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The AEI Certification is coming so you can enter the world of real estate through the front door

From six in the evening to nine at night, classes will be held covering various topics related to the real estate sector, such as appraisal, ethics, digital marketing, property acquisition, the legal aspects of the profession, trusts, team leadership, among other interesting aspects.

SANTO DOMINGO- If you are new to the real estate sector or wish to reinforce your knowledge, the training that will be carried out by the AEI, Association of Real Estate Agents and Companies, will support your plans.

“CBR 01 Certification, Real Estate Training and Management for New Agents”, will be held from the 16th to the 20th of this month, in virtual mode, as part of the training program that this entity carries out for real estate agents who plan to enter the sector with growth prospects.

For twenty hours, in a virtual format, leading professionals in the real estate field will share their experience and knowledge with participants, who will have the opportunity to exchange ideas and have their questions about the profession answered.

Classes will be held from 6:00 p.m. to 9:00 p.m. and will cover various topics related to the real estate sector, such as appraisal, ethics, digital marketing, property acquisition, the legal aspects of the profession, trusts, team leadership, and other interesting subjects.

"Enter the market in a structured way that guarantees your success as a real estate agent. "An experience that will take you to the next level," states the AEI on its Instagram account.

He points out that "if you want to strengthen your knowledge, this excellent experience will change your perspective of the real estate world.".

Among the exhibitors are Irlonka Castillo, Claudia Castillo, Iván Guerrero, Marbel Lugo, Roberto Carlos Jorge, Robinson Cuello, Edgar Arguello, Alenny Garabito, Teresa Pérez, among others.

If you would like more information, please contact servicios@aei.com.do, or connect to the entity's social media at aeiorg, or let us know your concerns by calling or writing to 829-763-5659.

Stay informed with this compilation of news of national interest; protests are growing over deaths at the hands of the police

President Abinader receives a visit from an International Monetary Fund mission; the Superintendency of Banks and IMF representatives evaluate the financial sector's performance; the government will begin distributing 4,000 property titles in Sabana Grande de Boyá; Uber loses $5.93 billion in the first three months of the year; the Fed raises interest rates to control inflation in the U.S.; protests continue demanding an end to deaths in the National Police; more than 3,500 pieces of evidence and 30 defendants in the Coral cases; relatives of David de los Santos call for a large demonstration this Saturday at Plaza de la Bandera; Ocoa will also protest; a senator submits a resolution to eliminate ID and birth certificate requirements for passport renewals

President Abinader receives visit from mission of the International Monetary Fund

President Luis Abinader met with the governor of the Central Bank (BC), Héctor Valdez Albizu, the executive director of the International Monetary Fund (IMF), representing Brazil, Afonso Bevilaqua, and Esteban Vesperoni, head of the IMF mission, as part of the visit that the Fund's technicians are making to the country. 

Superintendent of Banks and IMF representatives evaluate the performance of the financial institution

The Superintendency of Banks (SB) received a visit from a mission of the International Monetary Fund (IMF), which is in the Dominican Republic to prepare its annual report on the country's economic performance and the state of its financial system. This is the first in-person visit by an IMF mission since the start of the Covid-19 pandemic.

Government will begin delivering 4,000 property titles in Sabana Grande de Boyá

Several government institutions have begun the technical and legal work for the titling process to provide 4,000 definitive property titles to the same number of families who occupy plots, lots and houses in the municipality of Sabana Grande de Boyá, in Monte Plata.

Uber loses $5.93 billion in the first three months of the year

The American multinational transportation company Uber announced on Wednesday net losses of $5.93 billion during the first three months of 2022, about 55 times more than what was lost in the same quarter of the previous year. 

The Fed raises interest rates to control inflation in the US.

The Federal Reserve intensified its fight against the worst inflation in 40 years in the United States on Wednesday, raising its benchmark short-term interest rate by half a percentage point and indicating that further increases were expected in the near future. With the increase, the short-term interest rate moved into the 0.75% to 1% range, its highest level since the start of the pandemic two years ago.

