Monaga: Looking for an Apartment?

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).

17 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; Sat May 13, 02:17:00 PM
Nena Nuyorican 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!; Sat May 13, 08:31:00 PM
Anonymous said...: Yeah but can you sell it? Who's going to buy when you're ready to sell? Better to rent; Sun May 14, 03:56:00 AM
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 :); Sun May 14, 11:17:00 AM
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.; Sun May 14, 12:15:00 PM
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..; Sun May 14, 10:03:00 PM
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.; Sun May 14, 10:17:00 PM
Anonymous 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; Mon May 15, 10:56:00 AM
Anonymous said...: What DID alejandrocortijo say? Anyone?; Mon May 15, 01:03:00 PM
Anonymous said...: What DID alejandrocortijo say? Anyone?

Ditto...I do not understand a word he said. It doesn't make any sense.; Mon May 15, 06:57:00 PM
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.; Tue May 16, 02:43:00 AM
Anonymous said...: Whew!! I am glad to read that as a caucasian American that the real estate deals are good me also!!!; Tue May 16, 05:16:00 AM
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; Tue May 16, 01:36:00 PM
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.; Tue May 16, 02:09:00 PM
Nena Nuyorican 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~; Tue May 16, 06:07:00 PM
Santo Domingo Colonial Zone Apts said...: For those who think all apartments here are cheap, take a look at this:

http://www.sothebysrealty.com/PropertyDetails.aspx?R=4100000889; Thu May 18, 10:34:00 AM
Anonymous said...: To Nena,
Sorry! I can not share an apt. with you because you would hit on my buggies!! LOL!! Take care.
Rafael; Sat May 20, 10:56:00 AM