SANTO DOMINGO.- The bill that regulates real estate brokerage and penalizes deceptive advertising in the Dominican Republic is advancing with broad support in the Senate, according to Senator Rafael Barón Duluc (Cholitín) of La Altagracia.
The initiative, approved in its first reading last Thursday, April 23, has achieved consensus among the various legislative sectors, which, according to the congressman, would facilitate its approval in the next stages.
“We see a high likelihood of approval. This is not a controversial project; it is a citizen protection initiative against a real problem that affects thousands of Dominicans,” the senator, one of the proponents of the legislation, told El Inmobiliario .
Legislative support drives the project
Duluc indicated that the support responds to the need to establish clear rules in the real estate market, especially in the face of practices that have generated distrust among buyers and investors.
The legislator explained that, after its approval in the first reading, the bill must undergo a second discussion in the Senate before being sent to the Chamber of Deputies, where it will follow the same process.
If approved in both chambers, the bill will go to the Executive Branch for its enactment and subsequent regulation, a necessary step for its implementation.
A step towards greater regulation
Although mechanisms such as Law 358-05 and the intervention of Pro Consumidor currently exist, the senator acknowledged that the current protection is insufficient.
“The protection is limited and reactive, that is, it acts after the damage has occurred,” he explained.
In this regard, the new legislation seeks to establish stricter controls, including the obligation of verified information in real estate advertising and the imposition of sanctions on those who engage in deceptive practices.
Market Impact
The project envisions significant changes in the way real estate is promoted and marketed, with the aim of reducing risks for buyers.
These include the implementation of state validation mechanisms and higher levels of oversight, which, according to Duluc, will help build trust in the sector.
“In short: the buyer will go from being unprotected to having legal certainty and transparency before investing,” he stated.
Short-term effects
Regarding its impact, the senator noted that, once the law is enacted, its effects could begin to be felt in a relatively short time.
“Its effects could begin to be felt in a few months. From the moment project verification is required and advertising is monitored, the market will begin to cleanse itself,” he said.
The legislator concluded that the objective is clear: to strengthen transparency, reduce fraud, and consolidate trust in the Dominican real estate market.
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