Protests continue demanding an end to the killings in PN

Silently, in a line, holding candles, dozens of relatives of David de los Santos protested again last night, demanding justice for the death of the young man from the municipality of Los Alcarrizos while he was detained at the National Police station in the Naco neighborhood. Last night's peaceful protest took place in front of that same station, where David was taken after an alleged incident at the Ágora Mall shopping center.

More than 3,500 pieces of evidence and 30 defendants in the Coral cases

The indictment filed by the Specialized Prosecutor's Office for the Prosecution of Administrative Corruption (Pepca) against those involved in the Coral and Coral 5G cases names 30 individuals and 18 legal entities, accused of defrauding the Dominican State of more than 4 billion pesos. Mirna Ortiz, a court prosecutor and litigation coordinator for Pepca, filed the indictment with the coordinating office of the National District's Examining Courts, presided over by Kenya Romero.

Relatives of David de los Santos arecalling for a large demonstration this Saturday in Plaza de la Bandera; Ocoa will also protest.

Friends and family of David de los Santos have called for a rally this Saturday at Plaza de la Bandera, demanding justice for his death. David's loved ones protested last night with candles, banners, and dressed in black in front of the police station in Ensanche Naco, where he was taken after being arrested at the Ágora Mall shopping center. Relatives of José Gregorio Custodio (Cuba), who died on Monday, April 18, from a beating at the police station, have also announced a march demanding justice.

Senator submits resolution to eliminate ID and birth certificate requirements when renewing a passport

During Tuesday's session, Senator Franklin Rodríguez of the People's Force party submitted a resolution to the Senate seeking to streamline the passport renewal process at the General Directorate of Passports, whether the passport is damaged or expired. The resolution's main objective is to eliminate the requirement for citizens to present their original birth certificate and national identity card, as these documents are simply no longer necessary.

Sources: Hoy, Listín Diario, El Día, Diario Libre

Dampness from leaks can cause respiratory and skin problems, says pulmonologist Ivelise Acosta

“My recommendations as a pulmonologist are that we must avoid, for example, in relation to leaks in the structures, we must correct them; keeping those walls with that humidity with mold and spores represents a danger because at some point they will be inhaled and will be harmful; that is a high risk because people sleep and live there,” says the specialist.

SANTO DOMINGO.- The humidity pollution caused by leaks can generate health problems for people living in the environment, such as respiratory and skin problems.

Dr. Ivelise Acosta, a pulmonologist and former president of the Society of Pulmonology and Thoracic Surgery, cites atopic dermatitis, conjunctivitis, sinusitis, and asthma as some of the diseases that can be triggered by constant humidity.

“The presence of humidity favors the appearance of microorganisms, such as fungi, mites, bacteria, so to the extent that one is more exposed to the mold that is produced as a consequence of constant humidity, the person may develop respiratory symptoms,” he explains.

She maintains that some people, upon contact with humidity, begin to sneeze, experience itching in their nose and eyes, and develop skin and conjunctival irritation. She points out that some people are more sensitive than others and "have a radar, and as soon as they come into contact with a humid environment, and as a consequence of that odor where the microparticles are present, they begin to react.".

The former Deputy Minister of Collective Health of the Ministry of Public Health argues that in the case of children, whose immune system has not matured, they are much more exposed to aggressions related to infections of any kind.

Dr. Ivelise Acosta, pulmonologist. (External source).

He believes that not everyone reacts the same way to different types of environments; some are affected immediately, while others take longer and experience slower symptoms, "but in the end we all breathe it in, and as the contact becomes more constant and the exposure greater and for a longer period of time, you're sure to experience symptoms at some point.".

Recommendation

“My recommendations as a pulmonologist are that we must avoid, for example, in relation to leaks in the structures, we must correct them; keeping those walls with that humidity with mold and spores represents a danger because at some point they will be inhaled and will be harmful; that is a high risk because people sleep and live there,” says the specialist.

