Dominican Republic housing market faces rising costs and urban expansion

The real estate market in the Dominican Republic is facing significant challenges regarding housing affordability. Rising construction costs, including materials, labor, and transport, are driving up final property prices. Additionally, the scarcity and increasing value of land, particularly in urban and tourist areas, further escalate costs. Financing also remains a major hurdle, as fluctuating interest rates and high monthly payments can make homeownership unviable for many families.

In the Greater Santo Domingo area, urban transformation is evident through the development of Jacobo Majluta Avenue. Over the last twenty years, this infrastructure has facilitated the expansion of the city into previously peripheral areas. This growth is reflected in the demographic surge of Santo Domingo Norte, which grew from 321,178 inhabitants in 2002 to 674,274 according to the 2022 National Census.