By Indhira Desangles
In recent days I have received comments from clients with concerns about the opportunities they have for their investments to prosper, and I have responded that in the market there will always be great opportunities for buying or selling real estate.
In the Dominican Republic, as in other parts of the world, there will always be investors who seek to buy at low prices to resell at much higher prices and speculate, or to seek profitability in the medium and long term.
With my extensive experience in the sector, I can assure you that I have not seen prices plummet, as many believe, despite the serious consequences the world has suffered due to COVID-19.
The pandemic has forced many businesses to reassess their space needs, consider renovations, weigh up whether to expand, downsize, relocate, or even close, but it hasn't created a significant imbalance in the real estate sector. In fact, we've seen new businesses emerge from the situation and others that have come out considerably stronger.
In South Florida, for example, Apple, Google, Facebook, Uber, and Chewy have a presence with an occupancy of nearly 3 million square feet. Prior to the pandemic, Spotify had leased 20,000 square feet for its headquarters in Wynwood, Miami, according to CBRE (a Miami-based commercial real estate agency). Experts in that city argue that this significant presence helps keep market prices stable.
The same is true in our capital, Santo Domingo, with major, well-known companies. The city is attractive enough for new businesses and investments, both local and international.
For these reasons, my recommendation is that if you're looking to buy or rent and have found a property at a fair market price, don't waste any time! If you're looking to rent or sell your property, you can consult with a real estate specialist and reassess its usefulness, make certain improvements or modifications, and thus strengthen your position against the competition. You can also take advantage of the advertising and marketing tools available to you and generate business
Opportunities will always be there; it's a matter of being well-advised, creative enough, and visualizing the future value of the property.
