Hello again Harry! I just now saw your email and here’s a quick account, hopefully before your deadline- My husband (61yrs) and I (58) have traveled thruout the world, including Australia, New Zealand, Europe, most Caribbean islands and several countries in North and South America, so we didn’t just buy in the first country we saw. We knew what we DIDN’T want: high rise condos, lots of tourists and strip malls. We DID want a great walking beach, lively town with good grocery stores and restaurants and, most of all, an affordable cost of living. We found all that in Las Terrenas. We loved the mix of French, Italians, Germans and local Dominicans. We discovered a local bar/restaurant named “Kelly’s” after its beautiful Canadian owner, where we met interesting, intelligent and fun people who speak English (we’re still working on our Spanish!) It’s important to have a meeting place like the TV show “Cheers” where “everybody knows your name!” Las Terrenas has over ten miles of beaches and the town is surrounded by beautiful palmtree-covered hills. During our last visit, my husband walked down to the beach and bought some red snappers right out of the fishing boat. They filleted the fish on the beach, we grilled it on our backyard grill that evening and enjoyed it with a fresh baguette from the French bakery and wine and vegetables from Super Mercado Lindo! We actually bought one of the very first properties that Dan Hussmann showed us. We’d seen two condos and a house on the hill, but as soon as I saw the heleconia and wild ginger growing along the wall and the turquoise swimming pool I knew we’d found our piece of paradise! Danny called the owners in the US and we made them an offer and the deal was done in about 48 hours! We realize excellent rental income from our house which we rent for $600/week and advertise on http://www.homeaway.com/vacation-rental/p202857 . We just had the entire 900 sq ft villa tiled with white ceramic tiles for only $1500US and we’re planning to add a second bathroom. Again– I invite anyone interested in a wonderful way of life to check out Las Terrenas. Rent our house during your visit and let Danny and Bruce from DR Paradise show you around! Susan Miller
Another recommendation for us!
April 2, 2009 — drparadiseHi Harry–
Thanks for your note–
Anyhow…. we first visited Panama with the intention of buying there, (and saw all the places Kathleen has mentioned) but…it wasn’t for us! So we contacted DR Paradise, the RE company in Las Terrenas who was mentioned in the Live+Invest article-
Both Bruce Pierson and Dan Hussmann were fantastic to work with and I highly recommend them and their services! Danny was our realtor for House Hunters and did a super job– These two guys know EVERYthing about Las Terrenas and have become good friends of ours–
I was writing my original letter to report that House Hunters International is looking for more couples who are buying on the Samana Peninsula and to contact Danny if they’re interested!
Please let me know if you’d like more details about our purchase and thank Kathleen for sending us to the DR!
All best-
Susan Miller
—– Original Message —–
From: Harry Kalashian
To: Susanspeaks@bellsouth.net
Sent: Wednesday, April 01, 2009 6:45 PM
Subject: RE: House Hunters International
Hello Ms. Miller,
Thank you for your wonderful email. The house seems spectacular!
I wanted to notify you that your message was actually published in today’s issue of the Overseas Opportunity Letter. You can go here to read it: http://www.liveandinvestoverseas.com/archives09april1.html We hope you receive some good inquiries for the rental.
I also wanted to inquire about the buying process you had in the DR. We are currently working on a report for the Dominican Republic, and our now in the resources phase. To that end, could you give us the name of your Real Estate Agent (or company)? We are constantly seeking honest and dependable agents whom we can research and recommend to your fellow readers and soon-to-be overseas investors.
We’d appreciate any info you can provide.
Thanks again, please do not hesitate to write again.
Best regards,
Harry Kalashian
Marketing Manager
Live and Invest Overseas
________________________________________
From: editorial@liveandinvestoverseas.com [mailto:editorial@liveandinvestoverseas.com]
Sent: Tuesday, March 31, 2009 3:43 PM
Subject: Fwd: House Hunters International
—–Original Message—–
From: Susanspeaks@bellsouth.net [mailto:Susanspeaks@bellsouth.net]
Sent: Monday, March 30, 2009 04:24 PM
To: Editorial@liveandinvestoverseas.com
Subject: House Hunters International
Hi Kathleen-
As I’ve written previously, my husband and I bought a vacation/rental house in Las Terrenas, Dominican Republic BECAUSE we read about the area in your wonderful newsletter–thank you again! We’re so happy we took a chance and bought our 2 BR house with swimming pool just 300 steps from the beach even though we live in the US and still do not speak (good) Spanish! We rent our house through www.homeaway.com/202857
Susan Miller, Author * Speaker * Trainer
Working in The Positive Zone®
Creating high energy, low stress workplaces
Local: 502-228-5558
Toll-free:1-8-NOT-BORING
http://www.ThePositiveZone.net
House Hunters International airs March 24th at 9pm Eastern Standard Time!
March 23, 2009 — drparadiseGet a good look at fat Dan here in Las Terrenas.
February 18, 2009 CONTACT: Susan Miller
502-228-6272 502-396-1576 cell
HGTV Hit Show, “House Hunters International”
to Feature Local Couple, Tuesday, March 24, 2009
Concerned by their dwindling retirement funds, Prospect residents Steve and Susan Miller searched last year for a vacation home in a country with low living costs and tropical weather. In July, 2008, they purchased a two bedroom villa with a swimming pool only 300 steps from the beach in the town of Las Terrenas, Dominican Republic.
A production team from HGTV’s “House Hunters International” filmed the Millers at their riverfront home in Prospect and during their search in the Dominican Republic in June and July, 2008. During the program, the couple tours three homes with their local Realtor and discusses the pros and cons of each property.
The half-hour episode will air Tuesday, March 24 (time TBA) on HGTV channel 51.
More pics>
HHI Crew Beach is 300 steps away
Villa has a ¼ acre walled yard Living area in Las Terrenas
Kitchen in Prospect home Kitchen in Las Terrenas
Revolutionary Law in the Dominican Republic
March 23, 2009 — drparadiseCorporate Alert: New Company Law Enacted
March 14th, 2009, Dominican Republic
President Fernández signed into law on December 11, 2008, a new company law (Law #479-08″) which will revolutionize the way business is done in the Dominican Republic. The most important innovation brought about by the new statute is the creation of two new business entities: the “Sociedad de Responsabilidad Limitada or SRL” (Limited Liability Company or LLC) and the “Empresa individual de Responsabilidad Limitada or EIRL (Limited Liability Individual Business). The “Sociedad Anónima or S.A.,” currently the entity of choice of 99% of Dominican businesses, has been amended to make it the vehicle for medium or large businesses. Here are the characteristics of the two new business entities (SRL and EIRL) and the most important changes made to the S.A.
Limited Liability Company (SRL):
• Based mostly on the current LLC’s in French Company Law with certain similarities with American LLC’s.
• Chief company officer(s): one or various managers (“gerentes”). Must be individuals.
• Minimum of two shareholders; maximum of 50. Spouses may be the sole shareholders.
• RD$100,000 minimum capital (full amount must be paid up and deposited in a bank in order to be able to record company at Business Registry).
• Shares not readily transferable, depending on wishes of shareholders.
• Shareholders’ liability limited to their investment in the company.
• Ideal for small or family businesses.
Limited Liability Individual Business (EIRL):
• No shareholders; one sole individual owns the business.
• Owner must be an individual; companies cannot be an owner.
• Owner’s liability limited to his or her investment in the company
• No minimum capital.
• Chief Officer(s): the owner and the manager. The owner may be the manager.
• Ideal for businesses owned by a single individual.
Sociedad Anónima (SA):
• Minimum capital: RD$30,000,000 (approx. $850,000 US).
• Board of Managers (“Consejo de Administración) required with a minimum of 3 members.
• “Comisario de Cuentas” required. (The Comisario de Cuentas is an independent company officer in charge of overseeing the company accounts. Comisarios de Cuentas must be Certified Public Accountants).
• Tougher criminal penalties for SA managers compared to SRL managers.
The new law will come into effect on June 19, 2009. By then, every S.A. must comply with the new requirements IF its shareholders wish to remain as an S. A.
If, on the other hand, shareholders wish to convert their S.A. into an SRL (LLC) or an EIRL (Individual Business), the conversion period will start on June 19, 2009.
Guzman Ariza attorneys have been active participants in the changeover process. Fabio J. Guzman-Ariza and Alfredo A. Guzman, senior partner and associate, respectively, in the firm, partnered with the Fermin Taveras Law Firm in the preparation of the regulations that will be used by the Business Registries (“Registro Mercantil”) in the new process. They have also prepared for publication in April 2009 a book of company forms for the SRL’s and the EIRL’s, and a comparative study on the operation of the SRL’s.
