SANTO DOMINGO – Luz Sarmiento and César Iván Santana, leaders of the real estate firm Urban Group, project a promising 2024 full of opportunities for their brand and for the Dominican Republic. They understand, however, that the buyer's market needs to be offered innovative and cost-effective options that will appeal to potential clients.
The professionals highlight several aspects such as economic growth, the climate of peace in the Dominican Republic, political stability, and the robust indicators evidenced in Foreign Direct Investment (FDI), the latter exceeding 4.3 billion dollars in 2024.
Taking advantage of the new year, the real estate advisors, who manage a roster of about 150 real estate agents, with their brand specializing in tourist properties, shared with El Inmobiliario their appreciation on their expectations for the year and their opinion on the current environment of the sector in the Dominican Republic.
How do you see the current state of the Dominican real estate market?
We understand that we must stay ahead of market trends; each year our clients' requests become more specific, and we must respond to them with innovative and cost-effective options so that the client will repeat their experience with us.
How did Urban Group fare in 2023?
2023 was a great year, in which we grew in many aspects, but I believe one of the most important is our Urban Friends platform, which supports all colleagues in the market so that they have access to our exclusive portfolio of products nationwide.
What strengths do you see in the Dominican real estate market?
Economic growth: According to the Central Bank of the Dominican Republic, the country has experienced an average GDP growth of 5% annually over the last decade. This places us among the fastest-growing countries in Latin America.
Foreign Investment: The Dominican Republic has been attractive to foreign direct investment. According to the United Nations Conference on Trade and Development (UNCTAD) report, in 2019 we received more than US$3.8 billion in foreign direct investment, demonstrating investor confidence in our stability.
Global Peace Index: According to the 2020 Global Peace Index, the Dominican Republic is among the most peaceful countries in Latin America. We rank 72nd globally, surpassing many of our neighbors in the region.
Political stability: Over the past 10 years, the Dominican Republic has maintained remarkable political stability. We have held regular and peaceful democratic elections, which has contributed to investor confidence and the strengthening of our institutions.
How do you envision 2024 for the sector and for Urban Group?
In 2024, the real estate construction sector and Urban Group will face a promising and opportunity-filled landscape. Significant growth in the purchasing power of investor clients is expected, which will provide us with the opportunity to continue fulfilling our commitment as experts in secure investments.
At Urban Group, we will continue to focus on presenting our clients with profitable and attractive options that meet their needs. Our main objective will be to remain market leaders, providing innovative and high-quality real estate solutions that generate trust and satisfaction among our clients.
Cover photo: Luz Sarmiento and César Iván Santana (External source).
