Hello ThomasG

In fairness, I have been informed licences would be in place in a couple of weeks for many months, however, I am optimistic that it should be sooner rather than later.

My own opinion, and I`m no expert, is these property`s will only increase in value as the development gets under way.

We have reserved a 2 bedroom apartment on the marina (we reserved in Sept 06) and finally at the position of paying the 30% deposit. However we were told the inspection trip beach huts would be completed for February 07 and were shown pictures of the new access roads. However we have never received photos confirming that these huts have been completed. We have also been told that no construction will commence until the tax law has passed in the DR allowing construction works to be undertaken avoilding any VAT or something like this.

We are very concerned that this development may not actually ever start as there seems to be a lot of conflicting reports on different websites.

We are now concerned about proceeding as the 30% is not garanteed against anything

The owner is not in prison, Carlos Sanchez did origionally have an interest in the land, but is not involved in the development. There has been a shake up in the promotion and development company, with questionable reputations removed. Also, the 8% option is for 10 years not 5, you can opt out after 5 if you want. 

The mortgages I have enquired about, are sourced in UK and in Spain and also have sourced a Japanese Bank willing to lend! Don't think I will go there however.

I enquired today and there are 30 properties left on the Marina and about 20 on the Beach front properties on pre release, there are however a number of prime location sites Not released, therefore the 25% increase will be applied to these, and subsequent releases.

But Cap Cana is fully into build, with one golf course already complete. I know most Marina units are sold. Also I was told one of the owners of Punta Perla is in Prison in Spain! Don't know whether to laugh or cry!

Punta Perla do not pay your mortgage for you they give you 8% guaranteed rental for the first 5 years which should cover your guaranteed mortgage whose term is 7% over 15 years. Thats where the trap may be! After the first 5 years they don't have to agree to another rental contract, and you have to carry on paying that big mortgage for another 10 years.

I am keen justify prices of $500,000  for an apartment in DR. Compared to other caribbean property this is cheap - but this is DR, I know they will have Marina views and 3 signature golf courses - but is it really an emerging caribbean market? Will we be able to re-sell quickly and make a profit.

I think Punta Perla is mostly sold out of Marina and beach units which begs the question why put up prices by 25% in December.

hi,

i am thinking of investing in one of the 1 bedroomed cheaper properties. 199,000 dollars. am new to this but it seems too good to be true.

pay 30%, nothing for 2-3 years then they'll pay your mortgage for you and after that it's yours.

that just can't be it?

any views/knowledge on this greatly appreciated

Did any body travel out to see the resort??

How much of the development has been sold so far.

Cap Cana has fallen in to financial trouble and it turned out to have had no planning permission#!!!!!

How can we check this one out?

Regards

Richie