Clients who have incorporated in the Dominican Republic are invited to contact their attorney at Guzman Ariza for a FREE consultation on how to proceed.
DR not “feeling” it – economic woes that is!
March 10, 2009 — drparadise2. DR still not “feeling it”
Hacienda Minister Vicente Bengoa tells us the DR and Central America have yet to feel the pressures of the world economic crisis, saying that what is being seen is a deceleration of growth in the region’s economies. Bengoa explained that a recession is defined by two consecutive semesters of negative growth, while what is being seen in the region is a period of slower growth. Bengoa predicts that economic growth will be an estimated 3% in 2009 after having registered 8.5% in the last four years.
Golfing Mecca
March 6, 2009 — drparadiseIf you are unable to see the message below, click here to view.
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March 4, 2009
Two Sweet Spots
South of the Border
Dominican Republic
The International Association of Golf Travel Operators recently named the Dominican Republic “The Golf Destination of the Year 2009″ for the Caribbean and Latin America. It boasts two of the largest golf resorts in the Caribbean:
• The venerable Casa de Campo Resort near La Romana has three magnificent courses designed by Pete Dye: the Teeth of the Dog (see photo), Dye Fore and Links
• Cap Cana, a $2 billion, 8,600-acre resort, has luxury hotels, a marina, residential villages, three miles of beach and three championship golf courses (with plans for three additional courses). The resort hosts the Cap Cana Championship, a Champions Tour event.
Mexico’s Riviera Maya
This region, which includes Cancun, is not just for spring breakers and the cruise-ship crowd. Golfers are increasingly finding great venues to tee it up at places like:
• Greg Norman’s El Camaleon (site of the PGA TOUR’s Mayakoba Golf Classic at Riviera Maya)
• P.B. Dye’s Iberostar Playa Paraiso GC
• and Jack Nicklaus’ 27 holes at the Moon Palace Resort
New courses in the works include the separate layouts by Tom Fazio and Nick Price at the Cancun Country Club and Puerto Cancun by Tom Weiskopf.
FLORIDA SWING TRIP GOLFPAC
Enter the Buddy Trip Sweepstakes.
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Win a trip of a lifetime and play the Old Course!
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New International Airport at El Cateya and El Portillo Spa and Beach Club
March 6, 2009 — drparadisehttp://www.diariodigital.com.do/articulo,38565,html
Publecitas de Pescadores – Restaurant Row – Las Terrenas, Samana, Dominican Republic
March 5, 2009 — drparadiseQuestions and Answers from a future dominican
March 5, 2009 — drparadiseHey Bobbi,
Answers below please
From: bdrexler1@aol.com [mailto:bdrexler1@aol.com]
Sent: Thursday, March 05, 2009 9:42 AM
To: danhussmann@gmail.com
Subject: INFO
Hey Dan,
Got your info and am still going thru it. Looks like Barb has got the right idea.
[Daniel] sure…it is a lot of info…it will answer lots of your questions though – you should subscribe to www.dr1.com as well. Next, when you have time, spend some time on my BLOG…
I’d probably spend some time on the Guzman webpage too…I attached it to last letter
First of all; I am thinking about us moving there. Are you a real estate broker, and do
you live in Florida, or there? Explain how all that works. Where in Florida–Ft. Lauderdale???
[Daniel] I have my Florida Brokers License on voluntary inactive…I live here full time
We would be interested in keeping a home here and having a small place there to see
how we like things. We will visit I hope this summer.
[Daniel] Perfect!
I would like to work there selling
real estate; Barb says it’s an untapped market with lots of newcomers.
[Daniel] how’s your Spanish?
I also want to know about social security checks (my husband’s), and pension checks–
we are on automatic deposit. Would we use a bank in Florida for that and just actually,
how does all that stuff work.
[Daniel] not 100% sure as I am WAY too young for that stuff! I use a Florida Bank, but I also have an account here.
I know some of the income we have (I think it may be social
security for Frank, or maybe his VA pension) is not payable out of the country. I don’t know
for sure, but I have in the back of my mind, that I ran across that in print somewhere.
[Daniel] you probably better get a hold of them.
So, what I want to know right now is about the cost of living vs. our US dollar. Can you tell me.
[Daniel] currently, the Dominican Peso is about 35 pesos to the dollar. Outside of a monthly house payment one can live VERY comfortably here for under $3,000 a month…that would include a maid and a gardener!
Also, are there US banks there, or do you bank in Florida?
[Daniel] none that I know of
Do you actually live there, or do you
go back and forth to Florida.
[Daniel] here 100% of the time…only way I am going back is swim, and if I do tat, I sort of hope I don’t make it!
What franchise (real estate) do you work with.
[Daniel] DR Paradise is independently owned…been here 10 years.
How much does
a great agent make yearly????
[Daniel] ???? It is not as easy as people think…again, how’s your Spanish. The world’s economy has not helped us either. We are not as bad as many places, and we are starting to see people taking their money out of the US and investing it here, but it is difficult. Without two of our partners here who are Dominican and born here on the peninsula we could not do it. Sellers are a mess here…they never have their paperwork ready…it is really hard!
You seem to be an exception though if you did 8Mil last year! Tough times to do that well. How many agents do you have?
Tell me about the new resort/hotel Barb has been talking
about.
[Daniel] Barb? Which one?
What employment opportunites would there be for my son, age 30, and his wife.
[Daniel] Skills? That’s a tough one too because wages are SO low…I attached “Developing Apartments…” above…that’s a sure way! Other than that, live here and find your nitch…figure what is needed (lots) and then fill that need…I myself am opening a Topless Drive-thru liquor store. (Just kidding about the Topless part!)
They have
1 son under one year of age? Schools? Just thinking in time, they may want to move as well.
[Daniel] We have a private French School that is pretty good…all the kids there have at least 2 languages and most 3. There is more to education than just school so living in other countries and learning different cultures adds to ones emotional intelligence
I know all this sounds probably really elementary to you but I need some kind of basis to know
more about what to check into.
[Daniel] again, I’d get on www.dr1.com … join the chat rooms…better info than I can provide and many different experiences, not just mine
How does your real estate commission work
[Daniel] what commission? Just kidding. It depends on the deal…who works it…we really partner on a lot of it. Bruce and I (the two gringos) depend on Pedro and Deiby for their Dominican Knowledge and they depend on us for our computer and networking and marketing skills. We being ‘em in and they help us close…they also get so many more listings tat neither Bruce nor I could touch.
-what percent;
[Daniel] depends
desk fees?,
[Daniel] none
etc.
Are you a ReMax agent or Broker. Is it ReMax. I used to own a quarter interest in a Re/Max
franchise in Ky. It’s a great company.
[Daniel] We have a Remax here…not doing much but maybe they need a go-getter like you! I would have to leave the hiring of another agent to Bruce and Pedro the two principals of DR Paradise
[Daniel] Hope I’ve helped Bobbi…be sure to give DR1 a try.
Can you drop me an e-mail re above info for starters.
Look forward to your call.
Bobbi
1. DR and US Co. go solar
February 8, 2009 — drparadise
1. DR and US Co. go solar
The Dominican government and Sunovia Energy Technologies from the United States have signed an agreement to install the first solar energy plant in the country, according to a company press release.
In a press release, Carl Smith, the executive director of Sunovia Energy Technologies said that Dominican President Leonel Fernandez has shown a “tremendous passion for resolving the country’s energy difficulties.”
The executive said that the Dominican government has “realized that having a bilateral focus, including responsible renewable energy production combined with a energy conservation program are critical steps that have to be taken in order to get the country on the road to acquiring energy independence.”
The agreement sets an investment of some US$200 million and is said will provide employment for 2,500 workers.
Eddy Martinez, executive director of the Dominican Republic Center for Exports and Investments (CEI-RD) stressed that the agreement is the result of “intense work” that the nation has done over the past few years in its efforts to reduce its dependence on oil.
“And, at the same time, to create new jobs and attract new investments to the island”, he said.
The contract with Sunovia Energy Technologies, which is based in Sarasota, Florida, is part of a wave of new investments in renewable energy in the Dominican Republic, according to the official.
This wave includes other companies from the United States like the Masada Resource Group, STC Engineering and Burbano Recycling have established energy generation and bio-fuel facilities in the country, according to the Dominican official.
