Las Terrenas' real estate offers incredible value. Because of that, you can buy a condo or townhome in the town center for $100,000 or less. That will net you an older property in need of a little updating away from the beach.
Or you can buy a brand-new condo close by to the beach for under $200,000. I'm excited about the Los Cocos development in Las Terrenas, Dominican Republic. It offers one of the best opportunities to buy that I'll like to tell you more about if your interested in international real estate investing.
Las Terrenas, Dominican Republic
It's beach is one of my favorites in the world. Clear blue waters lap the white, virgin beach. Palm trees shade you from the bright sun. It feels pristine and untouched by development. Savvy travelers agree and rate it highly. The location cannot be beat. It's a five-minute drive from the town of Las Terrenas, so you have easy access to the nightlife and restaurants when you want it, but peace and quiet to enjoy the beach otherwise.
Or, from the Los Cocos development in Las Terrenas, you can walk along a boardwalk until you reach another pretty beach. There, you'll find quaint restaurants and bars where you can eat a satisfying lunch or dinner or have a cool beer.
On site in Los Cocos, you have a wealth of amenities including an Olympic-sized pool (with bar service) that overlooks the beach. There's a clubhouse, a children's playground, and a grilling area. Whether you're looking for a vacation rental property or a second home overseas, Los Cocos fits the bill.
And, despite the growing interest in Las Terrenas, the pricing is seriously affordable. You can buy a good condo for less than $200,000. Spend a little more and you can get a penthouse that overlooks a communal pool.
There are six buildings in the Los Cocos area, with three stories in each building. As with the rest of Las Terrenas, the development here is low-rise and low density. In total, there are 36 units, all with two bedrooms and two bathrooms.
For $198,000, you can get a 1,077-square foot, open-plan condo. That condo will be delivered in November 2016.
Or, spend a bit extra—$240,000—and you can get a penthouse condo. It's larger than the $198,000 condo at 1,626 square feet. But the biggest appeal is the rooftop space that comes with each penthouse. That gives you an extra outside space of 538 square feet—perfect for a barbecue or a Jacuzzi. And because of a high ceiling, you have the option to add on an extra bedroom or a mezzanine.
Whatever choice you go for, you get high-quality finishes: granite counters and porcelain floors. You get a fitted kitchen, washer dryer, a fridge and stove, and air conditioning in the bedrooms with either condo option.
You don't have to pay the entire cost up-front. The developer is offering financing on 50% of the price.
At that price, it's a buy—the strong rental income I told you about is icing on the cake. Vacationers will want to stay in your condo. They'll pay you up to $250 a night to do so.
I recommend you move on these opportunities fast.
And as word continues to get out about Las Terrenas, I expect prices will rise. Close by, a similar condo a little closer to the beach will run you $335,000. When you see the beach two minutes' walk from your condo, you'll understand why.
Happy International Real Estate Investing!