{"id":9856,"date":"2023-10-16T12:00:53","date_gmt":"2023-10-16T12:00:53","guid":{"rendered":"https:\/\/dmklawyers.com\/?p=9856"},"modified":"2023-10-16T12:03:40","modified_gmt":"2023-10-16T12:03:40","slug":"construction-concentrated-in-apartment-towers-hotels-and-buildings","status":"publish","type":"post","link":"https:\/\/dmklawyers.com\/en\/construction-concentrated-in-apartment-towers-hotels-and-buildings\/","title":{"rendered":"Construction concentrated in apartment towers, hotels, and buildings"},"content":{"rendered":"\n

Goodbye to single-family homes. According to economic data from the National Statistics Office (ONE), the private sector has increased its investments in apartment blocks for first homes, long and short-term rentals, and holiday homes. By 2022, 72% of investments made were concentrated in apartment blocks.<\/strong><\/p>\n\n\n\n

ONE\u2019s statistical yearbook highlights that last year a total of 1,560 building permits were issued to the private sector, covering a work area of 8,143,972.8 square meters and an estimated value of 121,915.4 million pesos.<\/p>\n\n\n\n

Of the total invested, 87,873.5 million pesos were allocated to buildings located in Santo Domingo, the National District, Santiago and La Altagracia.<\/p>\n\n\n\n

In 2022, a total of\u00a08,426 projects were\u00a0carried out, 6,532 of which were apartment towers, the rest was divided between homes with more than two levels, combined constructions of\u00a0homes\u00a0and businesses, and buildings for tourist accommodation, among other types of constructions for the health, electrical, industrial, and commercial\u00a0sectors. <\/p>\n\n\n\n

Throughout 2022, the number of traditional family homes barely reached 595 buildings.<\/p>\n\n\n\n

Highest investment in nine years<\/strong><\/p>\n\n\n\n

In 2018, the private sector built six times more than in the previous year and 32% more than in 2022, according to the real estate performance of the last nine years.<\/p>\n\n\n\n

The trend in construction and investment for that period saw an exorbitant variation, with a 507.3% growth in the number of buildings nationwide, going from 2,048 in 2017 to 12,439 a year later.<\/p>\n\n\n\n

The highest investment of the private sector in real estate from 2014 to 2022 was 203,820.9 million pesos, reached in 2019. 87.7% of the total invested in those twelve months was made in the three provinces with the greatest economic dynamism.<\/p>\n\n\n\n