SANTO DOMINGO.- It is no coincidence that a recent investigation by the British company Online Mortgage Advisor revealed that Santo Domingo is the Latin American city where the price of housing rentals increased the most in the period 2018-2022, and the seventh in the world, when comparing the average salary that a worker must allocate to renting a house.
The study found that in the four years cited, housing rentals registered an increase of 87.9% in the Dominican capital, in relation to the average salary needed to spend on rent.
Let's look at current rental prices in the Dominican capital, Santiago, and Punta Cana; plus some of the increases recorded in the last year in some Latin American countries.
In the exclusive Cacicazgos sector of the National District, the rental of a one-bedroom apartment currently costs US$1,400, a two-bedroom apartment located in a tower US$2,000, and a three-bedroom apartment with 204 m2 and relative amenities US$3,500.
In Piantini, a furnished one-bedroom apartment of 78m2 costs US$1,600 to rent; in Naco, a furnished one-bedroom apartment of 93m2 costs US$1,200; in the latter district, a 70m2 residential unit with appliances costs US$950 to rent.
Bella Vista with appliances, two bedrooms, social area and two parking spaces US$1,500; one bedroom furnished 101 m2, US$1,250; in Julia furnished, 80 m2, one bedroom US$1,300.
In the Esperilla sector, renting a one-bedroom house with appliances, social areas and 104m2 is US$1,100; a two-bedroom, furnished house, however, is almost the same price: US$1,150.
In Evaristo Morales, a 3-bedroom furnished apartment is rented for US$1,700; another three-bedroom apartment with 189.54 m2 is asked for US$2,500; while a two-bedroom furnished apartment is offered for US$1,500.
Serralles offers a one-bedroom apartment with appliances for US$1,100, a furnished one-bedroom apartment for US$1,200, and an unfurnished one for US$900. In Gazcue, a three-bedroom apartment without amenities is offered for rent at US$1,100 with 200 square meters. A two-bedroom apartment with appliances and 130 square meters is US$1,350.
In Mirador Sur, a furnished two-bedroom apartment of 144 m2 is offered for US$1,400; in Vergel, a three-bedroom apartment of 130 m2 is US$1,100, while in Urbanización Real, a three-bedroom apartment of 171 m2 is rented for US$1,500.
Santiago and Punta Cana
In the La Esmeralda and La Trinitaria sectors of Santiago de los Caballeros, two of the most exclusive in the Cibao city, an empty three-bedroom apartment ranges from US$1,500 to US$2,300, a two-bedroom apartment US$850, and a one-bedroom apartment US$650.
In the Punta Cana tourist area, a one-bedroom apartment ranges from US$700 to US$800; a two-bedroom apartment from US$1,200 to US$1,600. A three-bedroom apartment ranges from US$2,800 to US$3,000.
In Juan Dolio, a furnished one-bedroom apartment, 95m2, costs US$1,400 to rent.
Increases in other countries
According to a study by Fincaraiz.com, a real estate website, between January and March 2023, rental prices for houses in Colombia increased by 7% and for apartments by 6.7%.
The cities with the most expensive rents are Barranquilla, with a 7.8% increase; Medellín, with a 7.5% increase; and Bogotá and Cartagena, with a 7.3% increase. This 2023
Furthermore, according to data from QuintoAndar, a leading real estate platform in Latin America, considering the prices published in online ads, between March 2022 and March 2023, the average cost of renting an apartment rose in Buenos Aires by 126%, in Mexico City by 12%, in Sao Paulo by 11.2%, in Quito by 10.9%, in Panama City also by 10.9%, and in Lima by 6.3%.
