By Escarlin Pozo
El Inmobiliario
SANTO DOMINGO- The former president of the Dominican Association of Housing Builders and Promoters (Acoprovi), Fermín Acosta, announced a series of proposals that could revitalize the construction sector in the Dominican Republic.
Among his proposals, he indicated the importance of creating a National Housing Fund to guarantee greater stability in access to housing credit.
“To permanently combat fluctuations in interest rates, it is advisable to establish a National Housing Fund that provides a rate subsidy for a specific period,” he stated in an interview with El Inmobiliario.
Acosta argued for the need to promote the construction of housing for rental purposes under legislation that protects both parties: the property owner as well as the tenant.
He also considered that the implementation of partial rent subsidies is fundamental to "reducing the housing deficit, combating the decline in construction, improving the economy and the quality of life of the population.".
These statements were made by the specialist when addressing the penultimate report of the Central Bank of the Dominican Republic, after announcing that, during the first two months of the year, a year-on-year decrease of -7.7% was reflected.
Fermín Acosta. (EXTERNAL SOURCE).
However, the autonomous state entity reported in its latest March report that the sector showed a rebound. Nevertheless, when analyzing the performance of the first quarter as a whole, the figures remain negative at -1.2%.
The former president of Acoprovi said that one of the factors that has negatively impacted construction in the country has been the difficulty in hiring labor and the increases in the costs of materials for building projects.
Expanding on the topic of immigrants, Fermín Acosta specified that this situation has affected different sectors of the nation, including the public and private sectors.
To combat this harsh reality, he revealed that the development and application of “measures aimed at identifying and formalizing workers are of great interest,” adding that, currently, “technology allows for easy identification and location.”.
“The country cannot relinquish its power to control migration, but it can hire foreigners who contribute to the economy and send back to their countries those who act differently, as is normal in many countries,” he said.
Starting from the need for labor, which has not only stagnated in the construction sector, the businessman emphasized that dual education in schools can become a "medium-term" option to ensure the availability of Dominicans who can work.
According to what he stated, this measure would contribute to the Dominican Republic in two important aspects: to the economic sectors and to the reduction of informal employment.
