Santo Domingo Norte is the municipality of the Santo Domingo province with the lowest average price per square meter of work units for sale for housing: 30,138.3 pesos.
At least that was the case for the second half of last year, when the National Statistics Office (ONE) carried out the second Building Supply Registry (ROE) in 2021, for the urban area of the Greater Santo Domingo metropolitan region.
In second place in lowest cost is the Santo Domingo Este municipality, with an average price per square meter of 40,527.7 pesos; followed by Santo Domingo Oeste, with 41,856.9 pesos; and Los Alcarrizos, with 45,136.9 pesos.
The National District remains the most expensive demarcation to buy a home in Greater Santo Domingo; the square meter of work units for housing is around 86,718.7 pesos.
According to the Association of Real Estate Agents and Companies (AEI), which brings together 92 companies and 722 agents, 65% of the current real estate offer in the National District is designed for short-term rentals via digital platforms such as airbnb -which allows the rental of furnished properties, directly by their hosts-.
The foregoing is one of the reasons cited by the agency for which there is a shortage of units for family use, both in the National District and also for East Santo Domingo, for rental purposes.
What is the most popular price?
47.5% of the works intended for housing in the metropolitan region, which were sold, separated or reserved, cost between 3 million and 5 million pesos, for the second half of last year, according to the ONE survey. These represented 39.7% of the square meters of the salable construction area.
Affordable homes, for less than 3 million pesos, were 11.7% of a universe of 4,690 units sold, separated or reserved.
Units with that value have been reduced in offers. When in the second half of 2019 they were 63.5% of the market on offer, by 2021 they were 8.6% for which information was available.
Up to four levels: the most common
According to the number of floors, 39.3% of the works for housing were in buildings with three to four levels.
Units located in buildings with seven to 12 stories were in second place, at 26%. Those with one to two stories were more limited, at 12%.
Towers from 13 to 20 stories were the least in the market, with 9.4% for the second half of 2021.