Acosta believes that the country has a high humidity climate and that stored objects such as books should be aired out because otherwise, when used, they are full of spores that are inhaled and can trigger crises such as in asthmatics or bronchitis sufferers.

It suggests keeping under control all those environmental conditions that contribute to polluting the air, which is what we breathe.

Construction continues to boost the economy with 6.3% growth in the first quarter of the year

Construction activity experienced an average year-on-year growth of 6.3% in January-March 2022, a variation that places the level of the volume index of the aforementioned activity at 24.6% above that recorded in January-March 2019 and 30.8% higher than in the same period of 2020.

SANTO DOMINGO.– Despite the challenges it has faced recently, the construction sector maintains its dynamism, growing by 6.3% and placing itself among the main sectors that boosted the Dominican economy in the January-March quarter of this year, according to the monthly economic activity indicator (IMAE) of the Central Bank of the Dominican Republic (BCRD).

According to the preliminary economic results for March 2022, released by the Central Bank of the Dominican Republic (BCRD), the Monthly Index of Economic Activity (IMAE) registered a growth of 6.4% in March of this year, which, together with the variations of 6.3% in January and 5.8% in February, results in a year-on-year expansion of 6.1% during the first quarter of 2022.

Among the economic activities that had the greatest impact on the dynamism of January-March 2022 are: hotels, bars and restaurants (39.3%), other service activities (11.0%), transport (8.8%), communications (8.2%), commerce (7.8%), energy and water (7.5%), health (7.3%), public administration (7.4%), manufacturing in free zones (6.8%), construction (6.3%), among others.

Construction activity experienced an average year-on-year growth of 6.3% in January-March 2022, a variation that places the level of the volume index of the aforementioned activity at 24.6% above that recorded in January-March 2019 and 30.8% higher than in the same period of 2020.

This means that the sector continues to solidify its position as one of the most significant contributors to the Dominican economy, due to its substantial multiplier effect and its ability to drive growth in other productive activities. According to the report, the sector's performance during the first quarter of the year was driven by the execution of privately funded residential, industrial, and tourism development projects, as well as major civil engineering and infrastructure projects undertaken by the government.

Similarly, the results at the end of March are reflected in the performance observed in local sales volumes of the main inputs for this industry, such as rebar (31.2%) and cement (2.6%), as well as in the revenue generated from the sale of the remaining materials (34.0%). Conversely, the imported volume of asphalt cement decreased by 1.1%

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Other lines

The hotel, bar, and restaurant sector showed an average year-on-year increase of 39.3% in terms of real value added, contributing approximately two percentage points (pp) to the IMAE (Monthly Index of Economic Activity) result for January-March 2022. The sector's dynamism is supported by external demand for the country's tourism services, reflected in the arrival of 1,714,947 non-resident passengers during the first quarter of the year, equivalent to a year-on-year growth of 139.2%, primarily from the United States. The average hotel occupancy rate was above 70% in March. This trend continued in April, according to preliminary data provided by the Minister of Tourism, which indicates that 626,010 tourists arrived in the country, representing a 91% increase compared to April 2021.  

On the other hand, regarding commerce and transportation, these activities showed a notable increase in their added value of 7.8% and 8.8%, respectively, during the period under analysis. These two sectors are interconnected through the distribution chain of goods for local consumption. In this sense, the results are consistent with the sustained flow of local and imported goods in the economy, the increase in the volume of goods transported to points of sale for commercialization, as well as the greater dynamism in land passenger transport, associated with the rebound in private consumption. The combined contribution of these two activities to the growth of the Monthly Index of Economic Activity (IMAE) in January-March was 1.6 percentage points, representing one-third of the aforementioned year-on-year increase of 6.1%.

