They explain that an individual income of RD$30,000, RD$40,000 or even RD$50,000 does not guarantee the necessary mortgage pre-qualification.
SANTO DOMINGO– Acquiring affordable housing has become an increasing challenge for Dominican workers. According to experts consulted by El Inmobiliario, the average professional's income does not match the amounts required to access a mortgage loan for this type of property.
Data published by the National Statistics Office (ONE), corresponding to the first quarter of 2025, establishes that the average monthly salary in formal companies is RD$21,825. This figure is well below the income required by financial institutions to grant a loan for low-cost housing.
Properties classified in this category are usually in the price range of RD$5,193,655.
According to real estate advisor Alenny Garabito, an individual income of RD$30,000, RD$40,000, or even RD$50,000 does not guarantee the necessary mortgage pre-qualification. “You can have a down payment, but if you don't demonstrate the ability to pay, the bank isn't going to approve a 3 million peso loan,” she explained.
He explained that many prospective buyers overestimate their actual ability to pay compared to bank lending criteria. “People think that because they earn 40,000 pesos they can afford to buy, but the final monthly payment isn't enough. If you borrow 3 million pesos, that's around 14,000 pesos for every million financed,” he stated.
Revenues that buyers require
To qualify for affordable housing, financial institutions typically require combined monthly incomes exceeding RD$120,000 to RD$160,000 for couples purchasing together, or individual incomes of RD$60,000 or more for single applicants. These figures allow for monthly payments without exceeding 35% of salary, as stipulated by the internal policies of most local banks.
The specialist explains that each case is evaluated individually, but in practice, only a limited percentage of professionals manage to meet these requirements. The average salary recorded by the ONE confirms a considerable gap between actual income and required income.
Profile of those who manage to buy
According to the real estate agent, most buyers of affordable housing are between 45 and 50 years old, as they are the ones who have achieved sufficient job stability to make a down payment and afford a mortgage payment. A smaller proportion of young adults between 20 and 35 years old also purchase homes, especially when buying with a partner or having additional income.
Experts agree that the difficulty lies not only in the cost of housing, but also in the relationship between current salaries and loan requirements. The trend indicates that, for the average professional, the time needed to save for a down payment is getting longer and longer.
Growing gap between wages and housing prices
Although interest in buying a home remains high, formal incomes reported in the country have grown at a slower rate than property costs. As a result, many citizens end up postponing their purchase decision.
“I get calls from people who earn 40 or 50 thousand pesos a month, and even then they don't manage to pre-qualify. Only when they are a couple and their combined income is 60 thousand or more can we evaluate viable options,” said a sales specialist.
The gap between average salary and bank requirements is presented as the main obstacle to accessing low-cost housing, especially for young and middle-income professionals.
