Saturday, May 13, 2006

Looking for an Apartment?

Been going to see a lot of apartments and house for sale and rent in the Colonial Zone. I thought I would start putting some of the pictures here. Here is a 3-bedroom/2-bath condominium for sale (asking RD$3,100,000) and rent (RD$13,500).

18 comments:

Anonymous said...

$13,500. pesos! That's a bit over $400US in the Colonial Zone for a 3 bedroom, 2 bathrooms apartment! Damn! Not bad at all. I hope these prices hold until I can retire next year! Anthony, you can be my real estate agent.
From Puerto Rico,
Rafael

Nena said...

and $94,000 USA for the purchase,if i'm right. i agree $400/month is great...

cono Rafael lucky you in retiring!

LOL i'm still working on Mega/lotto!

Anonymous said...

Yeah but can you sell it? Who's going to buy when you're ready to sell? Better to rent

Anonymous said...

a lil too steep for the dr for a condo, so you calculate$94G USa r u protected in owning? i agree with the last blog, who will buy or rent it if u need to sell?
have to have that much cash on hand because not many american banks will loan you that much to buy in the dr, i checked and i have a FICO score of 800 which is a great score for lenders
nena give up on the lotto :)

Anonymous said...

A couple of things about the real estate market in DR and SD in particular.

1. As anywhere, location, location, location.
2. There is a building/renovation boom throughout the island.
3. Unless it's a temporary situation, you will always make out better owning property rather than renting.
4. Title search. and every minor detail and negotiated point in writing.
5. You can get financing in DR through DR banks. The interest rate is high but doable.
6. Asking prices are just that. There are many properties "for sale" at ridiculous prices just to see who will bite.
7. This is a great opportunity for black gay americans to invest in property and consider how and where we want to retire.
8. Real Estate is still one of the best long term investments you can make. Think globally. Think long term.
9. Don't miss the boat.

Anonymous said...

To the previous poster:

About this comment:
7. This is a great opportunity for black gay americans to invest in property and consider how and where we want to retire.

Why is it only a great opportunity for black gay americans? I think it is a great opportunity for anyone of any race or class or religion...just a thought I would point out...

So that most of you know...not only gay black americans read this blog...I know several hispanics and white people who read it daily..

Anonymous said...

Good point. I was speaking from my own perspective. It's a good investment opportunity for anyone who can take advantage of it.

alejandrocortijo said...

to poster # 6 there are black white native american and asian hispanics though most are mixed most in dr and puerto rico are mixed

Anonymous said...

What DID alejandrocortijo say? Anyone?

Anonymous said...

What DID alejandrocortijo say? Anyone?


Ditto...I do not understand a word he said. It doesn't make any sense.

Anonymous said...

Maybe a few commas and full stops will help. Something like this?

"to poster # 6: there are black, white, native american and asian hispanics. Though most are of mixed bloog in the dr and puerto rico."

I assume he meant that being hispanic is cultural, more than a particular skin color or ethnicity. Just my guess.

Anonymous said...

vkyawfhmRegarding the post about title search and other potential mine fields when buying property in the DR, thios is VERY important. Look at a previous blog topic Anthony posted. There is one good Q&A in the comments section about due diligence when buying in the DR.

I agree, it's potentially a great opportunity, just be sure you're aware of all the local laws and customs when considering buying in another country. All I'm saying is, don't assume that all the standard North American concepts will apply.

Anonymous said...

Whew!! I am glad to read that as a caucasian American that the real estate deals are good me also!!!

Anonymous said...

Some posters have brought up excellent points to be aware of in case anyone is thinking of buying a house/apt in SD. Buying from an individual owner seems to be quite a risky proposition because it seems that everyone is out to take the gringo for all they can. There are a lot of loopholes and fine print in Dominican legal transactions. Another major issue was already posted, "Who's going to buy when you're ready to sell?" When the time comes to sell, the only people that will be able to buy will be other gringos. The Dominicans won't afford it. Seems that there would be a problem here. Let's face it, the majority of people who have the financial ability to buy (a second) property are no spring chickens, myself included. I figure that after retirement, I will still have some good years to enjoy before something swells,, bursts, or stops. So, I will probably rent and when the time comes that I get old (like tomorrow...), need medical care, and the comfort of family members, I can just get on a plane and move back to US, PR, or wherever. All opinions are welcome!
From Puerto Rico,
Rafael

Anonymous said...

Thanks Rafael for you comments as they are really where it's at!
The DR1 site offers some great advice and if you're at retirement age, as I am, renting still seems the best option. The inheiratance laws in the DR are draconian.

Nena said...

I would love to retire in Puerto Rico (my homeland)but the condos in the major cities are so expensive especially close promity to the beaches/Isla Verde/Condado. Would love the other end of the island/Mayaguez/Ponce/Aguadilla But again, I would also enjoy another Hispanic culture close to mines (Dominican)and the tropics, the sun and beaches NOT to mention the breath taking looks of the DR men. As one other poster did, I checked with my bank, Banco Popular, who is now separate from Banco Popular of Puerto Rico and it was not the best feed back (and my credit rating as the other poster is high)
Rafael, get the 3 bed room and I can rent one of the bedrooms, jejejejejeje...tu sabes~

5years to go to retire with a pension NOT social security, LOL LOL just in case~~
Nena~

Monaga said...

For those who think all apartments here are cheap, take a look at this:

http://www.sothebysrealty.com/PropertyDetails.aspx?R=4100000889

Anonymous said...

To Nena,
Sorry! I can not share an apt. with you because you would hit on my buggies!! LOL!! Take care.
Rafael