Martinez stressed that as well as wanting to attract investors in renewable energy the country also wants to expand investments in sectors relating to stem cells, genetically modified foodstuffs and the creation of hybrid fuel vehicles.
4. Leonel revokes tax increase
The director of Department of Taxes (DGII), Juan Hernandez, has suspended, for the time being anyway, the raise in assessment values on real estate and in its table of reference for calculating the Tax on Property (IPI). He said he did so in response to a request from President Fernandez. The Dominican leader asked the official to wait until the end of debates at the National Unity Summit.
Despite knowing that the values attached to real estate classified as luxurious or as unused urban lots or buildings have not been revised since 2005, Fernandez said that “we need to wait until the process of the working group dealing with the economy and competitiveness is finished.”
Business sectors have said the appraisal is untimely, because many real estate property prices are inflated by the effects of the real estate bubble that has not left the DR unscathed. These sectors say the government should wait and see what effects the global financial and real estate crisis will have on property prices here.These sectors say the government should wait to see what effects the global financial and real estate crisis have on prices of property here.
The DGII director confirmed the request from the President, saying that it was in line with the spirit of the Unity Summit that is seeking a consensus on all major issues.
According to DR1 News yesterday, the tax director ordered a revision of the assessments on urban properties that serve as the base for the IPI, and even though the measure did not imply an increase in taxes, it did modify the baseline for the payment of the 1% tax on assets due to the fact that this works on the difference between the RD$5.0 million established as exonerated and the new value established by the property assessors.
5. Construction materials prices decline
Reinforced bars for construction have dropped from RD$3,000 a quintal two months ago to RD$1,550, reflecting a major decline in demand. Listin Diario reports that nevertheless the bag of cement is holding to around RD$255, despite major declines in imported inputs. Cement producers say that the price of the fuel they use to run their operation has not declined. Prices on cement blocks have also declined. Hardware store owner Jose Jimenez said that Dominicans should make the most of the decline that he believes is only temporary.
DR Banks Strong
January 30, 2009 — drparadiseDR banks strong
The end of 2008 found Dominican Banks with assets totaling RD$596.5 billion, for an increase of RD$60 billion over 2007. Listin Diario details that the benefit of this is that an increase in liquidity could be advantageous in the result of a financial crisis on the world markets. Bank administrator Rafael Camilo made the declaration on the status of banks during a press conference to discuss the Dominican banking structure, a variety of economic indicators and monetary policy. According to Camilo, banks made RD$12 billion in earnings, RD$2.6 billion more than in 2007. He said banks paid RD$3 billion in taxes in 2008. He also explained that credit increased by 17.2%. Bank solvency rate also recorded an increase of 1.4%, realizing 14.5 in 2008
Halloween & Christmas 2008 – Las Terrenas, Samana, Dominican Republic
January 21, 2009 — drparadise
-
- Christmas 2008 –
Whitten Caribbean Real Estate
September 8, 2008 — drparadiseWhitten Caribbean Real Estate has just connected with a major international bank that has begun lending mortgage financing for second vacation home properties in the Caribbean and Central American marketplace. We will be working with them to expand further this service to encompass all regions throughout the Caribbean and Central America. Yes ground breaking!
With this mortgage opportunity, expat clients will be able to receive up to 70% financing on the purchase of their new vacation home and with an amortization of up to 30 years. Although the rate is still to be firmed up, I can say the rate will be competitive.
The test market for this mortgage financing will be in Costa Rica and is expected to quickly expand to the rest of the Caribbean and Central America.
To assist in taking this to the next level from the test market, we would like to get some idea of potential volumes and average loan size for mortgages in your country as well as average property values for both homes and condos. From your experience what kind of numbers would you believe you could expect with this mortgage opportunity per quarter?
Kind Regards,
Donna L. Hood, President
Whitten Caribbean Real Estate
dhood@whittencapitalgroup.com, www.whittencapitalgroup.com, www.multiplelistingservicecaribbean.com
US$100 million to be invested in DR by IDB
April 22, 2008 — drparadiseThe IDB, better known as the Inter-American Development Bank has recently indicated they will invest US$100 USD million to aid with the educational desires of the DR and to build up what is called “institutional infrastructures.” The representative for IDB in the D R, Manuel Labrado, spoke regarding the program through a stopover at the Chamber of Deputies. Mr. Labrado held that the agenda would be completed in affiliation with the government and after analyzing the priorities of the people.
Happy buyers John and Barbara Irving of Myrtle Beach Florida
March 31, 2008 — drparadiseHappy buyers John and Barbara Irving of Myrtle Beach Florida
Las Terrenas, Samana, Dominican Republic – Mar 15, 2008
by DanDannyDaniel Hussmann
Bought 3 bedroom unit in Paraiso Las Terrenas
Tourism going strong
March 14, 2008 — drparadiseTourism Minister Felix Jimenez says Dominican Republic Tourism could surpass 2007’s awesome figures in 2008. In January and February of this year, a total of 725,238 people visited Republica Dominica. This represents a 9.14% boost in tourists as compared to the January and February of 2007.
Senor Jimenez pointed out that figures from Central Bank specify that in February alone 372,002 visitors traveled to the DR, which represents a 12.74% increase on last year. For the period of the first two months of the year Canadians comprised the greatest amount of visitors with 13.9%. This was closely followed by US visitors at 10%, Europeans made up 2.12%. Russians, 9.3%, people from Belgium, 7.2, then Great Britain with 2.7%.
The Tourism Minister also said this swell in travel was perpetuated by the Dominican government’s improved spending on promotion. He added that throughout the past three years the normal spending on tourism advertising came to about US$23.3 million.
Happy Buyers and Seller
March 4, 2008 — drparadiseHappy buyers Joseph and Joan Supino of Canada celebrate their closing with seller Kathy Rich of Las Terrenas.
Why buy here?
December 28, 2007 — drparadiseReal Estate Investment Opportunities
Las Terrenas, Samaná
Dominican Republic
Prepared by: DanDannyDaniel Hussmann
829-644-8094
Las Terrenas Real Estate Investment Opportunities
This document has been prepared to show potential investors a unique location of the Dominican Republic called Las Terrenas in Samaná. In this area a number of beachfront properties are still available for sale by their original owners through various representatives.
The next few pages contain:
• Introduction to the Dominican Republic, Samaná, and Las Terrenas
• Transportation to the area
• Why invest in Las Terrenas
• Q&A section
• Brief guide to investing in the Dominican Republic
• Conclusion
Introduction to the Dominican Republic, Samaná, and Las Terrenas
The Dominican Republic
A tropical destination, the Dominican Republic is a Caribbean gem located in the Lesser Antilles, on the island of Hispaniola. Sunny days and cloudless skies attract visitors from all over the world, where they arrive to the welcoming sound of gentle waves rising and falling along the soft powdery sands. In the carefree atmosphere of the Dominican Republic you will quickly feel at home. Cheery locals, fresh food, fabulous weather, immaculate beaches and stunning terrain combine to create the ultimate island get-away.
There is no better place to get your feet wet, as you partake in water-sports of all kinds – windsurfing, kayaking, snorkeling, jet skiing, scuba diving, surfing and more.
Or stay dry on land and climb up verdant sloping hills, hike through fascinating nature preserves, and photograph rare species amidst thriving blooms and trees.
And, of course, you always have the option of simply dozing off on a hammock on the beach, the sun warming your skin while the breeze keeps you refreshed. In the Dominican Republic you will discover remarkable things you’ve never before experienced.
The Dominican Republic, only a two hour flight from the U.S., is one of the largest tourism destinations of the Caribbean, and is still growing rapidly. With a stable economy and the rapid expansion of the tourism industry, the Dominican Republic is a strategic place for
property investments. Low cost of labor and an affordable cost of living make this country a smart choice for the development of any tourism or real estate projects.
Samaná
Along the northeastern coast of the Dominican Republic lies the Samaná Peninsula, an immaculate region stretching into the clear blue Atlantic Ocean. Here you will find lush rainforests amidst flowing waterfalls and gentle mountains. Charming villages dot the area,
providing excellent destinations awaiting your discovery.
In addition to being known as a haven for birds and wildlife of all kinds, the Bay of Samaná is most commonly renowned for welcoming the stunning humpback whales during their annual migration, in the months of January through March. These large whales swim from
Greenland and Iceland to the Samaná Bay for a warmer winter, and to mate and feed. Mid-March, they head back to where they came from, only to return a year later so that the females can give birth in the warm Dominican waters.
