The launching of the $1 billion condominium development in Dominican Republic is a positive development warmly welcomed by the real estate sector. Real estate developer Group Metro launched the project recently in Juan Dolio and Santo Domingo. Tagged as Costa Blanca, the 300-acre coastline development in Juan Dolio includes encompasses 52 private villas, ten condominium towers, a tennis village as well as tennis and gold club houses, a private beach, a marina village with retail and commercial space, a mega-yacht marina, and the country’s first ever Greg Norman PGA gold course.

Top designers and architects have been commissioned to ensure that the project will not only be modern and private but…

Real estate prices and interest rates may have been reduced but these factors did not make ownership of a condominium easier. Condominiums are considered ideal investments but it is still very difficult to buy a condominium these days due to financing problems. The increasing number of speculators and the dropping prices of condominiums are among the reasons why some financial institutions have blacklisted some condominium complexes.

In his report, Dan Grech said banks and government backed Fannie Mae in the states of Florida, California, Nevada and Michigan refuse to provide financing even to buyers who are credit-worthy if the money will be used to purchase condominiums in complexes identified with high…

Even Long Island has been hit by the real estate crisis as indicated by the reduced prices of high-end condominiums in Suffolk and Nassau counties. The highest price paid for a condominium in Nassau has been reduced from $1.280 million during the first quarter last year to around $1.055 million during the same period this year. On the other hand, the highest price paid for a condominium in Suffolk also went down from $770,000 during last year’s first quarter to $677 during the same period this year.

The price of homeowner association units which are located in communities where a deed to the land has been awarded to the homeowners also…

The real estate crisis has left many Milwaukee condominiums in the sidelines waiting for buyers. In the meantime developers have stopped building new condominium units while waiting for the real estate industry to recover. Canterbury Realty LLC broker Jeff Scrima said among the projects on hold while there is an uncertainty in the market includes the 14-unit Garden Prairie condominiums by developer Dan Kitto in Waukesha. A total of 10 units are either completed or under construction but the remaining four units will have to wait.

Scrima and the other developers-partners have planned to break ground this May for the 96-unit Capernway project in Waukesha but such plan has remained on…