Housing prices soar since 2018

Santo Domingo.-  Houses that cost between 1,750,000 and 1,800,000 pesos, (US$62,000) in 2018, currently reflect increases close to 100% due to the impact of the raw materials used by the sector.

“These same homes that we are placing at 3,500,000 and 3,700,000 pesos are the same homes that we placed in 2018 at 1,800,000 or 1,750,000 pesos,” explained the president of the Dominican Confederation of Small and Medium Construction Companies (Copymecon), Eliseo Christopher.

He said that, at the beginning of 2021, the small developers “assuming some costs,” were placing and delivering them at 2,250,000 and 2,249,000 pesos, “but right now the sales that are going to come out of those homes are 3,500,000 and 3,700,000 pesos, with an increase extremely wide.”