A Real Estate Hot Spot

real estate overseas

I spend a lot of time scouting out real estate worldwide. So I can say with confidence that the opportunity to buy well in an up-and-coming beach town for $100,000 or less is something special. An opportunity you don’t see often.

Las Terrenas is that up-and-coming beach town. And, if you’re looking to buy in a beach town without spending hundreds of thousands of dollars, this is a place I strongly recommend you consider.

Las Terrenas is a name that might not be that familiar to you. That’s understandable. It’s not somewhere that’s familiar to a lot of North Americans. But Europeans have been coming in their droves to Las Terrenas for years. They’re who helped to put it on the map.

When the first Europeans came to this town on the Caribbean island of the Dominican Republic, they had to come by donkey. You couldn’t drive here. The roads just weren’t there.

It was largely French and Italian expats who first came. That was in the 1970s. They discovered a tiny little fishing village. One with 19 miles of walkable beach. Just miles upon miles of white sands—and endless expanses of turquoise-blue water.

These days, those beaches are still a big part of this town’s appeal. People come to swim, surf, or kite surf. You can go scuba diving or zip-lining.

Locals made their living fishing, farming, or beekeeping. They lived in little shacks. The expats who first came were so enthralled by the beauty that they were willing to make sacrifices. That included living without electricity. That didn’t come to Las Terrenas until 1994.

Las Terrenas is a far cry from those early days now. For one, there’s a major road leading into it. There’s an international airport bringing flights from around the world less than two hours away.

And in the interim, the Europeans who came have started businesses. You can sip on great coffee here, eat a fresh, ice-cold gelato in the sun, or pick up a straight-out-of-the-oven croissant for your breakfast. If you’re dining out in the evening, there’s plenty of choice from around the world. The last time I was here, I had some of the best lobster I’ve ever eaten in my life. Fresh caught, piping hot, and covered in melting butter.

None of that comes with a big price tag. You can live very well here for far less than you would in similar Caribbean destinations. That’s true even when it comes to real estate. Like I said, with a budget of $100,000, you’ll find a lot to own in Las Terrenas.

For that $100,000 (or less), you can pick up a comfortable condo in an older building. I’ve seen places on offer for $80,000. That will net you a condo just a little back from the beach—but within easy walking distance.

You could choose to live there full-time. Or, if you’d prefer to live part-time, you could rent out your place to vacationers when you’re not using it. The short-term rental market is strong here. There are no big hotel chains in Las Terrenas. The vacationers who come tend to stay in a little boutique hotel or rent out a condo like yours.

If you go this route, I’d recommend investing $20,000 to modernize your condo. That will help it appeal to the widest range of vacationers you can. For that investment, you could potentially see a strong rental yield. Vacationers will spend up to $100 per night to stay in a condo like yours.

Double your budget and spend $200,000 (or less) and you could do even better if you decide to rent your condo out. For that, you could get a condo a stone’s throw from any of Las Terrenas’s best beaches. You could rent a newer condo near the beach for up to $250 per night during peak times. If you manage to rent yours out for just 100 nights of the year (and use your condo yourself when you’re not renting it), you could potentially see a gross yield of $25,000 a year.

To appreciate the opportunity that’s on offer here, I recommend you get down to see Las Terrenas for yourself.

 

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About robertjrussellcompanies

International Real Estate Agent * Insurance Broker * Radio Talk Show Host * Public Speaker * find out about me - visit http://www.robertjrussellcompanies.com
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