Authored by the expert who managed and guided the team behind the Dominican Republic Property Pack

Everything you need to know before buying real estate is included in our The Dominican Republic Property Pack
What do the latest numbers reveal about Santiago de los Caballeros’ real estate market? Are property prices on the rise, or are they stabilizing? Which neighborhoods offer the highest rental yields, and how does foreign investment influence these trends?
We’re constantly asked these questions because we’re deeply involved in this market. Through our work with developers, real estate agents, and clients who invest in Santiago de los Caballeros, we’ve gained firsthand insights into these trends. Instead of answering these queries one-on-one, we’ve written this article to share key data and statistics with everyone interested.
Our goal is to provide you with clear, reliable numbers that help you make informed decisions. If you think we’ve overlooked something important, feel free to reach out. Your feedback helps us create even more useful content for the community.

1) New residential developments rose by 15% in 2024
In 2024, new residential developments in Santiago de los Caballeros rose by 15%.
This surge is part of a broader trend in the city's real estate market, which has been on a steady rise. Economic growth and increased demand for housing are fueling this expansion. Back in 2023, property sales had already jumped by 10% from the previous year, showing the market's strong momentum.
Investors are particularly drawn to emerging areas of the city. These spots are becoming hotbeds for new residential projects. The appeal lies in the demand for modern, well-located homes, which is driving this development boom.
People are looking for places that offer both convenience and contemporary living. This shift in preference is a key factor in the city's real estate growth. Modern amenities and strategic locations are what buyers are after.
As Santiago de los Caballeros continues to grow, the real estate market is adapting to meet these new demands. Developers are focusing on creating spaces that cater to modern lifestyles, ensuring they meet the needs of today's buyers.
With the city's ongoing expansion, the real estate landscape is set to keep evolving. Investors and developers are keen to capitalize on this trend, making it an exciting time for potential buyers.
Source: Mariluz Home
2) Rental yields in Santiago de los Caballeros average around 6% annually
In Santiago de los Caballeros, rental yields are averaging around 6% annually.
This figure is part of a broader trend in the Dominican Republic, where rental yields typically range from 6% to 12% depending on location and property type. Santiago's yields are on the lower end, likely due to its unique local conditions.
In 2023 and 2024, Santiago's rental market remained stable, thanks to a consistent demand for rental properties. The city's growing population and bustling economic activities have kept the demand for housing steady, which in turn supports rental prices and yields.
Property acquisition costs in Santiago are relatively moderate compared to other major cities, which can lead to favorable rental yields for investors. This affordability makes Santiago an attractive option for those looking to invest in real estate.
The Dominican Republic's economic environment is also a key factor, with policies that encourage foreign investment. A booming tourism sector indirectly supports the rental market, contributing to the stability of rental yields in Santiago.
These elements combined have helped maintain rental yields around 6% in Santiago de los Caballeros, making it a viable option for property investors.
Sources: PaisnatuRD, Citymax-STI

We have made this infographic to give you a quick and clear snapshot of the property market in the Dominican Republic. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.
3) Real estate transactions in 2024 increased by 8% compared to the previous year
The real estate market in Santiago de los Caballeros saw an 8% rise in transactions in 2024 compared to the previous year.
This uptick is largely due to economic development and increased demand for modern, well-located homes. The market is buzzing, with property sales jumping by 10% in 2024, reflecting a vibrant and growing environment.
Investors are finding plenty of opportunities across various segments, from residential sales to monthly and short-term rentals, as well as the hotel sector. Areas like Cerros de Gurabo, Villa Olga, and El Embrujo are particularly popular, with property prices ranging from $100,000 to $500,000 USD.
These neighborhoods are attracting buyers who are looking for both investment potential and a great place to live. The diverse options available make Santiago de los Caballeros a hotspot for real estate activity.
Whether you're interested in a family home or a rental property, the market's growth suggests strong returns on investment. The city's development is creating a dynamic landscape for real estate.
With such a variety of properties and price points, Santiago de los Caballeros is becoming a key player in the real estate market in the region.
Sources: Mariluz Home, CityMax Caribe
4) Mortgage interest rates in Santiago de los Caballeros are currently about 5.5%
In Santiago de los Caballeros, the average mortgage interest rate is about 5.5%.
