Valuing property in Punta Cana can be a more difficult since at the moment there is no MLS benchmarking system to base prices on.
This can create a huge divide in the market, as agents set the prices with only the developers original pricing, and their commission structures to work from.
But just because there is no local benchmarking system, doesn’t mean that prices don’t fluctuate in line with global market conditions. In fact, in line with the global financial crisis, the property market has suffered in Punta Cana for the last five years. It is only now starting to see an improvement.
It is important when having your property valued to understand that real estate in Punta Cana is just like anywhere else in the world. Your much-loved condo, even with all of the time and money you have spent on it can still only be valued at a negative value if the global market is facing difficult times. All properties also have a ceiling price, no matter what your personal investment has been.
Unfortunately, too many condos in Punta Cana have been given unrealistic asking prices, which is creating a stall in the movement of property here. There can be a huge difference in prices on condos in the same development, simply depending on the agent it is listed with. This then creates confusion and frustration amongst buyers and sellers alike!
With disposable income at an all time low, buyers really are pushing for the best possible deals, and will simply rule out an overpriced condo without even looking at it. This means many beautiful condos are sitting waiting to be sold, instead of being enjoyed by happy new owners! Only once property is valued correctly, will it actually sell, thus improving market conditions for the area as a whole.
The team at Punta Cana Lifestyles Real Estate only give honest and realistic property valuations. We also ask that certain conditions be met before we take on a property in order to honor our commitment of quality and integrity to both sellers and buyers.
To give you the best possible chance of selling your condo, we use our expert, professional knowledge to give you the price that you are most likely to realise from your property. Once we have valued your property, we market it across hundreds of local and global digital platforms to ensure maximum exposure. Our sales record speaks for itself, and every sale we make we celebrate.
We take pride in the knowledge that we are leading the way in creating a Punta Cana Real Estate market that will rival any other in the Caribbean. We welcome you and your condo to join our list of success stories!