In view of the outstanding natural beauty of the region and its unique natural and cultural resources, the initiative has been taken to have the contiguous area of the peninsula, the bay, and Los Haitises recognized as a Biosphere Reserve. This program operates at different levels: naturalist guide training, community education, working together with and advising the local and national tourism industry, government organizations and development agencies. The mid-term aim is to develop tourism which brings economic benefits to the local communities and the region, and conserves the outstanding natural beauty and resources for posterity and the long-term viability of the tourism sector.
Biosphere Reserves are protected areas in terrestrial, coastal, and marine environments that have been selected to serve as representative examples of a country´s natural and cultural patrimony. Reserve designation is provided by the United Nations Educational, Scientific
and Cultural Organization’s (UNESCO) Man and the Biosphere Program (MAB), initiated in 1971. The Biosphere Reserve is the oldest and only internationally recognized program which designates protected areas with the objective of making conservation compatible with economic and social development.
Las Terrenas
It is said that the most beautiful region in all of the Dominican Republic is the Samaná Peninsula… Jutting out along the northeastern coastline, it is home to a wealth of tropical nature’s boundless beauty.
And among the blooming rainforests, whispering mountains and
10 miles of golden beaches lies a hidden treasure: Las Terrenas.
Located on the north coast of the Samaná peninsula lays the quaint sea-side town of Las Terrenas. Just a few years ago, this small village of local fishermen was transformed into the perfect destination for those seeking a private tropical paradise. Bordered to the south by lush and vibrant green mountains and to the north by miles of undeveloped beaches, Las Terrenas is widely acknowledged as the most beautiful natural destination in the Dominican Republic.
Over the past 10 years, Europeans have done a spectacular job of building an international community here with fabulous restaurants, bed and breakfast hotels, and charming villas, without destroying or offending the local culture. The sandy roads that stretch along its
coasts are lined with over 40 bars and restaurants nestled between countless coconut trees.
Although the village is secluded from the large all-inclusive resort towns, it shares in their comforts of large supermarkets, international banks, internet cafes and an excellent telecommunications infrastructure.
Not only does Las Terrenas provide you with an abundance of activities and entertainment, but its surrounding areas bestow upon you even more options for an unforgettable time. You will find that the spirit of this delightful village is infused with an alluring ambiance
made up of the kindest of locals, the most spectacular of nature’s assets, a sublime climate, and an easy-going tropical optimism. Experience the area’s bohemian qualities and rustic atmosphere – from handmade arts and crafts found within the many villages, to divine
dishes overflowing with delectable food grown by the locals in the naturally enriched soil, trees, and plants; your senses will be impeccably treated.
Las Terrenas Village features lively shopping areas and ocean side restaurants and a neighboring full service marina currently under development.
Transportation to the area
Halfway between Punta Cana and Puerto Plata, Las Terrenas rests in an area that is secluded enough to provide the ultimate hide-away feel, while still emanating a vibrant and lively atmosphere thanks to the quaint surrounding villages. Here’s how to get there:
By Plane:
The Dominican Republic boasts seven International Airports, facilitating the arrival and departure of visitors from all over the world. With one National and two International Airports within a radius of 18 miles of Las Terrenas, it couldn’t be easier to get here.
• Arroyo Barril International Airport, located 15 miles south of Las Terrenas.
• El Catey International Airport, 18 miles west of Las Terrenas.
• El Portillo National Airport, 2 miles east of Las Terrenas
Each of these airports is easily accessible by plane via any of the Dominican Republic’s major International Airports, which include:
• Las Americas International in Santo Domingo, a 30-minute flight to Las Terrenas.
• Cibao International Airport in Santiago, a 35-minute flight to Las Terrenas.
• Puerto Plata International Airport, a 35-minute flight to Las Terrenas.
• Punta Cana International Airport, a 25-minute flight to Las Terrenas
You can purchase a seat on any one of the local airlines, or charter a private plane from any of the seven international airports to the Las Terrenas/Portillo airport for anywhere between $75 USD to $400 USD.
Several major airlines offer regular service into all seven of the DR’s international airports from North America and Europe.
Approximate flight times are as followed:
• New York: 3 1/2 hours
• Miami: 1 ½ hours
• Toronto: 5 hours
• Major European cities: 8-10 hours
By Land:
The simplest way to arrive by land at Las Terrenas is straight from Santo Domingo’s Las Americas International Airport. Driving north out of Santo Domingo, a short distance out of Bonao keep a look out for a sign pointing to Piedra Blanca, where after turning the road
will lead you all the way to Samaná. A new highway is under construction, which will reduce the driving time from Santo Domingo from 5 hours to 90 minutes.
Why invest in Las Terrenas
Unlike many of the coastal towns in the Dominican Republic, Las Terrenas has been mostly undiscovered by major economic tourism and development. The Peninsula of Samaná was mainly an eco-tourism destination and the perfect hideaway for many Europeans expats.
Most of the desired real estate is not owned yet by foreign investors or all-inclusive hotel chains, instead much of it is still owned by Dominican families and is still affordable.
This is about to change. The new international airport, El Catey (25 minutes drive from Las Terrenas), is now operational. Long distance carriers from Europe and The Americas are now bringing tourists directly in the Samaná Peninsula.
In May 2005 construction began on the new Santo Domingo – Samaná Highway that will reduce the drive time from 5 hours to less than 90 minutes.
In the past year alone, 4 all-inclusive, 5 star Bahia Principe resorts have opened in the peninsula, with a total of 1,600 rooms. The major project “Las Terrenas Country Club” is already under construction and selling its villas and condos on the golf course, designed by
the world renowned Dye family.
A marina project, called Puerto Bonito, with 150 slips, is also under construction near Las Terrenas.
Chains such as Wyndham and Meliá have acquired properties and options on several of the available land plots, narrowing the window
of available real estate in the area.
We believe that there is a 3 to 6 year window of opportunity to purchase land for development in the area of Las Terrenas, and, the sooner the better. It is likely that 2 to 3 years after completion of the
new international airport and highway, the prices of real estate will have drastically increased, catching up to and equaling the other Caribbean Islands.
In addition to the developments and chains mentioned above, more than 20 more projects are currently underway in Samaná. Presently, investing in Las Terrenas is not only about investing in one of the most beautiful areas in the Caribbean, but also about the possibility of getting an excellent ROI. We foresee land prices will continue rising, minimum, at a yearly rate of about 35%. Compared to the low rates of ROI in Europe and the US, this signifies great potential for earnings with minimal risk.
The Dominican Republic is one of the most stable countries in the Caribbean and Latin America. The Government has signed a free trade agreement with Canada and the US, as well as a number of other Latin American countries. Its currency has been stable at an average of 32 pesos per US dollar for the past 3 years. Its strategic geographic location along with very low labor and living costs makes this country very attractive for those who are looking for high profitability and security.
In 1998 Presidential Decree 21-98 ruled that foreigners can buy any and as much private property as they want, complete with the title of
possession (proof of ownership).
Tax Exemptions- There is a law applied to tourist areas with strong potential in need of development such as Las Terrenas. Certain companies in these areas of the country can benefit from exoneration of company taxes (up to 100%) as well as national and municipal
taxes on building permits and ownership certificates (100%).
Q&A
Q: Why the Dominican Republic, and why Las Terrenas?
A: The DR is arguably the most beautiful spot in the Caribbean, referred to by many as “The Land Of Dreams”. Las Terrenas boasts a magical strip of 15 kilometers of virgin beach, and a town with more than 40 international restaurants including everything from Italian,
French, and Swiss cuisine to Japanese sushi bars. It offers as well a broad selection of available activities including horseback riding, golf, scuba diving, windsurfing, tennis and many more within just minutes of town.
Q: What is the resident population of Las Terrenas?
A: 20,000 of which approximately 6,000 are foreigners.
Q: Where is the Dominican Republic and Las Terrenas? (see map)
A: The Dominican Republic occupies the eastern two-thirds of Hispaniola, located between the Caribbean Sea and the Atlantic Ocean. Las Terrenas is located on the northern coastline of the Samaná peninsula along Hispaniola’s north coast.
Q: How do I get to the Dominican Republic and Las Terrenas?
A: Several major airlines offer regular service into several cities in the DR, from cities in both North America and Europe. From the U.S. and Canada, Continental, American Airlines, and TWA have direct flights to the DR. Regular flights are available from Europe via Air France, Air Europe, American Airlines, Lufthansa and Iberia. The DR has 7 international airports, the three largest of which are in Puerto Plata, Santo Domingo and Punta Cana.
