete , but what the market realy needs, for example a good+big supermarket builts nobody. Where should all the buyers of the luxury Condos go shopping? at Janet`s supermarket???

 

[gary short]

Is Sosnovka beside Cabaretniev????????

 

[Otter]

Just a flicker

Ah, my good man. Perhaps a flicker in the wind, but not blowing out. This is the way it goes. People have been talking about the Dominican quite a bit in the past few years and this rang Pavlov's investor bell. All came to jump in, but found that the $100K deal on the beach was gone. They went back to Slovrtusked??? to figure out where they could make their million. After a good look around they realized that the beachfront condo they looked at in the DR was actually a great deal. By the time they ran back to purchase, prices had gone up another 50K. There is only so much oceanfront and people want to be on it, even if they may lose it in a hurricane/tidal wave or going insane from the view. Do not try to time the RE market on the beach. Just get in. If your looking at property off the beach, sure sit tight and wait for the right deal. The candle is only flickering, not blowing out.