Dominican real estate market embraces low-cost housing

Santo Domingo.- Dominican Republic’s real estate market has done an about-face in the last seven years, expanding the low-cost supply that benefit thousands of families “thanks to the incentives granted by the State”.

Mortgage Market and Trust Development Commission director, Lena Ciccone highlighted the transformation of the housing sector in recent years.

“The supply of housing throughout the territory did not exceed 10,000 in 2012, almost all of it is expensive. Only three builders worked low cost housing. Today we have more than 100,000 homes, 10 times more, with 200 developers participating throughout the territory,” she said.

Ciccone reiterated that unlike before the Dominican Republic has an effective offer, accessible to a good part of the population.

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