Monetary policy and inflation

Regarding prices, inflation dynamics continue to be affected by more persistent external pressures than anticipated, associated with the increase in the price of oil and other raw materials important for local production, the high cost of freight, and other disruptions in global supply chains, which have intensified with the conflict between Russia and Ukraine. Indeed, the average price of oil rose from US$71.7 in December 2021 to US$108.5 per barrel in March 2022. In this context, accumulated inflation during the first three months of the year reached 2.80%, while year-on-year inflation stood at 9.05% at the end of March.

Given this scenario, and taking into account the rapid economic recovery, the Central Bank of the Dominican Republic (BCRD) continues to implement measures to counteract external shocks to prices and contribute to the convergence of inflation to the target range. Indeed, since November 2021, the BCRD has increased its monetary policy rate by 250 basis points, bringing it to its current level of 5.50% per annum, in line with the international cycle of interest rate hikes.

Source: Listín Diario

Today's news: Dominican economy grew 6.1% in the first quarter of this year

Protesters demand justice for David's death in the plaza; IMF says Dominican economy shows remarkable recovery, growing 6.1% in the first quarter of this year; Apordom signs sister port agreement with Curaçao company to position the Caribbean as a world cruise destination; country seeks to advance its renewable energy goal; Pedernales plan hangs by a thread due to environmental concerns; Berenice assigned to prosecute police crimes; what happened to the X display plate and why can't it be used anymore?; Dominican Republic deploys military to the border with Haiti after kidnapping.

They demand justice for David's death in the plaza

With lit candles and banners in their hands, family, neighbors, friends, classmates and coworkers of Professor David de los Santos gathered last night in front of the Ágora Mall shopping center in a vigil to demand that the authorities clarify his murder in a police station.

IMF says Dominican Republic economy shows remarkable recovery

Valdez Albizu informed the IMF staff and Bevilaqua that the Dominican economy recovered faster than anticipated in 2021, with a remarkable growth of 12.3%, equivalent to a 4.7% expansion compared to the pre-pandemic level of real output in 2019. He also noted that this strong performance has continued into the first quarter of this year, with cumulative growth of 6.1%, resulting from year-on-year variations in the Monthly Index of Economic Activity (IMAE) of 6.3% in January, 5.8% in February, and 6.4% in March 2022.

The Dominican economy grew 6.1% in the first quarter of this year

The Dominican economy registered average growth of 6.1% in the first quarter of this year and 6.4% in March, the Central Bank (BCRD) reported yesterday. It highlighted the country's resilience in facing adverse international conditions that impacted domestic aggregate demand. Accumulated inflation during the first three months of the year was 2.80%, while year-on-year inflation stood at 9.05% at the end of March.

Apordom signs sister port agreement with Curacao company to position the Caribbean as a world cruise destination

The Dominican Port Authority (Apordom) and the Curaçao Port Authority signed an international sister port agreement on Tuesday. According to a press release issued by the Authority, the agreement was reached “with the objective of strengthening ties and exchanging information to improve port management and processes in both nations, and thus position the Caribbean as a world-class cruise destination.”. 

The country seeks to advance towards its goal of increasing the use of renewable energy

The Dominican Republic is making progress towards the goal of supplying 25% to 30% of its energy service with renewables, a percentage that is currently between 10% and 12%, but it is expected that next year that number will reach 18%.

The Pedernales plan hangs by a thread due to the environment

Outside the Pedernales provincial government building, a pro-government demonstration is underway, and a man holds a colorful handwritten sign that reads: “Cacti, buckthorn, and guasábaras are not above man.” His message is stark and encapsulates in a single line the biggest challenge for this province’s ambitious development project: reconciling economic benefits with environmental realities.

Berenice is assigned to investigate police crimes

The Director General of Prosecution for the Public Prosecutor's Office, Yeni Berenice Reynoso, will coordinate the investigations into the cases of citizens who have died after being detained in police stations. The Deputy Attorney General will coordinate with the relevant prosecutors' offices the investigations into the death of David de los Santos, who was being held at the Naco police station.

What happened to the X display plate and why can't it be used anymore?

