The percentage of works exclusively for sale decreased slightly, going from 12.6% in the 2023-2 semester to 11.6% in 2024-1, which could suggest a reduction in the activity of the real estate market dedicated exclusively to sales.
SANTO DOMINGO– According to the Building Supply Registry (ROE) in its first edition of 2024, nine of the ten areas with the highest price per square meter are located in the National District. Only Tres Ojos, located in Santo Domingo East, is excluded from the list.
The analysis was carried out by the National Statistics Office (ONE), in collaboration with the Dominican Association of Housing Builders and Promoters (ACOPROVI) and the Technological Institute of Santo Domingo (INTEC) and presents the results corresponding to the first half of 2024.
According to the data in the publication, Ensanche Piantini, which had previously held the lead as the area with the highest price per square meter, has fallen to second place. La Julia, with a price of RD$168,745, is currently the most expensive area per square meter in the capital city.
The ROE maintains that in Piantini the price per square meter is around RD$164,863, Ensanche Naco with RD$139,015, Los Tres Ojos with RD$137,213 and La Esperilla with RD$134,166.
The report also indicates that Santo Domingo de Guzmán has the highest average price per square meter at RD$127,773. Boca Chica follows with an average price of RD$91,940 per square meter. Pedro Brand has the lowest average price at RD$47,486 per square meter, while Santo Domingo Este has the lowest at RD$71,625.
The study highlights that, as with the municipalities, the average price per square meter of the individual area was considered, according to the neighborhoods, with the exception that only those with 5 or more works, and which had a greater number of housing types, were considered, in order to avoid biases due to the number of works in the neighborhoods less prone to construction.
“In this context, the neighborhood with the highest average price is La Julia at RD$168,745 per square meter. This is followed by Piantini at RD$164,863, Ensanche Naco at RD$139,015, Los Tres Ojos at RD$137,213, and La Esperilla with an average price of RD$134,166. Meanwhile, among the neighborhoods with the most active construction, the lowest average prices are in Los Guaricanos at RD$45,069, Cancino at RD$47,457, and Brisa Oriental at RD$54,235 per square meter,” he emphasizes.
The ROE is a statistical operation whose main objective is to evaluate the state of construction activity of buildings characterized by the different stages of construction, such as plans, execution, stopped and completed.
Works halted
The study recorded a total of 6,855 projects in the urban area of the Metropolitan Region, of which 79.8% were updated and 20.2% were added as new projects. Of the total, 20.2% are under construction, 61.5% are stalled, 14.8% are completed, and 1.4% are still in the planning stage.
The ROE explains that 86.5% (5,931) of the completed projects remain active and will continue to be updated in the second edition of the research. “In contrast, the completed projects, which represent 11.4% (782), and the inactive ones, 2.1% (142), are excluded from the updating process,” it notes.
Works in progress
The ONE report highlights that among the projects underway, the majority are in the structural stage (41.9%), followed by the cladding stage (28.8%) and plastering stage (20.1%). “In the case of stalled projects, the largest percentage is also in the structural stage (46.3%), followed by plastering (27.2%) and cladding (25.0%).”.
The percentage of works exclusively for sale decreased slightly, going from 12.6% in the 2023-2 semester to 11.6% in 2024-1, which could suggest a reduction in the activity of the real estate market dedicated exclusively to sales.
Housing prices
The total supply of housing amounts to 13,646 units, determined the ROE, which adds that in the price range 37.6% have a cost between RD$3,000,001 to RD$5,000,000, 16.7% between RD$8,000,001 to RD$15,000,000, 14.7% a cost of RD$3 million or less, and 10.8% between RD$5,000,001 to RD$8,000,000.
