Santo Domingo.- Housing sales, mainly in blueprints, have fallen more than 50 percent in the last few weeks, said Dominican Housing Builders and Promotores Association (Acoprovi) president Jaime González, although realtors say it’s “politics.”

"Right now nothing is being sold" he said, quoted by newspaper Diario Libre.

He blamed the collapse of sales mainly on price increases of materials such as rebar and cement and rises in plumbing and electricity. "That has most of the new investors or new projects on hold because nobody wants to risk investing in a sector that has so much insecurity." He said housing prices have risen as much as 20 percent.

"That has caused that the sector is restricted, which is left behind just a little bit in relation to came previously being developed because obvious when to a client it says to him that the house no longer costs a million pesos, but a million two hundred, obvious that the reaction is different. The client lies down for back, the business falls ", affirms.

He said the industry’s current situation is of uncertainty because what’ll happen after May 16 is unknown.

Wally Perez, real estate agent for Remax, says this month’s sales are down. He’s only sold two, which he attributes to the electoral process.

While Miguel Mejía, of Mer-K Realty, affirms their sales haven’t fallen though recognizes there have been better months. "There are many people who are holding back from buying but that’s mainly becasue of politics.”