The Dominican Republic's Internal Revenue Service (DGII) invalidated the X-shaped display plate last Monday, replacing it with the electronic temporary license plate (PPE). The agency decided to switch to the PPE, an electronic document with a QR code, which allows for temporary vehicle identification within the national territory, using the initial designation "PP," for circulation on public roads.

Dominican Republic deploys military to border with Haiti after kidnapping

The Dominican Republic Army deployed a military contingent to the border with Haiti on Tuesday following the kidnapping of the agricultural advisor of its embassy in Port-au-Prince, Carlos Guillén Tatis, who was captured on Friday by an armed gang in the neighboring country.

Sources: Hoy, Listín Diario, El Día, Diario Libre, El Caribe

See here the number of non-resident tourists the country received last April

He stated that this growth represents 13% above April 2018, 7% above April 2019 and 91% more than the same month in 2021.

SANTO DOMINGO- Tourism reached record levels again in April, with the arrival of 626,010 non-resident visitors, "making it the best April in the history of the Dominican Republic."

This was revealed by the Minister of Tourism, David Collado, who stated that this growth represents 13% above April 2018, 7% above April 2019 and 91% more than the same month in 2021.

“The recovery of tourism is a reality. We did it again. The growth we achieved in April is unprecedented. It is the best April in the history of Dominican tourism,” said Minister Collado when presenting the figures recorded by the industry last month.

Among non-resident foreigners, tourist arrivals totaled 513,195, representing a 2% increase over April 2019 and a 5% increase over 2018. Non-resident Dominicans accounted for 112,815 arrivals, a 77% increase over April 2019 and a 41% increase compared to the same month in 2018.

Of that number of tourists, 60% arrived through Punta Cana airport, 23% through Las Américas, 11% through Santiago, 5% through Puerto Plata and the remaining two percent through other air terminals.

Collado stated that occupancy rates in tourist areas have noticeably improved in the various destinations across the country.

In tourist hotspots like Bavaro-Punta Cana, occupancy went from 48% to 79%, while in La Romana-Bayahibe the increase was from 48% to 85%.

This increase is also being seen in other destinations. Occupancy rates in Samaná are at 66%, 61% in Greater Santo Domingo, 60% in Puerto Plata, and 55% in Santiago, among others.

best April ever

Minister Collado also highlighted the increase in cruise ship arrivals in April, "which has a direct impact on the population where the ships arrive.".

He reported that in April 129,440 people visited the country by sea through the different ports that operate in Puerto Plata, La Romana and Samaná, among others.

“Something we must highlight, in addition to these extraordinary numbers for April, is the satisfaction expressed by those who visit us,” Collado stated.

He stated that more than 93 percent said they would vacation in the country again.

The official assured that he will continue working hand in hand with ASONAHORES and the other members of the Tourism Cabinet and predicted that this year will close with the historic figure of more than 7,000,000 non-resident visitors.

Minister Collado acknowledged the joint work with the different actors in the private sector tourism industry who were represented by the National Association of Hotels and Tourism (ASONAHORES).

Leaks devalue building prices

According to Contreras, who has been in the sector for nearly 20 years, the causes of leaks in buildings constructed by companies and independent professionals could be due to the aging of their roofs, thinness and waterproofing materials, or poorly installed water tanks and pipes 

SANTO DOMINGO- Constant leaks can damage buildings, their foundations or structures, footings, beams, columns and slabs, as well as cabinets and closets, a situation that ends up devaluing their costs in the market, says the architect and builder Ernesto Contreras.

These conditions are compounded by the discomfort caused by humidity, bad smells, and even skin and respiratory diseases that can be caused by the presence of fungi in the buildings where they occur.

Contreras cites the reasons why leaks can occur, stating that they originate from rainwater, water from pipes, or soil moisture.

