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Thread: The Positives about "home ownership on Aruba"

  1. #31
    Senior Member schexc's Avatar
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    Jun 2011
    The Pearl at Eagle Beach
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    We starting looking at real estate on the island in 2011, which was still in the recessionary period, when the housing market was still down. Like act1966 stated, we saw a number of properties that we were interested in, mainly condos, sit idle, at before recession pricing. When sellers grasped what was going on the prices fell and sales picked up. That was around the end of 2015 to early 2016. We finally pulled the trigger at the end of 2016 and purchased at the tail end of pre-construction. Since then the asking price for the same unit has risen 10%. I was just looking at new condo pricing the other day and it appears that the asking price for a number of the properties has risen in the last year and a half, as the housing market has recovered. We made our purchase, as act1966 also stated, for the long haul, which is great advise. Another observation, related to the appreciation of property on the island, and that is supply and demand. We’ll have to see if the demand out paces the continued build up of supply...IMO.
    Last edited by schexc; 02-10-2018 at 11:33 PM.

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  2. #32
    Senior Member act1966's Avatar
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    Aug 2012
    In the pool.
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    Agree with schexc... And the velocity of house versus condo sales is quite different as well.
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  3. #33
    Senior Member robin's Avatar
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    Nov 2016
    Eagle Beach, Oceania
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    We decided several years ago that we wanted to spend the winters here once I retired from teaching as my husband can work from anywhere. We spent sometime around 2013/2014 driving around the island, but in December of 2015 we narrowed down our search by really driving the neighborhoods and knew we wanted to be north of the airport, but did not know if we wanted inland, near the water, great beach, great views, house, condo, save money, spend more-we just weren't sure. In the fall of 2016, we searched the various realtor websites and came up with about 40 properties-condos, homes, near beach, inland-a real wide selection. We came down for 15 days in December of 2016. We had appointments with different realtors. But a funny thing happened. We met a couple the first night a dinner, who were thinking of selling their condo. We said we'd take a look but first had the second realtor take us to two units in this complex so we had something to compare. The prices were well above the top of the budget so we did not have any of them listed on our long list(by this time we had ruled out houses and only wanted to look at condos). We also quickly learned that due to the economy in Venezuela, many Venezuelan owners were very eager to sell compared to properties owned by Americans, Canadians, and Dutch. Both units that the realtor showed us here were Venezuelan owned. We really like the second one even though it was way over our budget. We did see the unit of the people we met, but they weren't eager to sell and we did visit about 12-15 totally properties, before putting in a very low offer(which was at the very top our budget) on the condo we liked. To our shock they accepted with the condition that they get to use it for 2 weeks a year for four years. We signed the contracts on our anniversary the day before we left and came back at the end of March for settlement. We are now here for three months and I still sit here and are amazed that we own on this wonderful island and have an amazing view.

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