A sincere thanks is going out to all of the folks who sent in inquiries about our Montaña y Mar Phase Two community. It’s been just under two weeks since first unveiling the 16 parcel community and to say we’re overwhelmed by your response would be a serious understatement.
Considering the current world events and how they’re restricting so many things, makes this positive acceptance even more appreciated! The travel restrictions have definitely taken its toll on the GDP of the Dominican Republic. We’ve suffered roughly a 75% reduction of tourists arriving year over year! After all we are for a good part a tourist based economy.
I’m so happy to announce that three of the sixteen lots have already sold. Lots three, ten and five are the first three slated for contract and why not? We’re offering excellent terms. With only a thirty percent deposit those who acted have locked in place some of the highest quality land the North Coast has to offer. The outstanding balance of 70% is due in one year. Sellers carry all interest charges for the year. That’s right interest free for one year. When I look back it amazes me that phase one started selling somewhere around twenty three dollars per meter and now some lots are as high as fifty. That’s a ROI of about 18% per year over a six year period!
In these volatile times it only makes sense to reallocate a part of your excess portfolio into a tangible. In many cases better yet if it’s in a foreign location. No one should have all their eggs in one basket. For those wanting to relocate internationally time is not on your side. Every month the restrictions are becoming more severe. Due largely to the lockdowns we’ve just entered into a decade of shortages. This won’t be on account of demand but rather it will be driven by shortages. Remember almost no one was working. It’s only history repeating because we will never change. It’s always best when you’re living amongst the food. Think about it. Until next time, Barry in DR.