“When they come from the roof, their causes are generally due to deterioration of the upper surface layer of the roof or plate, that is, the “roofing finish” or its waterproofing, whose poor condition can occur due to aging or original defects such as poor quality of work and/or material of the finish, or of the waterproofing if it has one,” he explains. 

Other leaks he mentions are those that occur on the floors below the top level, which can be caused, he points out, by defects in the roof of the floors above or by the aging of the pipes in bathrooms and kitchens on the floors above these. 

“Finally, there are leaks in the walls of the first floors, which can happen due to the presence of water in the soils under floors or in walls that are attached as if they were retaining walls to damp and sloping terrain,” the expert explained.

According to Contreras, who has nearly 20 years of experience in the field, the causes of leaks in buildings constructed by companies and independent professionals could be due to the aging of their roofs, thinness and waterproofing materials, or poorly placed water tanks and pipes.

 He argues that the concrete and mortar used by construction companies is industrial material, of quality and with proper procedures, which he believes cannot be said to "rely on informal constructions that employ questionable personnel and even materials of questionable quality.". 

“The roofing layer is a surface or layer on top of the slab, a mortar or mixture of coarse sand, cement, and water, with technical specifications regarding the proportions and cleanliness of each component of the mixture. Among these specifications is that the sand must be clean, washed, and free of any dirt or clay, because when water is present, small cells or holes form in it, and when water penetrates them, it damages the roofing layer, thus creating leaks,” he explained.  

He argued that for the issue of leaks, the market offers a variety of companies that provide multiple technologies, both for detecting water leaks and seepage, as well as materials to correct them.

This is how the real estate industry congratulated its employees on Labor Day

“Today we want to honor each and every one of our employees for their dedication and commitment to our clients. These professionals are always ready to provide the best service. We are proud of everyone who is part of the Premium Real Estate family. Happy Labor Day to all!”

SANTO DOMINGO – The real estate industry took advantage of May Day to celebrate and recognize the performance of its employees. Through their social media accounts, various companies sent congratulations and words of gratitude to their teams in honor of their day.

“Thanks to #TeamNoval, we have revolutionized the tourism real estate sector, because we have a team of top professionals. For 18 years, we have been supported by collaborators who have made Noval Properties a leader in tourism real estate innovation. Happy Labor Day!”

The Association of Real Estate Agents and Companies (AEI) posted: “Our passion for what we do defines us. Happy Labor Day to all #realestateagents, especially our AEI members.”

Bisonó Construction Company expressed itself as follows: “On behalf of the Bisonó Construction Company family, happy Labor Day.”

Housing 1st: Yesterday we celebrated and today we enjoy it. We congratulate all the honest and tireless workers.”

The Dominican Association of Portland Cement Producers(ADOCEM) also joined in the workers' celebrations: “Thank you, because from your different areas, you contribute to the development of our society. Happy Labor Day!”

From Premium Real Estate: “Today we want to honor each and every one of our employees for their dedication and commitment to our clients. These professionals are always ready to provide the best service. We are proud of everyone who is part of the Premium Real Estate family.
Happy Labor Day to all!”

Pinturas Tropical also posted on its social media: “Today we commemorate Labor Day, with the aim of highlighting and celebrating the contributions that each worker makes to the nation through companies or businesses. Let's applaud those people who strive every day and give their best.”

The Ministry of Housing and Buildings (MIVEDRD) said that "Today, on International Workers' Day, we congratulate every Dominican who, with their work and commitment, builds a better future for their family and the country." 

“There are many different jobs around the world, but they all share a single objective: to achieve the goal and do it well to provide quality and good service. Happy Labor Day to all the workers who, with effort and dedication, have given their all to keep moving forward day by day. Happy Labor Day,” posted BC Real Estate.


Vistana Construction also used its social media to recognize the efforts of its employees. “Happy Labor Day! To all those who are the driving force of our country's economy and build a better tomorrow for everyone. Especially to the entire #TeamVistana team who strive every day, we wish you all the best.”

