Real Estate Price Index Sosua December 2018

Our proprietaru Sosua Real Estate Price Index closed the year at 1346.25 down 1% from its December 2017 closing level. The decline of the index is mainly due to existing homes prices which were slightly lower in 2018 from 2017 while new homes prices were slightly year this year.
The small increase in new home prices is mainly due to increasing constructions costs (up 10% in pesos and 5% in USd during 2018) , demand remains weak in both segments of the market. 
We suspect that the real estate boom and speculation in Punta Cana is lowering demand elsewhere, the North Coast and Sosua must improve the range and quality their offer of touristic services  to keep up.  As usual there is a strong dispersion around the mean in existing homes prices: according to our index the selling price of a 3 bedrooms villa is on average approximately 1300 USD per square meter while salling prices can be as low as 700 USD per quare meter and as high as 1800 USD per square meter depending on the quality and position of the house.




We'll keep postig upodates to our index during 2019! Stay tuned and enjoy an happy new year!