US State Department & Long Term Rental Prices in the DR

Good question.  I have seen lots of "specials" on social media.  Those seem to mostly be short term and holiday rentals.  Long term rentals are probably a bit more stable but the longer this takes the more it will destabilize.

If you are coming, boots on the ground and cash in hand so to speak will get you good deals!

I do not think it really matters what they say. People have not been travelling overall. Until a resolution to covid everything will be limited and then you have economic impacts during and after.

About time to the US recommends no travel to DR  Well overdue.

I'm  just come back from the North coast and all I can observe is that just about every property was empty.  I know several of the owners and they said short term or long term was not good.  My own landlady was thinking of giving up and selling.

I personally will not go back to DR till I'm assured Covid-19 is under control and that I'm afraid could be several years the way Govs here have handled matters.

The US should ban travel to DR.     talk about the pot calling the kettle black!!!! 

No one should allow visitors from countries who don't have this under control.  No one.

In terms of real estate sales - who exactly is buying?   The same reason that applies to rentals applies to buying.  The economy is in trouble.

Here in Punta Cana the rentals have been zero but there is no point to slash pricing, they are better off empty.  Also, construction is busy, I would say back to normal.  Housing and businesses alike...who knows.  Sooner or later north Americans will come here because prices there are completely out of control.  1m dollars gets you a small 75 to 100 Sq metre home in the main cities.  Crazy... you be lucky to afford the property taxes!

I absolutely agree once this is over,   people will return,  even more intent of "getting out" of wherever they are.

I was reading the same thing Mike about construction in that area back to normal. I was surprised by that - many projects near completion the reason?

I live in the Imbert, Puerto Plata area. Rents have not been affected. Some food availability has been difficult do to quarantines. The butchers prices are up. Pay 85 pesos a pound for pork. I was able to buy a live pig for a pig roast I'm having next week for 80 pesos a kilo.
In my area nobody is allowed out of the house from 7pm-6am M-F and 5pm-6am Saturday and Sunday. Some restaurants are open for seating. Bars are all closed.

DRvis...no idea.  The new government is also promoting new construction.  They are focusing on boosting tourism.  Maybe they know something we don't. ..

Construction of high rise apartments continues as before in the capital. There appeared to be an excess before and people were simply upgrading to something newer. Same applied with cars. The banks must have plenty of loans at high interest rates. Dominicans had a hunger for borrowing.

But what surprised me is that there appears to be plenty of small scale domestic construction work being undertaken in the campo outside the towns and cities.

The overall picture is not clear though with cement sales reported having dropped significantly.

In Las Terrenas, the weekend/holiday rental is really picking up. Mostly folks from Santo Domingo and Santiago coming for the weekend to get out of the city.

With long-term rentals, we've been looking and it looks like prices have come down a bit. We've also found owners willing to knock several hundred dollars off the monthly rent if you pay in advance.

Great info!

I know how I feel and I am ready to get out of the city!  BUT, I wont do it on a weekend!  too many people.

We have been very busy with renters without discounting prices. about half from Santo Domingo and half American.  It depends what kind o property it is and where it is. For example, Las Terrenas has few tourists and prices are low as this is mainly a European vacation destination.

There are plenty of 3 bedroom villas around for about 800-900 per month plus electricity on the North Coast.  Who on earth would want to go to cities with this pandemic.