Despite the Central Bank of Chile's efforts to cut key rates, housing loan interest rates have been climbing. For instance, in November 2023, the average rate for housing loans in Chile was 5.18%, marking an increase from previous years.
Chile's mortgage market is quite advanced, with a notable rise in outstanding mortgage loans. This surge reflects a strong demand, which can naturally push interest rates higher.
Given these national trends, it's logical to expect that Santiago de los Caballeros would experience similar interest rate patterns.
For potential buyers, understanding these dynamics is crucial, as they directly impact the cost of financing a home in this region.
Staying informed about these trends can help you make better decisions when considering a property purchase in Santiago de los Caballeros.
Sources: Global Property Guide
5) Property maintenance costs average about $1,200 annually
The average cost of property maintenance is about $1,200 per year.
In places like Santo Domingo, maintenance costs are often calculated by the size of the property. For example, in 2023 and 2024, these costs ranged from $30 to $105 per square meter, depending on the property's category. This means that larger properties or those in premium areas might see higher costs.
Take Santiago de los Caballeros as an example. A residential complex there had a maintenance fee for common areas set at RD$12,200 per month. Over a year, this adds up to about RD$147,000, which is roughly $1,200 USD. This shows how quickly these costs can add up.
The amenities and services offered by a property can also affect maintenance costs. Properties with features like gyms, social areas, and pools might see costs as high as US$2.65 per square meter. So, while $1,200 is an average, your actual costs could be higher if your property has more amenities.
Understanding these costs is crucial for potential buyers. It helps to know that the average is just a starting point, and actual expenses can vary based on location and property features. This variability is why it's important to consider what amenities are included when evaluating a property's maintenance costs.
Sources: Laura Cevedo Real Estate, Inmobiliario.do, FazWaz
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6) In 2024, cash purchases of properties rose by 9%
In 2024, the number of properties purchased with cash increased by 9% in Santiago de los Caballeros.
This rise in cash purchases is part of a broader trend in the real estate market, which saw a 10% increase in overall property sales compared to 2023. The economic development in the area has fueled demand for modern, well-located residences, making cash transactions more appealing to buyers.
In popular neighborhoods like Cerros de Gurabo, Villa Olga, and El Embrujo, there's been a noticeable surge in interest. Property prices here range from $100,000 to $500,000 USD, indicating that buyers are eager to pay upfront to secure homes in these sought-after areas.
As more people look to invest in real estate, cash transactions have become a preferred method, reflecting a shift in buyer preferences. This trend highlights the growing confidence in the local market and the desire for quick, hassle-free purchases.
These areas are not just popular for their location but also for the lifestyle they offer, attracting both local and international buyers. The willingness to pay cash underscores the strong demand for properties in these vibrant communities.
With the ongoing economic growth, Santiago de los Caballeros is becoming a hotspot for real estate investment, and cash purchases are leading the way in this dynamic market.
Sources: Mariluz Home, CityMax Caribe
7) Household utility costs average about $100 monthly
Utility costs differ greatly based on location and household needs.
In the U.S., the average household spends about $171 per month on utilities, covering electricity, gas, water, and internet. This data from 2023 and 2024 shows typical consumption patterns and costs. However, in places like the Dominican Republic, these costs can be much lower.
For example, in Las Terrenas, the cost of electricity is around $0.38 per KWH. This lower rate can result in a monthly bill that's significantly less than what you'd pay in the U.S. This makes the Dominican Republic an attractive option for those looking to reduce their utility expenses.
While the U.S. average is higher, it's important to note that the average utility cost for a household is around $100 per month in some areas, depending on usage and local rates. This can vary widely, so it's crucial to consider your specific needs and location when budgeting for utilities.
In certain regions, utility costs are influenced by local energy sources and infrastructure, which can lead to significant differences in monthly expenses. For instance, areas with abundant renewable energy sources might offer lower rates.
Understanding these variations can help you make informed decisions when considering property purchases, especially if you're looking to manage your monthly expenses effectively.
Sources: Nationwide, Beach Town Property
8) Residential buildings in Santiago de los Caballeros average 20 years old
The average age of residential buildings in Santiago de los Caballeros is 20 years.
