SANTO DOMINGO- Just like residential rentals, rental prices for commercial properties and industrial buildings have experienced increases in recent times in the Dominican market, increases that could be due to a supply/demand issue, according to Indhira Desangles, an expert in commercial real estate.
He explains that the inventory of that business model has been filling up, citing the case of the Class A towers where all the new offices have been rented, the construction of which had been underway since last year.
“For example, offices that were at $30 per square meter have risen to $35, while Class B plus offices that were around $27 per square meter are now around $29 per square meter,” the expert says.
In the case of shopping centers that are currently under development, they are also registering price increases and, according to Desangles, reaching up to $40 per square meter.
When it comes to industrial warehouses, market prices indicate that they have also experienced a rise in rates. “Last year, warehouse prices were around $5.50, and now new ones being rented are going for between $6.75 and $7.00.”.
Indhira Desangles understands that the price increase in that sector is due to supply and demand, as there is less supply and more demand every day. “The entire logistics, distribution center, and warehousing sector has grown dramatically, and there are very few warehouse parks with available inventory. There are projects under construction to meet that demand,” she emphasizes.
In the corporate area, he explains that after the pandemic there were movements and reorganizations of companies with varied cases because some grew, others decreased, there was an increase in square meters, a reduction in spaces, moves and relocation of spaces and that these mobilizations generated a general readjustment of all prices.
Cover photo: Fidel Pérez.
