Best value Beach Front Lots ?

[danely]

I'm looking for knowledgable input on where the "best value for money" beach front lot, 1,000 square meters to 4,000 sm (or modest size 1-3 bedroom bungalow/apartment) in Punta Cana area, or anywhere on north coast would be ?

Also, what sorts of price ranges might you expect to pay ?
Where do you start the first offer on prperty, related to the asking price on internet real estae sites such as the big American realtors ? Start with 50% for a cash offer ???

Obs: It seems to me for example, that Remax thinks they're selling art deco South Beach, Miami properties, judging by their prices. Seems crazy, while some others seem a bit more realistic.

All advice appreciated !

[Ken]

You are too late for the good deals in ocean front property in the tourist areas, at least on the north coast. And prices are going up because Americans are buying now. Chances are, any property you are interested in is owned by a foreigner, not a Dominican, and prices will be in dollars, not pesos.

[Escott]

While what Ken says is correct in a few years I believe your price will be consiedered a low price even if it is high by todays standards.

I still believe that while prices have been on an upswing we are still at the bottom of a cycle that can last 5 years longer.

My uno peso.

Scott

[Miko]

that the prices have increased by 20-35% in the last year. And now there is that 18 units condo project in town (Cabarete Palace) going up with prices from 350K to 520K and the top floor, most expensive units are almost all sold (one unit left on their web site)!!Kite beach had a 9 units condo going up (from the guys of Velero) at starting price 300K, was told all sold. Then again, Cabarete has always been in higher demand than any other town on the north coast. Where is this diamond going to be in 5 years? You will not be able to find a beachfront for less than 350K. We are heading towards Bahama prices here. Down side might be that will be too expensive for the kiters-windsurfers then.

[danely]

Thnanks for the input ! OK, so the big, 'spensive, condos (I won't pay that) are coming....now what ?

I can either buy somewhere else (where ?? Las terranas, Galeras, Nagua??) or grab something relatively cheaper in/around Cabarete, before it's impossible to rationalize the price at all.

And, why does it seem that everything, including all the businesses in Sosua
are for sale ?? Some kindof mass exodus ? Or people just float their stuff for sale to see if they can make a killing....if it seels fine, if not, Ok too..

[Miko]

is a bit different. There was (and still is) alot of inventory from the Germans moving out and the Americans have not yet pick-up the slack. Prices have been going up a bit (most likely riding the tail of Cabarete) but has not reached the kind of increases that has been happening in Cabarete. Other thing to consider is the fact that there has been many hotels closing down and tourism was, up to recently, down in Sosua/Puerto Plata, whereas Cabarete has bee able to maintain its tourist base because of its natural ressource: the wind. Its still acknowledged as being one of the top five best places in the world for kite/windsurfing. Hotels are going up or are being remodeled. General trend for tourism on the island right now is the shift to Boca Chica/ Punta Cana area. But to me, those areas lacks the small town spirit and services. You are either in an AI or nowhere.
Even with its large recent increase in price, I would still look for another purchase in or very close to Cabarete. Unless the kite/windsurfing business moves out because of the large increase in prices.

[frank alvarez]

You know, if you have locals as friends or business associates, they can find locally-owned property that may not necessarily be beach front but can be easily accessible to the beach but still away from the high-priced, tourist-oriented areas....even going a bit further, for example, in the north coast, if you can deal with being a one-hour drive away from the beach, you can live in Santiago, where you can get a small condo apt. for 20K-30K and you have all basic services secured and schooling, shopping, etc.....just another angle to consider.

[Escott]

Originally Posted by Miko

is a bit different. There was (and still is) alot of inventory from the Germans moving out and the Americans have not yet pick-up the slack. Prices have been going up a bit (most likely riding the tail of Cabarete) but has not reached the kind of increases that has been happening in Cabarete. Other thing to consider is the fact that there has been many hotels closing down and tourism was, up to recently, down in Sosua/Puerto Plata, whereas Cabarete has bee able to maintain its tourist base because of its natural ressource: the wind. Its still acknowledged as being one of the top five best places in the world for kite/windsurfing. Hotels are going up or are being remodeled.

Meanwhile the most exclusive community in the caribbean is at Sea Horse Ranch in Sosua with El Choco probably a close second. Cabarete hasn't even come close to the high end of Sosua yet and probably wont ever since it doesn't have the raw resourses of Sosua and is fairly built up with a minimum of good buildable land left.

A lot of the Germans have moved out and a lot of Americans have moved into both Sosua and Cabarete and are continually buying. Just ask any broker and that is what they will tell you.

Cabarete's tourist base crapped the bed just like Sosua did but both are on an upswing these days. There were nights when there wasn't a soul at the restaurants in Cabarete not that long ago.

Sosua is also about 8 minutes from the airport with Cabarete a bit further. Go farther east towards Samana and you will find cheaper dirt to buy. further away from the airport you go the cheaper it gets with few exceptions.


Just another opinion...

Scott

[danely]

Thanks to all of you for your thoughtful insight. I never posted here before, and I'm really pleased by everyone's helpfulness.....keep the info coming !

I might travel next weekend to look around....fly into puerto plata then head to Cabarete, and possibly on down the line.

Danely

[Miko]

call Sea Horse Ranch or El Choco Sosua, they are more halfway between the 2 towns.