Q: What is the form of government in the DR?
A: The Dominican Republic has enjoyed more than three decades of stable democratic conditions. Presidential elections are held every 4 years, with a maximum of 2 consecutive terms allowed any given President. The DR is considered a model Latin American country.
Q: What is there to do for entertainment in the DR?
A: Sports: The DR offers a wide range of sports, both on land and in the water. They include: tennis, golf, polo, diving, snorkeling, horseback riding, deep-sea fishing, windsurfing, sailing, caving, mountain biking, basketball, baseball, and plenty more.
Beaches: Las Terrenas has an astounding 10 mile stretch of beach; the entire DR boasts over 250 miles.
Gambling: Gambling is legal in the DR. Large casinos and hotels offer card games, roulette, slot machines, as well as horse-racing and boat-racing and cockfighting. You must be age 18 or over to gamble in the DR.
Shopping: The relatively low rate of the peso in the DR makes shopping a sheer pleasure. An impressive variety of local crafts and products are available as well as various outside goods imported from all around the world.
Dining: Dominican cuisine offers a unique combination of local spices and cooking styles, with several of its seafood dishes known worldwide. The food speaks for itself- give it a try!
Q: What is the language of the DR?
A: Spanish, although English is widely spoken throughout the expat and business communities. As an international tourist destination, it is common to hear French, German and Italian in the popular areas of the country.
Q: What is the climate like in the DR?
A: The DR enjoys a tropical climate, with temperatures averaging between 24 C (75 F) in winter and 30 C (86 F) in summer; it tends to be considerably cooler in the mountains.
Q: As a foreigner, will I have to pay taxes on investment earnings in the DR?
A: No. The tax laws are the same as in the rest of the Latin American region; interest is accrued on your bank deposits and investments completely exempt from DR taxes.
Q: Can I bank in U.S. dollars?
A: Yes. Banco Popular, Leon, ScotiaBank, and others offer U.S. dollar and Euro accounts.
Q: Are utilities available?
A: Yes. Water, electricity, and gas services are all readily available.
Q: What are the closing costs associated with the sale of property?
A: Taxes = 5% of sale price. Fees= Lawyer fee = 1%. There are no other closing costs. It is also possible to go around the 5% transfer tax. The owners of big lots usually set up a company and transfer their personal land to their company as an asset, then sell the company
with the land and avoid paying the transfer taxes.
Q: Can my family and I obtain residence permits?
A: Yes. It is relatively easy to obtain a residence, through a good lawyer. For approximately $1,000 USD, and a few simple medical tests (blood and urine sample and an x ray of your lungs), you can get your residence within 3 months. Please see our BLOG at www.DRParadise.wordpress.com for a complete step-by-step outline.
Q: Would it be possible to legally work in the DR?
A: Yes, with a working permit, or by working for a Dominican corporation through contract.
Q: How may I receive my mail?
A: Mail may be picked up at either the post office or Western Union or at one of the many new pack and ship offices opening up
Q: Can I purchase house hold appliances, such as washers, dryers, refrigerators, etc.?
A: Yes, there are several large appliance and furniture stores in Las Terrenas.
Q: Are there any super markets in Las Terrenas? Do they stock usual products?
A: Yes and Yes. There are several large super markets in Las Terrenas and they stock everything you could possibly need.
Q: Is pest control a problem? Are exterminators available?
A: No. Yes.
Q: Are there English speaking doctors and dentists in Las Terrenas?
A: Yes
Brief Guide to Investing in The Dominican Republic
The Dominican government has created laws to promote foreign investment and there are no laws restricting foreigners from owning land. Before purchasing property, we recommend that buyers retain a Dominican real estate attorney to perform the due diligence required. We can recommend reputable attorneys, their fees averaging 1% of the purchase price.
Buying Property:
- The buyer and seller must sign a “Contract of Sale” before a notary (Notaries in the Dominican Republic are required to have a law degree). The Contract of Sale will contain the legal description of the property, the price and other conditions of sale.
- The Contract of Sale is then taken to the nearest Internal Revenue Office for payment of the appropriate taxes. (approximately 5% of purchase price unless it is a B to B transaction)
- The Contract of Sale and the Certificate of Title of the seller are deposited at the Title Registry Office where the sale is recorded.
- The Title Registry Office issues a new Certificate of Title in the name of the buyer and cancels the old Certificate issued previously to the seller.
Due Diligence:
To start the buying process, the seller should provide the buyer’s attorney with the following documents:
1. Copy of the Certificate of Title to the property.
2. Copy of the survey to the property.
3. Copy of sellers’ identification card (“Cedula”) or Passport.
4. Copy of the receipt showing the last property tax payment (IVSS) or copy of the certificate stating the property is exempted from the IVSS tax.
Once the documentation listed above is obtained, the attorney should address every item on the following checklist before the closing:
- Title Search: A certification should be obtained from the Title Registry Office regarding the status of the property, whether any liens or encumbrances affect it. The buyer should insist that his attorney confirm the results of the Registrar’s search personally by investigating the appropriate files at the Title Registry Office.
- Survey: An independent surveyor needs to verify that the property to be sold coincides with the one shown on the survey presented by the seller (unless the property is located in a previously verified subdivision.) Cases have occurred in which a buyer acquires title over a property some distance away from the one he believes to be buying due to careless work by a previous surveyor or by fraud from the seller. The survey should be checked even when the seller provides a government-approved survey.
- Possession: The attorney should verify that the seller is in possession of the property. It should be ensured that no squatter’s rights of any kind exist. Special precautions should be taken with unfenced properties outside known subdivisions. Fencing them before closing is advisable. If there are tenants on the property, the buyer should be informed that Dominican law is protective of a tenant’s rights and that evicting a tenant is time-consuming and expensive.
4. Employees: The seller should pay any employees working on the property their legal severance up to the time of the closing, otherwise the buyer may find himself liable for the payment later.
Taxes and Expenses on Property Transfers
Taxes and expenses on real estate transactions are roughly 5% of the sale price. This includes a 3% transfer tax, which can be eliminated many times by setting up and/or buying from a Dominican Corporation, a 1% document tax, and fees for registration stamps.
Taxes are paid before the closing at the title registry office.
Purchase of Real Estate by Foreigners
There are no restrictions on foreigners purchasing real estate in the Dominican Republic. The only requirement is, the real estate purchase must be kept on record at the Title Registry Office (Decree 21-98 of January 8, 1998).
Edited text for the Brief Guide to Investing in The Dominican Republic provided by the law firm of Guzman Ariza & Associates.
Conclusion
The question is not whether it is going to be sold or not, it’s only a question of when and to whom. The offer of beach front properties on the booming Samaná market is limited. Meliá Resorts is most likely on the way to conclude a transaction on a 2.1 million square meter (519 acre) property on El Limon Beach. It was the biggest lot available on the market, and there’s a good chance they will try to buy out the other properties on that beach in order to secure the whole bay for their resort. Meliá has developed one of the biggest and nicest
resort complexes in the Punta Cana – Bavaro area, with 4 hotels, a 27 hole golf course and over a thousand residences and condos on the site.
And they’re not alone. Wyndham Resorts, Bahía Principe, Ocean World, the Dye Family, and many others have already shifted their focus to developing on this small peninsula. Even the Minister of Tourism has a huge project underway.
Because of the limited availability of properties on this stretch of beach, the security of any investments made in the area is solid. Once the prime real estate has all been purchased from their original owners, the only land available will be for re-sale, and not much of it.
For the serious investor, we highly recommend moving on this opportunity quickly, seeing the available properties, securing options, completing due diligence etc – these properties won’t wait.
It will be our pleasure to ensure each step runs smoothly in this process, we hope you find this presentation to be interesting and intriguing, the investment potential surely is.
DanDannyDaniel Hussmann
DR Paradise Real Estate
829-644-8094
Las Terrenas new Municipal Park, now we’re getting a marina too.
October 17, 2007 — drparadise
It’s really nice to see how Las Terrenas is moving (slowly) into the 21st Century. We are getting a new Municipal Park, and it’s right on the Atlantic Ocean. I’ll take some more pictures when they’ve finished construction. They look to be about 30% done already! Next thing youknow we’ll have paved roads!!!
Wow! Speaking of moving into the 21st Century!!! Take a look at this! Already our new Golf Course is well under way, now we’re getting a marina too! Las Terrenas on the Samana Peninsula in the Dominican Republic?! Golf?! Marina?! Municipal Parks?! Wow is right! I’ve lived here only 3 short months and I can’t believe all the things I am seeing. Are we going to lose our sleepy little hide away? Well, that seems inevitable! Real Estate in the Dominican Republic could hardly look better!
Whether this is a buyer’s or seller’s market
October 16, 2007 — drparadiseGood day. I’m an investor — I buy & sell lots and land. I’m considering your area, (sic, Las Terrenas and the Samana Peninsula) and I wanted to get your opinion as to whether it’s currently a Buyer’s market or a Seller’s market there, specifically for lots and land [and to what degree, if possible - Strong Buyer's Market, Moderate Seller's Market, etc]. Thanks for your help. God bless and have a great day!
Dear sir,
Thanks you so much for your interest in Real Estate in the Dominican Republic.
About your specific question of whether this is a buyer’s or seller’s market the answer is yes…that may seem glib, but it’s sort of true and I will try to explain.
There is not a lot of available real estate inventory, so that keeps a nice steady increase in prices going. This is a good thing. Things like limited shoreline (there is never enough shoreline), problems with clear title, (we know who, what and where to go here), and the fact that it just takes time to get anything built here (it’s that “Caribbean Clock” thing) - - all these things keep inventory low and that makes it better for sellers…a Seller’s Market.
That said, there is a ton (and I mean a TON) of interest in all things Dominican, and especially Real Estate on the Samana Peninsula. This means that there are new projects sprouting up every day…beautiful things…golf courses, marinas…condos, homes, mountain-top retreats and there is a TON of commercial building starting too. This means it’s better for buyers …a Buyer’s Market.
So does that help? Or does that hurt? What I think it means is a Very Healthy Real Estate Market…great balance and favorable to all. How long can we sustain it? I’m thinking quite some time…many factors line up to keep it balanced. More visitors, more tourists from the US, more interest, more properties getting started, more better title searches, more available money for loans coming on line, and more, more, more equals a nice steady burn.
I’m a Real Estate Broker from Southwest Florida. I have a Real Estate Brokerage office there. All of my agents that are left are working part-time jobs at places like Home Depot! Believe me, I know when a market gets out of balance. I’ve seen the market go both ways. The last thing I want to see is a pendulum shift too far one side or the other. Come on down and get in on this action!
Respectfully yours,
DanDannyDaniel Hussmann
1-829-644-8094
Skype Address – dlhussmann
Who’s Driving the Market?
October 10, 2007 — drparadiseDear Friends,
Lief Simon has been a contributor to International Living since the beginning. He is a Real Estate guru and has investments all over the world. Here he makes some valid points and, I think maybe some not-so-good. Please read his article and my comments in red.
I am at your service!
Who’s Driving the Market?
International Living Postcards–Saturday Edition
Saturday, Sept. 29, 2007
Dear International Living Reader,
U.S. real estate markets are in crisis mode, and one big question on everyone’s mind as a result is: Will the rest of the world follow suit?
My response: Yes…and no.
Many of the economic factors so negatively affecting the U.S. housing market right now don’t exist in much of the rest of the world. While you can get high loan-to-value mortgages in some countries–and you can even get no-proof-of-income loans in a few–most banks in most countries maintain higher credit standards than have U.S. banks for the past many years.
[DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
In the Dominican Republic, cash is usually king. However, banks are coming on-line and offering “conventional” (30 year mortgages at competitive rates) loans. Like Mr. Simon says, higher credit standards are demanded…but they are really smart about it. For instance, one bank will make pre-construction loans but they require a one year “cross-collateralization”. This means the loan is guaranteed by property owned in the US, but just for one year until your construction is well out of the ground.
Furthermore, the rest of the world isn’t compelled to pull itself ever-farther up the housing ladder. In the States, people buy starter homes…which they intend to sell just as soon as possible for something bigger. And so on. In many countries, people aren’t concerned about owning at all. They’re content to rent. And, if they do buy, they buy once. They wait until they can afford the house they expect to live in the rest of their lives. The idea of buying, selling, buying, and selling your way to a McMansion leaves them shaking their heads in dismay.
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
People here in the Dominican Republic are not buying starter homes.
Much of this is cultural. But other, more practical factors play a part, too. Specifically, the big transfer taxes, fees, and stamp duties imposed in many countries (which, in some cases, can amount to 10% of the purchase price or more) help to keep people from playing the climb-the-ladder game.
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
In the Dominican Republic, our transfer taxes are ( 4% ) there are no other fees, or Stamp Taxes…there are very little property taxes, and there are no capital gains taxes if purchased with the correct legal advice, if purchasing in the name of an off shore company, or if purchasing more Dominican Land.
All of this creates generally more stable real estate markets, especially in Continental Europe.
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
And the Dominican Republic, especially here on the Samana Peninsula
Back to the original question…and to get to the point: Housing markets in countries that have been offering easy and high loan-to-value mortgages are going to fall, maybe hard, just like the U.S. housing market is falling.
Countries, though, that have been more prudent in their lending practices needn’t necessarily follow suit…and I don’t think they will.
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
Like the prudent lending policies and requirements here in the DR. We also prudently use title companies like Stewart Title and First American title. Lending companies want to see this as well.
The U.S. economy has been the world’s leader for more than a half-century. Everyone can’t help but wonder, now that it’s taken ill, how contagious the sickness. Certainly, some markets will catch what the U.S. has got. But I don’t think the epidemic or its symptoms will be as bad as many fear.
Indeed, foreign markets driven by U.S. speculators have already been hit. Some of these markets I’m invested in myself, so I’ve watched with interest. My conclusion? They continue to push ahead. The investor/speculator buyers may be thin on the ground (as they are in the US!)…but the vacation-home and second-home buyers have continued in force. They’re coming not only from the States, but elsewhere, as well.
And this now becomes an important factor to consider when evaluating a property investment opportunity. Where are the buyers coming from? Is there a local market (as in Panama, for example, which I believe, as a result, is better immunized against what’s going on in the States than, say, Nicaragua…at least outside the frenzied pre-construction Panama City market)? And is there a non-local market beyond Americans (as there is in Argentina and Uruguay, both of which are of interest to European and Latino buyers…maybe more so than they’ve ever been of interest to American shoppers).
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
Santo Domingo, capital city of the Dominican Republic is one of our best markets. A local Century 21 realtor told me three days ago that rich Dominicans (and there are very many) make up 70% of her clients!
There are also many Dominican Construction companies here in Las Terrenas. They are building condo projects, homes, and commercial space and they are selling mainly to Dominicans from the capital. We have many beautiful new beachfront condos like Palmarie and La Fenice, Another new project is going in right next to our Casino. We have beach front land, mountain sea-view lots and more…and all of these have been bought, built and/or sold to Dominican´s from the capital and all around the country.
Dominicans are investing heavily in their own future!
Investor buying in U.S. property markets was down in 2006. However, the percentage of housing sales in the U.S. attributed to vacation homes last year increased. This makes sense. Vacation-home buyers are typically thinking longer term. They’re not looking to flip, as a speculator would be, in a matter of a few years. They’re buying, generally, something to enjoy through retirement.
All this is to say that foreign real estate markets and buyers are changing. They are not, however, disappearing.
The key is to think long term.
Taking this perspective, you’ll notice (as I am noticing) that many countries make good sense right now for a vacation home buy. Places where there isn’t a local housing crisis, as there is in the U.S. Places where the U.S. market doesn’t drive the local market. Places where there is the possibility, say, of renting out your house or apartment when you aren’t using it.
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
Here in Las Terrenas, we have several “Condo-Hotel” opportunities as well. Alisei www.alisei.com and Colibri www.colibri.com just to mention two. These folks have everything in place and are actually cash-flowing and are seeing returns on monthly income. All this and not mentioning that you get to come, stay, and enjoy your unit a couple months out of each year.
These are condo-hotels where all rental income goes into a pool, and is divided up by owner per sq. ft. owned and amount of available time in rental pool.
We sold apartments to several people last year for $120,000 USD preconstruction and now, those same units are selling for $250,000 USD. We do not advocate “flipping”. In fact, that is the last thing we want to see here…an over-heated market due to a bunch of speculative buying, selling and flipping!.
There are built in fail-safes for us here. For instance, inventory is VERY low. Demand is VERY high. It takes longer to get things built here, and, there is not that much good land (buildable and/or with good title) available to add more inventory. This will likely keep inventories low.
Two places in particular that come to mind may seem unlikely recommendations right now: Paris and Croatia. Even with the euro at an all-time high, these (and other) European destinations can make sense…especially if you can qualify for a local mortgage and are able to earn short-term rental income in euro, as you would be in both Paris and Croatia, for example. (The European can give you further updates on these areas.)
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
This makes no sense to me. The dollar is being devalued more each day. Even Canada has passed us! Why would anyone from the US go to Europe?! The Dominican Peso has stayed steady at about 32 Pesos per Dollar for 4 years.
Other spots to think about include Morocco, where prices are low and foreign mortgages are available; Romania, where ski properties are particularly appealing and inexpensive; and northeast Brazil, which boasts the world’s most prized commodity–inexpensive beachfront.
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
As for these, the only safe place for American’s is maybe Brazil. The Dominican government is staunchly pro-America. Not to mention, the Dominican Republic is only a short 1.5 hour flight from Miami! It’s a “no-brainer”!
Why these markets? Because they’re not driven by U.S. buyers. And, right now, that’s a big deal.
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
Again, he’s lost sight here. It’s not the US buyers that are driving any market. It was and is cheap money with imprudent credit lending practices. You all know what is going on with the sub-prime lending market!
Lief Simon,
For International Living
DanDannyDaniel Hussmann] www.drparadise.com 829-644-8094, or please use my Skype address: dlhussmann
Thanks so very much for your time. My comments are my own and no one else’s. If you would like to see the DR in all its glorious (natural and economic) beauty, please give me a call!
Coyamar Restaurant, Living Quarters and Grounds – Playa Bonita Las Terrenas Dominican Republic
October 1, 2007 — drparadiseCoyamar Restaurant, Living Quarters and Grounds – Playa Bonita Las Terrenas Dominican Republic
Asking price $1,000,000USD. the real value of this charming 1/2 acre+/- parcel is it’s location.
It sits right on the corner of the only crossroads to and from Las Terrenas Samana Paninsula and Playa Bonita. It’s the only way in and out! Also, it is less than 2 minutes to our beautiful newly proposed Marina and another short 3 minutes to Las Terrenas Country Club Golf Course. Call DanDannyDaniel at 829-644-8094 or on Skype at dlhussmann or www.drparadise.com
Luxury Home with Stunning Ocean Views – $US 1,000,000
September 11, 2007 — drparadisePlease visit our real estate web site for more details on this property:
DR Paradise or Caribbean hotels and luxury properties for sale
The drive up to this stunning home is equally as magnificent. You’ll always enjoy the peaceful beauty each time you you leave and again when you return to your lovely home.
Landscaping is lush and varied with hard-scapes, plants and trees.
Lots of storage including garage, laundry and more!
The entry, while inviting, is also safe and secure.
Architecturally, this house is quite beautiful. Lots of extra TLC was provided by the ownersbot before and during the build out.
Imagine this is yours…all yours!
Beauty is in the details.
Spectacular pool provides beauty, inside/outside living and exercise options all in one.
A-h-h-h!!
Inside out…Outside in
What a view! And so close to every wonderful thing Las Terrenas has to offer.
The perfect home for entertaining…or not!
Just the right amount of wood, stone, tile and taste.
Your friends will be so envious.
Note the seamless flow.
Kiss the sky and kiss the sea and be kissed right back.
Water feature provides pleasing sounds. All your senses are are gently stimulated.
Structure in concrete block, re-inforced with iron and infilled with concrete.
Pocket doors with plenty of glass. Open fully.
Ceiling fans are everywhere. Note the inlaid tile in the floors.
Ceiling fans are everywhere. Note the inlaid tiles in the floors.
Roof in tiles…no Canna! Interior of roof in pine.
Side of house – landscaped, there’s even a vegetable/flower garden. Watering points in the 1200m2 (+/-) garden are included.
All pool equipment is below the pool and out of sight. This means ease of maintenance too.
Two more bedrooms on your left. Exterior walls finished with panete and painted.
Kitchen cupboards and wardrobe doors are of tropical hardwoods.
All the nice modern ammenities you could ever want. Stainless Steel refridgerator and range. Six-burner gas stove. Tiled back splash coordinates beautifully with the granite counter-tops.
Modern kitchen is a budding chefs delight. Everything is positioned and laid-out for major production with major ease.
Large center island houses more storage, goose-neck faucet over Stainless Steel sink and plenty of room for laying out your entertainment feasts!
Large pantry and broom closets in tropical hardwood.
This is your view from your large pocket doors, through the openpass through to your gourmet kitchen.
A close-up of your same view.
Now we’re looking from your kitchen to your open, airy ans spacious living room. Your comfort is guaranteed!
OPEN – AIRY – INVITING.
Natural building materials meet cushy comfort under your cathedral vaulted ceilings.
Furnishings are negotiable…
“Honey, let’s just stay home tonight!” No problem, right??
More inside/out outside/in living. Thsi time through your large picture window.
H-m-m, now just where does the inside begin and the outside end??
Relax, get to it.
Entertain yourselves, or your many friends.
Some of the furnishings and artwork are NOT negotiable.
Bathroom sink tops are in marble with tropical hardwood cabinets underneath.
Master bedroom has two dressing areas with warddrobe doors in tropical wood. They also have TV, phone and air conditioning connections.
“Honey, can we just stay home tonight??”
Master bath has large tub, double shower and two hand-basins. Tops are in marble over tropical hardwood cabinetry.
“Can I borrow some toothpaste?”
View of one of the lower bedrooms. Both are alike with in size and shape and matching private bathrooms.
Final Commitment of Title Guaranty
August 3, 2007 — drparadiseHello all – We’re SO CLOSE we can smell the money! ;o)
The letter below is from Mike and Sharon explaining the final title process.
BTW, I think I should tell everyone I got to spend last Sunday on the property with Michael Johnson, his wonderful wife Sharon; Allison, his sweet daughter, and her boyfriend who came down with his mother. I drove my new motorcycle up through the mountains and down the other side with all those majestic views assaulting me every kilometer! It was a gloriously sunny day and I enjoyed every second of my trip. On the way back, I was feted to wonderful sunset views too. I recommend this trip to anyone and everyone!
On Lot A, we had a nice little picnic while sitting in that little roofed-over cabana or cupola or whatever-you-call-that-thing! It was nice and breezy and the waves against the cliffs were crashing. It was easy to imagine ourselves living and playing there. We also drove to Playa Colorado (beautiful! And more on this below!), and then we had another bite to eat in Las Galeras before leaving.
I just want everyone to know, I am so completely and thoroughly impressed with Mike and Sharon and their whole family! Randy Schwickereth is a stand-up guy too though he was unable to join us this trip.
I think these are a couple of the nicest people anyone would ever want to meet…so kind and generous, fun, and also, very smart. I am terrifically happy to be associated with them.
We pretty much walked all over the property …laying things out like…”well, I think a pool would look great here, the restaurant here, the stairs down the cliff-side, the beach area, grassy sunbathing area here…tennis courts, shuffle board…there will be a jogging trail…:. “ We are actually taking suggestions for amenities so if you’ve any ideas, please forward them to me.
It was a really fun day and since I’ve seen the preliminary drawings and I’ve lived in Cabarete East, I could just picture how everything will look. We will be getting to pre-construction pricing as soon as possible. I will be a major player in all the sales and marketing of these. We will be chasing an international market. I think I will ask Michael if I can swing a special “Charter Member” price for all of us…what do you say Michael??? Can I put you on the spot here and now?? ;o)
Michael and Sharon are offering (up to) an additional $280K of their shares in LOT B. They have a couple projects going. Unfortunately (fortunately?) these shares are now being offered at $21/share. This is still a terrific deal – seeing as these shares are worth a good $40/share now and we all know where they will go from here! If you, or if you know anyone who may be interested in a great deal, please contact me asap.
Now, PLAYA COLORADO … Michael and Sharon own two lots here. They would like to keep one and sell the other. They are going to build on theirs. He already has house plans, circular driveway plans, and terraced lot plans (even obtained the dirt for this) for the one lot that they want to sell. As I mentioned, they’re smart cookies. The house plan is terrific…one anybody would be proud to call their own (of course you don’t have to use his plan) and one which is sure to appreciate like crazy.
This is an absolutely stunning area. The huge thing here is one cannot get single family lots here on the Samana Peninsula. There are VERY few available. Usually one must buy 10’s-of-thousands of square meters to get anything beachfront. There is also all underground utilities! Unheard of! Sewer systems too!
