Good 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!
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!
Skype Address – dlhussmann