This youthful age is a result of the city's rapid urban development over the past two decades. From 2003 to 2023, Santiago de los Caballeros expanded significantly, covering over 42.72 square kilometers. This growth was fueled by a surge in investment, with RD$63,008 million poured into infrastructure and residential projects between 2016 and 2021, primarily by the private sector.
The construction boom is evident in the number of projects undertaken. In 2021, there were 423 construction projects, a stark increase from just 152 in 2017. This flurry of activity has contributed to the relatively young age of the city's residential buildings.
Such rapid development has made Santiago de los Caballeros a hotspot for real estate investment, attracting both local and international investors. The city's infrastructure improvements and modern residential complexes are key factors driving this interest.
For potential buyers, this means access to newer properties with modern amenities, often located in well-planned neighborhoods. The city's growth trajectory suggests continued opportunities for investment in the real estate market.
Sources: Listin Diario, Mariluz Home

We made this infographic to show you how property prices in the Dominican Republic compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
9) Properties with home offices increased by 8% in 2024
In 2024, the number of properties with home offices increased by 8%.
This trend is particularly evident in Santiago de los Caballeros, where property sales jumped by 10%. The city's economic development and the growing demand for modern residences are key drivers behind this surge. Santiago is becoming a hotspot for real estate, attracting both local and international buyers.
The city's expanding population and its reputation as a vibrant investment hub have fueled the demand for residential properties, especially those with home offices. Areas like Cerros de Gurabo, Villa Olga, and El Embrujo are in high demand, with property prices ranging from $100,000 to $500,000 USD. These neighborhoods are popular for their modern amenities and strategic locations.
Mixed-use projects are also on the rise, blending residential, commercial, and entertainment spaces. This development trend is contributing to the increase in properties featuring home offices. Santiago's economic growth, supported by diverse sectors such as industry, commerce, agriculture, and services, is creating more jobs and boosting incomes.
As employment opportunities grow, so does the need for versatile living spaces. Home offices are becoming a standard feature in new properties, catering to the needs of professionals who work remotely. This shift reflects a broader change in how people are choosing to live and work.
The combination of economic growth and lifestyle changes is reshaping the real estate market in Santiago. The demand for properties with home offices is a clear indicator of this transformation, as more people seek homes that offer both comfort and functionality.
Sources: Mariluz Home, CityMax Caribe
10) New homes typically have an average of three bedrooms
In Santiago de los Caballeros, new homes typically feature three bedrooms.
Browsing through property listings on FazWaz, you'll notice that many homes are designed with three bedrooms. For example, there's a modern house in a luxurious private complex that offers 3 bedrooms and 3 bathrooms, a setup that's quite common in this area.
Market trends in Santiago de los Caballeros reveal that three-bedroom homes are the predominant choice. This is evident as numerous listings match this average, suggesting that three-bedroom homes are the standard here.
Specific examples further confirm this pattern. Consider a two-level house with 3 bedrooms and 4 bathrooms, or another modern home with 3 bedrooms and 2 bathrooms. These listings highlight the consistent presence of three-bedroom homes in the market.
Such consistency in the number of bedrooms is not just a coincidence; it reflects the market's response to buyer preferences in Santiago de los Caballeros.
For potential buyers, understanding that three-bedroom homes are the norm can help set expectations when exploring the housing market in this region.
Source: FazWaz
11) Property management fees average about 10% of rental income
In the Dominican Republic, property management fees average around 10% of rental income.
For short-term rentals, property managers usually charge between 10-20% of the rental income. This fee covers crucial services like marketing your property, screening tenants, collecting rent, inspecting the property, and handling maintenance requests. These tasks require both time and expertise, which is why the fee is justified.
When it comes to vacation rentals, the management fees can vary significantly, ranging from 10% to 50% of the revenue. This variation is influenced by local market conditions and the specific services offered by the management company. However, the 10% figure is still a common reference point for many property owners.
Understanding these fees is essential for anyone considering property investment in the Dominican Republic. The average property management fee of 10% is a key figure to keep in mind, especially when budgeting for potential expenses.
Whether you're looking at short-term or vacation rentals, knowing the typical fee structure helps in making informed decisions. The 10% benchmark is a useful guide as you navigate the property management landscape.
Sources: DR Properties, Vacasa
While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility.