Recently I got back from my two week trip to the Dominican Republic. I was really happy to be able to make videos again and get into that mode.
But what I'm even happier about that I was able to get done on the trip was checking out some apartments that I had previously been looking at online.
I visited three different physical properties in Sosua and one realtor who had two projects that would be completed in 2025 in Puerto Plata.
During those visits there are a couple of noteworthy things that I learned and observed.
African Americans Run Sosua
The first property I visited was called Carnival Apartments located right across from Hotel Europa.
I was attracted to that place because the prices were very low. They had apartments between USD $25,000 - $45,000.
But when I saw the apartments I realized why they were that low. They weren't really bad necessarily, but it lacked a certain quality. They almost seemed like man caves, which is fine, but something about it I just know I wouldn't want to invite any chicas back to that spot.
Something that I did take away from that visit though was a conversation with the real estate agent and the owner of the property.
For whatever reason we were talking about the diversity of Sosua and the real estate agent commented that some 20 or 30 years ago there were more Europeans pumping money into Sosua, but that now it's the black Americans who are really keeping Sosua afloat.
Having lived in Sosua for 7 months in 2022 that statement didn't really surprise me, but was reassuring in the sense that as a black man it is a great time to invest in Sosua and Puerto Plata, because it is becoming more of a haven for African Americans everyday.
25k - 40k For A Nice One Is A Wobbler
The second property I visited was Hotel Plaza Europa. When I met the real estate agent she informed me that the apartment that she was going to show me just had been sold that day.
The place she was going to show me was basically like a room more than a studio or apartment, but the asking price was USD $45,000.
However there was another studio available in the same building for $55,000. So I checked it out and it was way better than the first property mostly just because it was cleaner, put together better, and I'd definitely feel okay having a chica or two come over.
Now the price of 55k in the Dominican Republic is high for a studio apartment. You can definitely find a two or three bedroom place for that price, but that's more of in the real local areas.
Overall just from what I learned from the real estate agents I talked to the cheaper apartments for purchase in the Puerto Plata and Sosua area are going to be around the price range of 45 - 70k.
You can find some great places under that price range, but those properties will probably be in more local areas.
Personally, if I was looking to buy a place because I want to live in that property for a long time it wouldn't really matter if it was in a local spot or near more foreigners.
But right now I am looking for a spot that can eventually build some passive income so location is everything.
Playa Dorada
The last bit of noteworthy information that I gleamed from one of the real estate agents is that Playa Dorada is definitely the place to buy in Puerto Plata.
She told me the market was kind of stagnant two or three years ago, but that right now properties are selling like hot cakes.
I didn't exactly ask her why that was the case, but I imagine with other real estate markets around the world and particularly in the US not looking so great, there are more people looking to purchase quality property for a cheaper price abroad.
Playa Dorada is a great spot, because it's its own great and gated community in one of the best cities to live in in the Dominican Republic.
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