In the first half of 2023, the pace of sales of finished real estate in the capital region of the Dominican Republic slowed down, falling from 1.9% to 0.5% compared to the same period in 2022.
According to a report by the National Statistical Office, as of June, the total area of real estate under construction in the country amounted to 5.6 million square meters, including 82.7% residential, 6.5% retail space, 3.5% educational institutions, 2.7% buildings for medical institutions.
There has been a significant increase in prices for affordable housing. It rose in price by 114%, from 3 to 5 million pesos.
The total number of houses and apartments sold in the capital region until June 2023 amounted to 19,365 units. The area of sold, allocated or reserved facilities during this period amounted to 1.9 million square meters, which is 110.8% more than last year. Notable increases were observed in Boca Chica, North Santo Domingo, East Santo Domingo and West Santo Domingo.
A source: Dominican Today
