Quote:
Originally Posted by Markp
I am also interested in Dominican Republic property.
Where do people suggest?
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I have been investing, developing, building on the North Coast of the Dominican Republic for 7 years.
Personally I like Sosua/Cabarete and Cabrera areas and own in these places.
Capital Gains have been GREAT and since it is the NUMBER 1 Tourist destination in the Caribbean rentals are solid.
I just sold a piece in October for 333,400 US dollars I paid 34,000 US for and put about 40k into infrastructure and landscaping. It was a 4-5 year hold.
This is still the least expensive, Democratic Caribbean country as far as real estate goes.
I purchased a piece in Haciendas El Choco also in October and am developing the site now. It is a gated project with the "Gentleman Farmer" in mind but is developing with nice homes that go to Mansions.
I have built about 1000' of Stone walls, Servants Quarter in construction and tons of plantings already.
This is the most UNDERPRICED undernoticed project I have seen and think there is a GREAT upside here. Search it on the internet. Good size parcels are selling from 14 m2 to 27 m2. The last property I sold was at 61 m2 in a similar project way inferior to this one yet less than a kilometer away.
This place is booming and I anticipate it will keep up for many years. Today most of the investors are European, Canadian and then US although the US is the closest.
If I can help with questions feel free to ask. I retired from the Real Estate business in the US 9 years ago and never thought I would even own a thing again but here life is easy and I have a full time maid for 120 US a month and a full time gardener for 180 US a month so I got back into the game.
This area has NEVER been hit with a Hurricane since they have been tracked as opposed to the rest of the country which was a major reason I am here.
Escott