SANTO DOMINGO. – The Cibao Housing Developers and Builders Association (Aprocovici) welcomed the Monetary Board's measure, which aims to boost the real estate and construction sector by releasing RD$35 billionfor loans to build and purchase homes, although it acknowledges that multiple challenges remain in addressing the housing deficit and infrastructure deficiencies in the country.
The entity also cited high construction costs as a challenge that must be overcome, after inviting the rest of the government authorities related to the sector to integrate a long-term vision of public policies that seek to close the existing gaps
“We value this program as an important step towards strengthening the real estate ecosystem, a key pillar for the country's economic development. However, we emphasize the need to continually adapt and expand the authorities' strategies to meet current market demands, particularly in a context marked by a housing deficit and insufficient infrastructure, along with higher construction costs,” stated Sandy Rodríguez, president of the association.
Sandy Rodríguez, president of the board of directors of Aprocovici. (EXTERNAL SOURCE).
The association representing construction companies in the Northern region believes that the announced interest rates represent an improvement over current market conditions, but still pose a challenge for many Dominican families, especially those with lower incomes.
“We recognize that this effort adds to the monetary measures adopted in the past, and we hope that it will be as effective as those implemented in previous years,” the businessman emphasized in the document sent to El Inmobiliario.
He said that Acoprovi understands that public policies should include the creation of incentives for sustainable and highly energy-efficient, as well as the development of key infrastructure, especially those related to intercity transport.
“Previous experiences have shown that these types of investments not only have a multiplier effect, but also improve the quality and accessibility of housing, increase property values, and generate a considerable economic boost in the regions where they are implemented,” he noted.
The organization reiterated its willingness to collaborate with monetary authorities to explore additional mechanisms to improve access to financing, always respecting the autonomy and independence of the Central Bank, and ensuring that the benefits of these policies are extended more widely.
“At Aprocovici, we reiterate our commitment to collaborate closely with the authorities and the financial sector to promote policies that not only transform access to housing, but also strengthen the role of construction as a pillar of economic development in the Dominican Republic,” he emphasized.
