Beginning in 2010 and now extending vigorously into 2011 we are seeing a sudden resurgence in property buying interest from American buyers. For a couple of years the American television media had many people convinced the sky was falling and economic health would take a generation to return, but as usual predictions of American economic failure have proven dramatically overstated.
In the past few months Canadians and European buyers have continued their steady, reasonable assessment of the north coast and contracts to purchase nearly tripled this past year over last. Now, joining this enlightened wave of value conscious shoppers we suddenly see American interest showing enthusiastic revival, especially since for years most Americans rarely looked past Punta Cana when considering Dominican destinations—the north coast has now been re-discovered.
The reason for this shift is two-fold: 1) buyers from The United States now feel more confident today than in the past couple of negatively hyped years; and 2) the message has finally reached mainstream US interest that the DR north coast (Cabarete and Sosua) is the best place to acquire part time tropical residency properties.
2011 will show shrinking inventories due to conservative building over the past two years, but prices at this current moment still offer a genuine value buying window of opportunity. Smart people looking to diversify assets out of mere paper holdings are staking a claim to the Baby Boomer influence now enriching Caribbean real estate markets. The attractive pricing, accessible international airport of Puerto Plata, and continued infrastructure investment here by the Dominican government are validating the wisdom of that strategic investment vision as interest surges.
To those of you making the trip to the sunshine this winter to find your tropical paradise, congratulations; to those of you still deciding, it’s time To Do Something Soon.
Here are some ideas that are getting lots of interest right now:
http://www.coralbayrealestate.com/search/show.php?id=1793 listing id AP6097AB
NOTE: Here are the three complexes featured in our recent House Hunters International Dominican Republic episode
http://www.coralbayrealestate.com/search/show.php?id=1345 – Listing id AP6052AB
http://www.coralbayrealestate.com/search/show.php?id=1817 listing id HG6046AB
Hope to see you soon in our little corner of paradise. Feel free to contact me for more real estate options in the area.