The Real Estate Market on the North Coast of the Dominican Republic - 1st Quarter Report

The Real Estate Market on the North Coast of the Dominican Republic - 1st Quarter Report...

Simon Hall of RE/MAX in Sosua has completed his 2008 first quarter report about the real estate market on the North Coast of the Dominican Republic.

Here is a little of what Simon has to say. You can read the complete report in the "Buying Island Property" section of http://www.realtyofthecaribbean.com/

After a year of steady price growth in 2007, many realtors looked to 2008 with some trepidation. Markets around the world had started to look “twitchy” especially in the US where substantial price falls were being reported. To date these concerns seem to have been unfounded, as our market seems to have continued to show volume and value of sales continuing into the year.

For Sosua, last year was the year of Residential Hispaniola; a gated villa development built on land just a stone’s throw from the town centre. Within little more than a year we have witnessed the construction of dozens of new villas and the sale of close to 100 lots. Looking ahead another year, the first phases of the project will be completed and once that happens the rental pool, and most of the initial building work will be completed. By then I would expect to see considerable price increases in the next phases.

Cabarete also saw the completion of a number of projects good examples are the Ocean One and Harmony developments. Both produced near spectacular price increases for early investors.

http://www.realtyofthecaribbean.com/ is a great online resource for home buying, home selling, and property listings in the Caribbean.