Property for sale in Santo Domingo de Guzmán

Santo Domingo de Guzmán is the capital of the Dominican Republic and also the biggest city of the island, situated on the south coast with one of the most important harbors named Haina. Get more information on property for sale in Dominican Republic

2/ Views on the Santo Domingo real estate :

Just as in any growing city, Santo Domingo is expanding, primarily to the north and to the east, towards the airport. As a result, smart investors might want to buy inexpensive land on the fringes of the city and wait for the city to come to them. This is in fact when happened in places like Los Angeles, during the boom period of the 1950's to the 1970's.

While properties in the city center of Santo Domingo might still seem reasonable in comparison to North-American cities, such as Denver, Toronto, Seattle or Chicago the fact is that prices have come up. This in part has been a function of the economy (one of the fast growing economies in Latin America) and also demand as many Dominicans are now moving back from New York and elsewhere.

As a result, the real bargains are to be found on the outskirts. As an example, new luxury 1,400 square foot apartments in the city can be purchased for about US$75,000 and up (2 or 3 bedrooms plus maid's quarters, 24-hour doorman, intercom, off street parking, etc.). Small new homes in residential tract developments will start off at about US$ 60,000. However, one can purchase a 1-acre building lot within 15 minutes of the city for about US$24,000 and build what he likes.