International Living Articl re the DR written 9/07
With prices so low for a view like this…does it really matter if the lights go out once in a while?
There is no one-place-fits-all paradise, no one destination that is perfect for everyone reading this…but the Dominican Republic comes pretty close.
I’m certainly finding this to be true. I’ve only lived here for a little over 3 months now, but I’ve been here probably 250 days this year. I’m not lacking for anything here…all the creature comforts one could ask for in a stunningly beautiful locale.
The beautiful coral-rimmed island of the D.R. has great weather and world-class beaches, not to mention a low cost of living and a stable government, within a short travel time of the U.S.
The Dominican Republic is a very stable government now. It’s is backed strongly by the U.S. and the U.S. will see to it that it stays that way. They will not allow another Cuba or Venezuela in their back yard so they cultivate great relationship through many different programs.
American travelers are very popular here.
In fact, the country has so many advantages for a second-home buyer…that you may wonder why property bargains still abound. Here’s the answer: A few years ago the Dominican Republic had the fastest-growing economy in Latin America and the Caribbean. But a banking crisis put the economy into a tailspin, causing the D.R. peso to plummet from 16 pesos to the U.S. dollar in 2000, to 54 pesos in early 2004. The peso has now recovered somewhat and recently traded at about 34 to the dollar.
It’s traded now at about this same price for about 2 years or so. Real Estate is really cheap here. Especially if you are comparing it to most other places in the Caribbean and absolutely if you compare it to the U.S.! Tax structures are so cheap it’s almost laughable for those of us from SW Florida and other parts of the State…probably the whole U.S.!
Bruce and I talk all the time about how one can live like a King or Queen here for $2,000 – $3,000 after your housing expense. I mean maid, gardener, cook…the works!
Plus, issues such as persistent electrical power failures have deterred property shoppers. However, the D.R.’s new investors are combating this by seeking buildings and developments with on-site generators. A renovated one-bedroom, one-bathroom apartment overlooking the pool in a popular condominium complex at Sosúa (within walking distance to shops, restaurants, bars, and beaches) comes at a price of $66,500.
These prices are getting harder and harder to find. It’s being done, but one really has to know their way around. That’s why it’s important to use somebody like us here at DR Paradise Real Estate in Las Terrenas Samana Peninsula Dominican Republic.
The northern coast of the D.R. has long been the country’s most popular spot for tourists and property buyers. Some of the finest beaches in the Caribbean are the big attraction, but the North Coast also has fine dining, exciting night life, colorful culture, lots of sports, and friendly residents. Condominium apartments are available on the oceanfront at Cabarete, offering a seaview and a stretch of beach only 100 yards away. Units have granite counter-tops, coral stone wainscoting, imported porcelain tiles, and top grade stoves and refrigerators. Other amenities include a pool, laundry facilities, backup generator, 24-hour security, and parking. Price: $79,245.
The north coast is our stomping grounds…especially the Samana Peninsula. I know Cabarete pretty well too and I’d like to know where this condo is. I have an idea, and it’s probably there, but I would not want you to come here thinking there are going to be tons of choices for you in this price range. Why don’t you call me and we’ll talk?!
Skype Address – dlhussmann