The only effect that is noticeable is that of the construction materials going to the moon. As such the beat of hammers is in a lull (in some places).
The reverse happens; most already constructed homes go up in price as the tag to build a comparable one with the rising material prices makes them all more a sweet deal for the purchase.
Let me be blunt here and tell you that in the HISTORY of the DR, real estate is the only thing that goes up and stays up for good...
Empty lots, agricultural acreage lose value as the market exchange rates fluctuate from time to time. The gain back value again but ever more slowly against the backdrop of already constructed homes or lots with commercial edifications on them.
I know of friends that purchased once hot property for home construction, only to see the contractor fold the tent as the budget for the general works becomes too expensive to even try. The lots are titled as land for development, but no streets, sewage or anything remotely liken to a lot partitioning has taken place.
He can point the whereabouts of his titled land, but the lot sits in the middle of hundreds of the others lots still without any visible partition.
He can sell the lots if and only if, another contractor makes a bid to a good majority of lot owners and handles enough funds to make the villa a reality.
His lot is worth sh*t to say the least, still keeps the original value but has lost any equity gained since initial purchase and bid for project started.
That's the kind of real estate deal that is not as safe as buying a home in the DR. The only people that sell property at a loss in the market of the DR are foreigners that either want to move someplace else in the country or can't afford paradise anymore and need the money ASAP...
The RE market of the DR shares very little with the US one, mostly due to the cash vs. loans deals that are concurrent in each market.
In the DR there can't ever be a bubble to burst, simply because there isn't one to start with.
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