It was proposed that instead of giving 30% of pension funds to workers, they should be allowed to use part of them to buy their first home, given the importance of social growth for a family and the impact it would have on the country's economic development.
SANTO DOMINGO.- ACOPROVI, the Dominican Association of Housing Builders and Developers, yesterday raised the need to update the law that regulates rentals, with a modern regulation, adapted to the new times and that offers legal certainty to all parties.
Speaking at the seventh edition of the Housing Roundtable, the president of the organization, architect Jorge Montalvo, explained that updating Law 4314 on rentals would promote investment in the real estate sector for rental purposes.
“Access to decent housing doesn't necessarily mean being able to buy one; renting is also a way to access shelter, and in some countries it even represents up to 70% of those who live under that arrangement. In this country, the law governing rentals dates back to the 1950s, and we need modern regulations.”.
He stated that this is the next objective that the institution he represents will pursue, for which it is preparing a draft law, in coordination with other sectors, which will be presented in due course to the Executive Branch for its consideration.
Housing Roundtable 2021
The 7th Housing Roundtable was attended by President Luis Abinader, government officials, developers, and other stakeholders in the real estate industry. It provided a forum to discuss solutions for the sector, address current realities, and continue promoting initiatives for its development.
Mexican Oscar Ruiz Priego spoke virtually about sustainable housing development, while Colombian Luis Fernando Betancourt Meriño, speaking in person, elaborated on his country's experience with urban managers, a figure introduced in the country in the new Housing Law; among other panelists.
Carlos Bonilla, Minister of the Ministry of Housing, Habitat and Buildings (MIVHED), spoke about the government programs Happy Family and My Home and their benefits to vulnerable populations.
ACOPROVI said that it also expects the government to implement the Zero Bureaucracy initiative, which will promote the competitiveness of all productive sectors, with agile and fast processes in permitting, construction, titling and mortgage registration, which would boost investment in the real estate sector of our country.
Various brands linked to the construction industry took advantage of the event to present their products and innovations, including Industrias Bisonó, Industrias Aguayo, among others.
The conclusions reached in the various panels and presentations defined the guild's agenda for the coming months, in which it will continue to promote the actions demanded by the housing construction sector to remain one of the pillars of stability and economic reactivation after the effects of the pandemic.
30% pension funds
Montalvo proposed that instead of giving 30% of pension funds to workers, members should be allowed to use part of the funds for the sole purpose of acquiring their first home, given the importance of social growth that a home represents for a family and the impact it would have on the country's economic development.
