SANTO DOMINGO.- Alberto Bogaert, president of the AEI, the Association of Real Estate Agents and Companies, assured yesterday that the bill seeking to regulate the practice of real estate agents in the Dominican Republic will be considered by the National Congress when the first ordinary legislative session of 2025 begins.
The Special Commission that studied the real estate brokerage bill in the country reported last week that it issued a positive report on the bill that seeks to strengthen the real estate sector in the country.
Braulio Espinal, the president, indicated that it is now up to the coordinating committee to place the project on the congressional agenda, so that it can be presented to the Chamber of Deputies.
“It will be introduced and considered in the Chamber of Deputies during the next legislative session, and subsequently in the Senate. We are working intensively to achieve this long-awaited law,” Bogaert told El Inmobiliario.
He stated that the AEI highly values the favorable report from the Special Commission that studied the bill, and that the Commission met regularly to analyze all its details.
He added that the assessment was as expected. “Congress and various government agencies are in favor of regulating the real estate sector, and work is underway to have it approved by legislators in 2025,” the real estate leader emphasized.
Regarding 2025, Bogaert believes the real estate sector will be active throughout the year with numerous unit deliveries and the launch of many other projects nationwide. He considers that the sector he represents, along with the construction industry, will continue to be an important part of the Dominican economy.
Alberto Bogaert. (EXTERNAL SOURCE).
Regarding the bill
The proposal seeks to regulate, supervise, develop and promote an orderly, efficient and transparent real estate brokerage market, with the aim of protecting the rights and interests of both property buyers and real estate sellers and developers.
Similarly, the aim is to preserve confidence in the Dominican real estate market by establishing conditions that ensure information on the promotion of real estate transactions is truthful, sufficient, and timely, in order to contribute to the country's economic and social development.
