The coronavirus also boosted sales in this sector, where inventories of houses that had been stalled for years were finally sold.
SANTO DOMINGO.- The fact that the Dominican Republic is a poor country does not mean that luxury residences and apartments are not part of the real estate market and that there are agents specializing in this area.
Obviously, the target audience isn't very common. However, each region of the country has exclusive areas that house the upper class, as communities with greater economic resources are classified in a society.
Los Pinos (Arroyo Hondo), Cacicazgos, La Julia, and Bella Vista are the areas with the most expensive homes on the market. For high-rise buildings, Ensanche Piantini and Avenida Anacaona are the leading areas.
This agent was asked to locate a property for an international delegation. And although it was 15 years ago, she remembers the event because it marked the beginning of her focus on luxury real estate. Her team, composed of 12 women, works across various sectors, but Belkis Cuello is inextricably linked to luxury sales.
Wealthy Dominicans, foreign investors, international organizations, embassies, and multinationals represent the select group of her clients, to whom she rents and sells, fascinated because "I love luxury," she says excitedly.
Luxury properties are defined as those whose price exceeds one million dollars, are strategically located, and have finishes and amenities that meet the demands of that market.
These types of properties aren't attractive to many agents, nor are there many with the capacity to sell such a high-value home. Satisfied clients, persistence, and a passion for her work combine to allay concerns about the frequency of sales. "When you do this kind of business, your wallet feels it," notes the representative from BC Real Estate.
Although he uses various promotional platforms, clients regularly come from what Cuello calls the most economical and effective campaign: word-of-mouth recommendations from satisfied customers. His market extends to Punta Cana and Casa de Campo.
The coronavirus also boosted sales in this sector, where inventories of houses that had been stalled for years were sold. “Incredibly, when the lockdown ended, 90% of large houses sold; people went out looking for large spaces, gardens, outdoor areas, and fresh air,” the expert points out.
Prices, however, remained the same, and many people rushed to buy before the increases began. Others were traded among friends and acquaintances, who were looking for alternatives due to COVID-19.
