have 2 big ones across the street from me, both for sale for years..,.what they are worth and what sellers want , are not even close...if you let some of these cement houses sit for years with no upkeep...then they are worth what the land they are on sells for..............
RE in the DR is a toss up. Sellers want a pie in the sky, buyers want 1980’s pricing.
Banks generally work on the real valuation of the properties based on comparable closed contracts in the same area within last 5 years and actual construction costs.
When property is deemed in the level of a “mejora” it’s then valued on the land alone and a trim.
Most sellers will set prices based on their willing point, until they need the money.
The best way to buy property here is to place a binding bid with an expiration date. It puts their mind to work and creates opportunities to barter.