This lot sits one lot back from the beach but it is elevated so your views will be unobstructed. And my-oh-my, what views! Left and right and straight ahead…Sharon and I decided it was “visually stimulating”. It looks across a wide bay to Playa Rincon (Conde Naste Traveler 2nd best beach in the world). There are mountains and islands and rocks tumbling into the se, not to mention coconut trees, bamboo and a host of other delightfully tropical flora and fauna.
The lot size is just over ½ acre and he’s asking $280K for the whole thing. The homes going up already are mostly of the million dollar + type so this is an area of awesome opportunity. The ambassador to…oops, I forgot to where…anyway, some ambassador just bought the lot next door.
Like an idiot, I did not take any pictures…oh well, I guess I will just have to take that dazzling drive over the mountain again…anyone want to join me?
Michael and Sharon, if I’ve misstated anything, or if there is anything you care to add about this Playa Colorado Lot, please let me know.
Ed Sparrow – I think the
$15K Michael refers to is from Senor Chandler – please follow up immediately…call me please.
All my best to everyone,
DanDannyDaniel
<<…>> Samana
Michael and Sharon’s letter:
Dear Investors,
We have received the Commitment of Title Guaranty. It is the same as the one we emailed you July 7th. We did not realize the Final Commitment of Title Guaranty cannot be issued until closing. They need to complete all the new shareholder information at closing in order to finalize this and this cannot be sent out until the actual closing has taken place.
This policy has been paid for in full and we do have full title commitment from Stewart Title.
Those of you who have not transferred your investment funds to the attached account, now is the time. Please email us the date and amount sent so we can verify and follow up with individual acknowledgements that we have received your investment and stock conformation into Inmobiliaria Cabo S.A.
Both Sharon and myself are here in the Dominican Republic and are staying till these transactions are 100% completed. Bear with the slowness in paperwork but we are making sure all paperwork is documented and correct.
We have attached again the wiring instructions.
We check email daily so if you have any further questions, please do not hesitate to contact us.
Thank you,
DR Paradise Newsletter
August 2, 2007 — drparadiseThere is not a better time than now to check out the hottest market in the Caribbean.
The Dominican Republic and Las Terrenas in the Samana Peninusla are seeing rapid growth and great new developments. Check out these articles from DR 1 :
Tourism real estate market looks promising.
The tourism real estate market has shown promising signs considering estimates of USD 1.5 billion in investments for this year and an expected investment of USD 3 billion per year within three years, reports Juan Bancalari, president of the Dominican Tourism Real Estate Association (ADETI). Bancalari says that an abundance of real estate developments is positioning the country in a favorable position to compete with Mexico and Central America. Quoted in Hoy, he continued
by saying that traditionally, tourism was just about hotels, but this s no longer the case. He says that the sector has experienced a boom in the last five years. ADETI’s members include Cap Cana, the Roco Ki group, the Metro group, Guavabery, Las Terrenas Beach Resort, the Playa Grande group, Casa de Campo and Rincon Bay.
Travel up 6%
The World Tourism Organization reports that international tourist arrivals worldwide rose by over 6% from January hrough April 2007, representing an additional 15 million arrivals compared to the same four-month period in 2006. This growth is attributed to continuing world prosperity, emerging markets and developing economies in general, especially in Asia. The WTO says that the expansion of low-cost airline services around the world, including the emergence of long-haul low-cost airlines, has been a major factor in stimulating air transport, making it increasingly accessible to a constantly rising share of the world’s population. Interestingly, the Caribbean does not share the higher than expected growth. The WTO says that competing for Caribbean vacationers is the strong offer of cruise lines that have significantly expanded their cruise programs in Europe and the Mediterranean.With thousands of US travelers securing a passport for the first time, the Caribbean could lose out to people who will now have access to travel to Europe. Likewise, in 2006 Asia and the Pacific achieved a volume of international tourism receipts similar to that of the Americas for the first time. The WTO ranks the DR as the 44th in international tourist arrivals by country for 2006 with four million arrivals, only surpassed in the Latin America and the Caribbean by Mexico with 21.4 million arrivals (8th in the world) and Brazil with five million arrivals (37th in the world).
See www.unwto.org
Samana highway details
The Ministry of Public Works announces that 98% of the 106-km expressway linking Santo Domingo and Samana has been opened, with 10% of the thoroughfare already asphalted, the 13 kilometers to the Carretera Mella crossing. The highway is expected to be open to the public as early as January 2008. At the present time, most resources are directed at the construction of 12 bridges. Engineer Armin Ricardo Garcia Acuna, president of Autopistas del Nordeste, the concessionaire, said that the six first bridges will be ready by July, another four by September and October and the rest in December. The funds for the construction will be recovered at three toll booths located at the rossing of Las Americas and Mella Highway, Villa Mella-Monte Plata and Bayaguana-Cruce de Molinillos. Minister of Public Works said that the highway is costing US$151 million and shorten the distance from Santo Domingo to Samana to about the same time an hour and a half time, making that destination’s beach areas as close as getting to La Romana, for instance. At present, it takes about four hours to travel to beach destinations in Samana from Santo Domingo. From the Las Americas Highway to Rincon de Molinillos is 106 kilometers. The distance to Samana is 170 kms by this route.
We hope to see you in this area soon. Let us know when you will be traveling here, and we will help you with all of your hotel reservations. Check out the hottest new hotel in town, fully equipped with First Class Italian Restaurant and Spa with the latest treatments: www.aliseihotel.com
We also have some great listings here!
Check out these Luxury Homes with breath-taking ocean views: http://www.drparadise.com/ob/index.html
Check out our latest listings at: www.drparadise.com and www.drcaribbean.com
For all legal advice we recommend Guzman Ariza Law Firm. Check out website at: www.drlawyer.com.
Founded in 1927, Guzmán Ariza is the first and only national law firm in the Dominican Republic, with offices covering the city of Santo Domingo, the northern part of the island (Sosúa, Las Terrenas, Samaná, San Francisco de Macorís) and the southeast (Bávaro-Punta Cana).
Properties are continuing to appreciate every year. Condos are appreciating around 20-30% every year, while raw land goes up annually 40%. Get in while the market is still hot.
Contact DR Paradise Real Estate for more information: www.drparadise.com. Looking forward to hearing from you!
New Listings on www.drparadise.com
August 2, 2007 — drparadiseWe have added some great new listings on our DR Paradise Real Estate Website. Please check out all of our listings at www.drparadise.com
Some of our new Caribbean Investments we are offering are Rolling Hills with Ocean View just 5 min. from Las Terrenas for $21 USD per sq. mt.
This is a perfect spot for private single family homes, or a large condo or bungalow project.
We also have some great new condo listings at some of the hottest projects in Las Terrenas. Beach Front luxary condos with an on-site Italian Gourmet Restaurant and French Spa for starting at $260,000 USD.
Las Terrenas Real Estate is seeing a big boom right now due to the rapidly growing infrustructure and breath-taking natural beauty of the town.
El Catey International Airport has recently opened offering flights to and from France, Germany, United States, and Italy.
Real Estate in Las Terrenas in the Samana Peninsula will also see growth due to the new highway coming in from Santo Domingo cutting traveling time to the capital city from 5 hours to just 1 and 1/2 hours.
Investing in real estate in the Dominican Republic has never been better.
DR Paradise Real Estate….Who we are
July 17, 2007 — drparadiseWe are DR Paradise Real Estate located at www.drparadise.com. We are located in Las Terrenas, in the Samana Peninsula in the Dominican Republic. DR Paradise Real Estate is owned by Bruce Pierson, American who has lived in the DR for 7 years, and Pedro Jose Bruno, a Dominican Native working in the field for over 9 years.
We specialize in selling all types of real estate available, from raw land to beach front condos and hotels.
We have a great team here at DR Paradise Real Estate. Andreas Heilman, a German broker, speaking 4 languages and stationed in Punta Cana covering the market on the East Coast.
Deiby Martinez, Dominican Native soon to be fluent in English. Specializing in land sales and making great progress in his first year.
Becca Bench, American Citizen, assisting on all sales to American clients, speaks English and Spanish.
Dilcia Bruno, Dominican Native, wife of Pedro Jose Bruno. Dilcia holds down the fort and keeps everything organized in the office.
This is our team here welcoming all Investors looking for Foreign Investments.
Las Terrenas is know for it´s beautiful beaches, boutique hotels and European Restaurants with over 22 km of stretching beach, 47 boutique hotels, and a wide variety of cuisine available.
Check out the great photos of Las Terrenas and the Dominican Republic.
We, at DR Paradise Real Estate, are committed to finding you the right property to fit your requirements. Foreign investing has never been so rewarding and easy!
