House Hunting in … the Dominican Republic

More foreign tourists fly in to the Dominican Republic than any other island in the Caribbean, though the Bahamas receive just about as many tourists on cruise ships. Over the past decade, the country had a building boom, much of it fueled by foreign buyers. Because most of them still pay in cash, the economic crisis has not generated a significant number of foreclosures. Even so, it did push prices down by about 20 to 25 percent, Mr. Houisse said.

The amount of new development, too, has fallen, by 70 to 80 percent, as a result of skittishness about global financial troubles, said Sandy Parekh, broker-owner of Remax Coral Bay Realty. “A lot of people that were going to develop projects have all put them on hold,” he said, “and there’s still very few projects that are starting at the moment.”

Prices, however, have now stabilized, and the market for the few available new homes is strong, said Philip Weiser, managing director of the real estate agency Carlton International. “The market for resale properties still has to recover,” he said. “There are many middle-range products remaining on the market, but quality properties sell very well.” Read the full article on the NY Times.

Villa in Sosua gated Community

Here’s your chance to own a spacious villa in paradise at an affordable price. The 3 bedroom/2 bath home in Sosua  has recently been upgraded to top of the line finishings and furniture. The main level includes an open living kitchen area, bath, 2 bedrooms and large terrace. Upstairs is a bonus loft/office area, master suite and another large terrace with your own private hot tub. Don’t miss the oversize pool and over 1/4 acre lush tropical gardens. This villa is a great investment as a vacation getaway or full-time residence and is located in a very popular devlopment. Current plans include a new on-site restaurant, store, children’s area, putting green, tennis court, and clubhouse. Visit our main website at Remax Dominican Republic for more villas for sale in the country.

Sosua villa – Walk to the beach

Located just a few minutes walk to on of many of Sosua’s beaches, and just 100 yards off the ocean, this two level Caribbean styled villa is in a quiet upscale neighborhood, but with no HOA Fees.

At ground level there is a private one bedroom studio apartment. The second level has another 2 bedrooms each with ensuite baths, open living, dining and kitchen area. A large terrace overlooks the grounds and pool.

For more information or to make an appointment to view this property, contact us now at Remax Dominican Republic