Investing in Bavaro/Punta Cana

Stormchaser! · #1 09-30-2009, 11:45 PM

Hi all. Newbie here, just found this site and think it's great.

I was just wondering if anyone here knows anything about condos for sale in Bavaro/Punta Cana? Are properties actually moving at the moment or is it a bit slow like everywhere else?

I am thinking about a new development off-plan. What worries me though, will it will be finished on schedule or will there be delays, delays and more delays due to units not being sold.

This would have an obvious effect of not being able to obtain a rental income as planned.

Any info would be appreciated.

Thanks in advance.

bookbox · #2 10-01-2009, 01:35 AM

I just think you need to be very careful and do as much research as you possibly can. We bought off plan in January 2008. We visited the development twice and saw that there was progress being made. However after 18 months only half the development has been completed, our block still hasn't been started and there is no indication of when construction will resume.

There are probably some very good deals around at the moment but get yourself a good lawyer and don't believe all that you're told by agents.

PM me if you want more details.

Stormchaser! · #3 10-01-2009, 04:04 AM

OK bookbox, thanks for that. Will PM you.

Has anyone got any thoughts on the real estate in Uvero Alto in particular?

Cheers.

Pib · #4 10-02-2009, 06:00 PM

If I may suggest something, don't buy something on plans. It will end in tears.

Pib
Crying.

Stormchaser! · #5 10-03-2009, 07:18 AM

Hi Pib.

Do you mean in general or in particular Punta Cana? Did you, or are you having a bad experience in buying off-plan?

Thanks for any info.

PJT · #6 10-03-2009, 09:18 AM

The poor economy has really brought the real estate market to a standstill. Many developers got in over their heads by constructing units based upon the speculation of sales revenues. However, the sales market has gone bust and there are many units available at discounted prices.

The area of real concern that if one is to buy, it should be in a community that has to have a sustainable infrastructure of maintenance and utilities. Developers/administrators in some residencial communties cannot fully provide these functions because the service revenues they expected do not support these functions and now they are operating in the red.

Do your homework and research where you buy, it is just as important of what you buy.

Regards,
PJT