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Originally Posted by twhitehead
Thank you Rocky, Tom and Larry for this information, it is very much appreciated. Do you feel that the boom on the North Coast will be limited to Sosua/Cabarete area? Or will it spread further east as this area becomes expensive?
Got an answer to my other question ref Allegro Playa Grande being closed again. Why is this resort not booming with its wonderful golf course and gorgeous beach????
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Although I am not a duffer I am going by what friends have told me. Playa Grande is in pretty bad shape and needs lots of work. It is also far from the Airport and not 8 minutes away like Sosua is. I think prices will be on the upswing along the whole north coast with most and fastest appreciation closest to the airport but spreading east and west.
I think the prices firmed up in March of 03 and started hitting hard by June and rising ever since almost on a daily basis. I hear about new deals just about every week in the 12-15 million dollar range and see so much construction it feels like it has boom writen all over it. I havent seen anything this exciting since the early 80's in NY State in regards to appreciation of real estate. We are in my opinion in the early stages of an up cycle.
I say this as a buyer and not a seller trying to buy at the same levels I was buying at in 03' which is not possible although I still try hard to.
I retired from the Real Estate business after 30 years in NY State 70 miles North of NYC in the New Paltz/Woodstock part of the state. After 9-11 things started exploding in NY real estate market and other markets as people were seeking a safe haven and a place to escape to.
I never planned on doing anything with real estate again but the opportunity just drove me nuts and it has paid off.
I hope this helps you but this is just my 1 peso.