Small builders worry as condo prices ‘skyrocket’

Santo Domingo.- The rising prices of construction materials have forced the members of the Dominican Small and Medium Construction Companies (Copymecom) to halt their works as houses that were selling on blueprint during 2020, today cost up to RD$300,000 above what was agreed.

“We cannot deliver apartments, nor build apartments, but much less return the money because they are already invested,” said Copymecom president Eliseo Cristopher.

He cited as an example to Diario Libre, that “apartments that we had at RD$1.9 million are now at RD$2.4 million compared to 2020. Apartment prices have skyrocketed.”

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