SANTO DOMINGO – The cranes are there. The Central Bank's figures are there too. But economist Alejandro Arredondo prefers to look at another piece of data: the number of families who, despite the boom, still cannot enter the formal housing market.
In an exclusive interview with El Inmobiliario, regarding the report "The country that does not appear in the renderings of the real estate boom", Arredondo focuses on what the renderings do not reach: the housing deficit that persists beneath the growth.
"Construction remains one of the engines of the Dominican economy, but that doesn't mean the housing problem is being solved at the same pace," he warns.
For him, the discussion isn't about whether a lot or a little is being built, but rather what is being built and for whom. He points out that much of the recent growth is geared towards higher-profit projects, while large segments of the population continue to lack real options. And the problem, he clarifies, isn't limited to a lack of new housing either.
"It's not just a matter of quantity. There's a very important component of precariousness and quality of life," he says, adding that the reality is that there are deteriorated homes, overcrowding, and communities without basic services: that's also a housing deficit.
The rising cost of materials, land, and mortgages has further complicated access. For Arredondo, this is neither a minor nor a temporary problem: it is a structural barrier that particularly affects middle- and lower-income families who aspired to enter the formal market.
Added to this is the geography of investments, since in his opinion the real estate dynamism is concentrated in the National District, Santiago and tourist centers such as Punta Cana, while other regions of the country accumulate lags that no boom has touched.
"There are territories where real estate growth is very visible and others where historical deficits persist," he points out.
His conclusion is straightforward: growth is not enough. "The housing problem cannot be solved with economic growth alone. It also requires public policies focused on access," he argues, and for him, that means strengthening affordable housing programs and expanding financing mechanisms for those who simply do not qualify today.
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