Price of land in Sosua, Puerto Plata, Santiago

[ltsnyder]

It's hard to get the feel of what the price of land is in Santiago, Sosua or Puerto Plata. I'm lost and have no idea what the going rate for land is or how the prices have changed since 9/11/01 or how they have changed since the Baniter colapse. I've had enough legal warnings, so please don't warn me about sleazy deals with out first givin me an idea of land prices.

Here are some example questions:

1) About 2 years ago, someone I know bought land in Puerto Plata for a garage, the land was in town and a little south of the old market. He paid 700 pesos /m2 for a 500 m2 lot. Have the prices in town gone up since then, or down. Does this price sound right?

2) What would be the best area of Santiago to buy in, and what would the prices in pesos / m2 be. I like Santiago because it is a large town with nice infrastructure.

3) There are a lot of new urbanization zones (you see them when you go up the cable car), and pleanty of lots in town. I heard of rates between 300/m2 to a claim of 650/m2 , it's all newly zoned land and while the Urbanization zone has provided electical posts and water to older parts of the zone, areas where the selling is going on still require the electrical posts and water. Any thing you have herd of as far as transactions complete and rates would help.

4) I like Sosua as a nice small town with lots of foriegn tourest to bring it some norther culture. Sosua has areas that seem to still have lots of land for sale near town. When entering Sosua from Puerto Plata there is "little sosua" a section with a dip in the road. What might the prices be around there.

-Lee

[Criss Colon]

As "Escott" will tell you the 3 most important things that determine to value of real estate are:Location,Location,and Location!!! Not to mention "A motivated seller"! You really have to be "on site" to ask SPECIFIC questions about prices.I will say that better deals are now being found,with still better deals ahead! You got $$$$$$$$$$$$$$$$ you got DEALS!


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[ltsnyder]

I guess the best way to approach this is to be given examples of price changes over the years. could some one give an example of a lot or similar lots in the same urbanization zone that changed price. I know the prices are all over the board.

-Lee

[BushBaby]

We Bought a plot of land in Bayardo (the 'Posh' area of Puerto Plata) at a rate of RD $675 per square meter back in July of 1998. Last month we bought a plot next to our existing house ( yes, we built a house on the first plot) & it cost RD $1,200 per sq. mtr!!

In the centre of town, right opposite the Amber Museum, we have a BIG 3 bedroom, 4 reception rooms house standing on 419 sq. mtrs which we put up for sale 4 years ago RD $1,600,000. Despite the falling of the Peso against the US $, we are still looking to sell at RD $1,600,000 IF we can find a buyer!!!??

As Chris says, You got the US $ ........ YOU got the clout to buy cheap & get the best deals!!!!! - Grahame.

[Escott]

Originally posted by ltsnyder
I guess the best way to approach this is to be given examples of price changes over the years. could some one give an example of a lot or similar lots in the same urbanization zone that changed price. I know the prices are all over the board.-Lee

I bought a lot in a gated community in Sosua for 15k. The guy I bought it from paid 36k. I made offers on 4 other lots in the same subdivision that were turned down with out even a counter offer. The developer still has lots in the subdivision at the same price my guy paid.

Don't know how much help this has been but there you go!

[ltsnyder]

Originally posted by Escott
I bought a lot in a gated community in Sosua for 15k. The guy I bought it from paid 36k. I made offers on 4 other lots in the same subdivision that were turned down with out even a counter offer. The developer still has lots in the subdivision at the same price my guy paid.

Don't know how much help this has been but there you go!

That is fantastic, just the kind of information I wanted, but just to clarify.

1) When do you think the person you bought it from buy it (for 36k US$)?
2) When did you buy it?
3) How many square meters was the lot?
4) when did you make the offers on the other lots?
5) Have you noticed/(heard of ) any lot's in the subdivision being sold recently?
6) Where is this located exactly (I mean the urbanization zone)?
7) What are the advantage of being in a gated community?
8) Do you hear of foreigners living outside of gated communities?

I know I'm plugging you for information, but as I said I am an ignorant foreigner, and this information is invaluble to me.
Thank you in advance for you help.

-Lee

PS: Let me rephrase that, your my info god that I bow down to and worship. Your informaion is a blessing to me.

[Escott]

Originally posted by ltsnyder
That is fantastic, just the kind of information I wanted, but just to clarify.

1) When do you think the person you bought it from buy it (for 36k US$)?
2) When did you buy it?
3) How many square meters was the lot?
4) when did you make the offers on the other lots?
5) Have you noticed/(heard of ) any lot's in the subdivision being sold recently?
6) Where is this located exactly (I mean the urbanization zone)?
7) What are the advantage of being in a gated community?
8) Do you hear of foreigners living outside of gated communities?

I know I'm plugging you for information, but as I said I am an ignorant foreigner, and this information is invaluble to me.
Thank you in advance for you help.

-Lee

1 4-5 years
2 2-3 months ago
3 2500?
4 2-3 months ago
5 Someone posted here about buying in Lomas Mirones a few weeks ago.
6 on the Road between Sosua and Cabarete across the road from Sea Horse Ranch in Lomas Mirones.
7 security, tennis courts, clubhouse, roads, underground electric, neighbors, peace of mind, sex, drugs and rockin roll.
8 yes of course

My pleasure. Fire away if you have more.

[ltsnyder]

Originally posted by Escott
1 4-5 years
2 2-3 months ago
3 2500?
4 2-3 months ago
5 Someone posted here about buying in Lomas Mirones a few weeks ago.
6 on the Road between Sosua and Cabarete across the road from Sea Horse Ranch in Lomas Mirones.
7 security, tennis courts, clubhouse, roads, underground electric, neighbors, peace of mind, sex, drugs and rockin roll.
8 yes of course

My pleasure. Fire away if you have more.

2500 m2? that's about 1 acre of land, or 50 meters x 50 meters, is that about right? You had a question mark over the size. If so, that is a really big lot.
That would have been about 150 pesos per square meter, is that right?


-Lee

[Escott]

Originally posted by ltsnyder
2500 m2? that's about 1 acre of land, or 50 meters x 50 meters, is that about right? You had a question mark over the size. If so, that is a really big lot.
That would have been about 150 pesos per square meter, is that right?


-Lee

I think it is closer to 5/8ths of an acre. Meter is bigger than a sq. yard. 10.xx sq ft to a meter. so 25000 Sq ft to a 2500 meter lot. 43000 to an acre or close.

I paid dollars for a lot. I didn't compute in pesos per meter.

Escott

[goatfarmnga]

Well from the many posts..everyone wants to know about buying land in the DR..(Myself included!) I have figured out that to buy land in the DR I will have to get a local person to go with me to see property. Let the local go back and do the talking and get a better deal...(worked for me in the PI) My husband (a Domincan in the US) says US/foriegners pay outrageous prices.....My brother in law who is a local DR business man (In Santo Domingo areas) just bought 12 acres for $4,000 US$ (One of several reasons he used to get us to move to the DR) so I guess it all depends on who you know and good research..and as someone said before LOCATION LOCATION LOCATION! and the one with the $$$ gets the deal. Also some great info can be found here at DR1..Thank you for the conversion chart from hectare/tarea to acres etc that was just what I have been searcing for! And 65MSwede (something like that) posted a great map with modern day roads! A great help in familiarizing me to the areas the DR1 people speak of. Thanks for all the great info! I have emailed several of you and really appreciate the info.. (Yeah, I tend to be a little HYPER! PAM