1-This is how the price per square meter has risen in the National District over the last five years
A compendium on the price per square meter of land in the National District according to the latest update released by the General Directorate of the National Cadastre (DGCN).
According to resolution number 010-2022, which updated the price index per square meter for land in the Dominican Republic, in sectors such as El Millón and Mirador Norte the value doubled, going from 15,000 and 20,000 in 2017, to 30,000 and 40,000, respectively, according to the survey conducted by the agency in 2022.
2-New draft law on "real estate intermediation" has 54 articles
The new bill, which by then (July 3, 2024) was known to the special Justice committee of the Chamber of Deputies, and which seeks to regulate the practice of real estate agents in the Dominican Republic, has 54 articles, all focused on protecting the rights and interests of property buyers, sellers and developers.
“This law aims to regulate, supervise, develop and promote an orderly, efficient and transparent real estate brokerage market, in order to protect the rights and interests of both property buyers and sellers and real estate developers, as well as to preserve confidence in the Dominican real estate market, establishing the conditions for information on the promotion of real estate transactions to be truthful, sufficient and timely, in order to contribute to the economic and social development of the country,” says Article 1.
3-Study reveals RE/MAX and Plusval dominate the real estate market in terms of Google visits in the Dominican Republic, with more than 60% of the traffic
Google traffic in the Dominican Republic's real estate market over the past two years has concentrated more than 60% on the real estate firms RE/MAX and Plusval, according to a study published this week by apartamentos.do, which took into account all real estate agencies in the Dominican Republic, as highlighted by El Inmobiliario on August 29.
Mr. Home Asesores Inmobiliarios, Realtordr located in Sosua, Century 21 Perdomo in Cabarete and ApartamentosRD complete the top 6 brands with the best search positioning on Google in the national market.
The study “Analysis of customer acquisition and reach of the main real estate websites in the Dominican Republic: Rankings and Opportunities” included a detailed analysis of the top 6 best positioned brands in the Dominican Republic real estate market as a whole.
4- Foreign businessman highlights that the Dominican Republic currently has the best investment climate in Latin America
Mariano Briceño, an investor who came from Venezuela more than 20 years ago to place his capital in real estate projects, believes that the Dominican Republic's economy currently offers the best investment climate in all of Latin America.
“I see it doing wonderfully well. I believe it has the best geography in all of Latin America; it is an excellent, wonderful country, as demonstrated over the last 20 years by the economic, macroeconomic, and social development it has been experiencing,” he responded when El Inmobiliario asked him about the current state of investment in the country, information which was published in March of this year.
5-These are the main highways of the Dominican Republic
Published in 2022, under the signature of Amelia Cuesta, it continues to be among the most read of the last year.
Some are surrounded by lush trees, others have the sea as their neighbor; some are rocky, narrow, and wide. Our country's roads allow us to travel from one place to another, facilitating vehicle traffic, trade, and the import of goods, and making every trip an incredible experience.
The main infrastructure for land transport in a country consists of the main roads and highways, so knowing their names, maintaining them and taking care of them is essential.
The main roads in the country are:
Duarte Highway: known as the country's main highway. Construction began in 1917, and it connects to the northern region.
Sanchez Highway: It starts at 30 de Mayo and ends at the Haitian border.
Highway 6 November: connects to the southern part of the country. Along this road we see mountains, beaches and places of historical value.
Samaná Highway: Connects the country with the eastern part of the Republic, directly to the municipality of Nagua and the Samaná peninsula.
Las Américas Highway: connects with the East, passing through Boca Chica, Juan Dolio, La Romana, Punta Cana, Cap Cana, Bavaro, Miches and Sabana de la Mar.
Coral Highway: also known as the Eastern Highway, it begins in La Romana connecting with Punta Cana, reducing the kilometers between one municipality and another.
Atlantic Tourist Boulevard: It is the road infrastructure located in Samaná and facilitates transport and trade between the peninsula and the southern part of the country.
The “Inventory of Road Infrastructure of the Dominican Republic” according to the September 2019 update, published by the Ministry of Public Works and Communications (MOPC), details that the Dominican Republic has 1,395 km of main roads; 2,412 km of secondary roads; 1,620 km of tertiary roads and more than 60,000 km of local roads, trails and paths.
6- 3 steps to a safe real estate investment in the Dominican Republic
Opinion piece by Hugo Espinal, real estate advisor at Plusval Dominicana, published in April of this year.
Hi Hugo, my niece tells me she's bought several properties, and as you know, I also live in the United States. We Dominicans living abroad have had bad experiences buying real estate through unreliable developers, and I understand there will always be a few bad apples in the various sectors of our beautiful country. So, how can I protect myself from falling into a similar trap?
The concern expressed by this client is entirely valid, especially in light of high-profile cases from 2023.
My answer for Ms. Esther Pérez, let's call her that, is simple but not easy. Nothing in life offers 100% security, except death and taxes, but we always look for ways to mitigate potential scams with different tools
1-Always work with an experienced advisor who is knowledgeable about the developers operating in the market, in conjunction with a recognized company in the sector that has clear knowledge of processes such as due diligence.
2- Ask if the project to be developed has any type of real estate investment and development trust, and if so, find out about the acting trustee.
3- And finally, ask the real estate advisor about previous projects delivered by the developer.
