SANTO DOMINGO – Allegations of malpractice in the Dominican Republic have unleashed new challenges for real estate agents and the market in general, which has had to strengthen its due diligence to bolster trust. In addition to the challenges of the digital age, which has created a much more demanding and informed customer, there is the situation that has led to the prosecution of businesspeople linked to the industry in national courts for alleged fraud.
One consequence cited by real estate entrepreneurs Eric Luciano and Gregory Aquino, of Luciano Aquino Inversiones Real Estate, is that the sale of off-plan properties has decreased significantly due to the distrust caused by the situation of the cases brought before the courts.
“People are preferring ready-to-build properties, and projects that sometimes had delayed units are selling more, although at a higher price, because people are trusting what they see,” Luciano explains.
He points out that some developers are pressuring developers to sell more units, stating that real estate advisors currently have to work much harder to highlight and demonstrate the track record of the developers and builders behind the projects, although he believes that this situation can be reversed.
“The issue is even more prevalent when it comes toforeigners who rely on information from social media. “Things that often didn't need to be done now require providing a lot of evidence that they are indeed reliable, because social media makes them come to buy with their trust weakened,” Luciano explains.
For Gregory Aquino, there is no doubt that the real estate market is currently facing new challenges. “The real estate market today definitely presents a greater challenge because right now it's necessary to strengthen trust, and most people are preferring properties that are ready for occupancy because they can see what they are buying, they have a title, they feel they are making a safe choice,” he says.
He adds that those who are buying properties off-planare preferring more affordable units. "That is, a property where the investment involved is not so high."
It states that previously it was common practice for an investor to choose a property between $200,000 and $400,000 , but that currently both the Dominican diaspora, foreign investors , and even Dominicans residing here are preferring less expensive properties.
Since when?
Speaking to El Inmobiliarioduring their participation in the first Ascode congress, executives from Luciano Aquino Inversiones Real Estate explained that the change in real estate has been felt especially during 2025, after stating that they had an excellent closing in 2024.
Evidence as support
“What we as real estate agents have to do is provide evidence that the builders we have business relationships with are reputable. It’s not impossible to sell off-plan; we just have to work harder. Now we’re obligated to conduct due diligence on builders so we can be certain of what we’re showing our clients,” says Eric Luciano.
They explain that in their case, they have already taken the necessary precautions with their real estate agents to ensure they can inspire greater confidence in clientsby providing documents that verify the property's status. "And with clients, we are holding preliminary meetings, explaining who we are before showing them the properties, introducing our firm, and providing supporting evidence to build trust. We also help them by informing them about the factors they should consider when choosing a particular real estate development," Luciano and Aquino conclude.