“Choose a job you love, and you will never have to work a day in your life.” Happy Labor Day! Especially to our amazing Grupal team,” posted Grupal Real Estate.

Múdate expressed : “This day recognizes hardworking people like you!! Happy Labor Day from our big family.”

MC Hardware Store: “Today, May 1st, #LaborDay, we want to congratulate all #Workers on their day, especially our employees, for the responsibility and effort they give us every day.”

Mr Home also sent his congratulatory message through his account : “Many congratulations to all those who work, who have a job, a business, or who do things they love, especially those who generate well-being both economically and personally, and contribute to society. To everyone. Happy International Workers' Day!”

Plusval thanked its employees in this way: “Today we want to thank all the employees who make up the Plusval family. It is a joy for us to be able to celebrate with you this well-deserved recognition for the hard work you do every day. You are our key piece!”

Minister of Housing highlights before the UN government's efforts to reduce the housing deficit in the Dominican Republic

Carlos Bonilla highlighted that the Law on Territorial Reorganization, Land Use and Human Settlements was submitted to the National Congress, which incorporates the instruments of territorial planning at the national, regional and municipal scales.

The Minister of Housing and Buildings, Carlos Bonilla, highlighted before the United Nations (UN) the efforts deployed by the Dominican Government to reduce the housing deficit; highlighting the various programs launched during the current administration.

While participating in the high-level meeting of the UN General Assembly on the implementation of the new urban agenda in housing, Bonilla highlighted the programs and progress that the Dominican government has made in this area.

He said that his administration remains committed to building a better future for Dominicans, reducing the housing deficit and generating solutions to provide a decent and safe roof over the heads of the most vulnerable families.

He stated that the government of President Abinader is making great efforts to address the significant housing deficit it inherited.

In this regard, Bonilla highlighted that the law on territorial reorganization, land use and human settlements was submitted to the National Congress, which incorporates the instruments of territorial planning at the national, regional and municipal levels.

"For the first time in history, the Dominican Republic has a ministry that centralizes, supports, and promotes all issues related to housing development and access in the country," he explained.

During her participation at the UN, she spoke about the programs being implemented by the Ministry of Housing and Urban Development (MIVED) to support Dominicans. We have developed the Dominican Republic Rebuilds Program, which seeks to improve the qualitative deficiencies of Dominican homes through three pillars: housing improvements, a flooring replacement program, and a rapid action program that provides immediate assistance to citizens in emergency situations,” she stated.

Under these three pillars of the Dominican Republic Rebuilds Program, -he added- 22,000 families have been impacted throughout the national territory, representing around 1,500 homes per month.

Bonilla also spoke about the "My Home" program, a construction project through targeted subsidies, which has transformed the way government aid is granted in the real estate sector.

“These subsidies for home purchases can cover up to 60 percent of the property cost. The difference is covered by the beneficiary through long-term financing with local banks, under favorable financial conditions, which allows them to maintain their current living expenses,” Bonilla stated.

Minister Bonilla thanked the authorities for the opportunity to represent our country at the meeting and to present the progress made in housing in the Dominican Republic.

 “"I am proud to say that we work on initiatives that change lives, that make dreams come true because a house is much more than 4 walls, a decent and safe roof that they can call home is the starting point for a family's progress," he said.

Nine news stories of national interest; shock over the death of David de los Santos, after being detained at a police station in Ensanche Naco

Prisoner deaths shock the nation; Public Prosecutor's Office takes over investigation into the death of David de los Santos; nearly 80% of Dominican workers still earn less than 30,000 pesos; troops deployed to the border following the kidnapping of a diplomat; less than a year after its inauguration, the Gregorio Luperón tourist highway suffers new landslides; Luis Abinader: If the quality of life for workers is not improved, then the government has failed; progress in the least developed countries is stalled by multiple crises; the country needs labor reform that includes the regulation of teleworking; the world prepares for famine; subsidies to the population jeopardize budgetary stability

Prisoner deaths shock the nation; Public Prosecutor's Office takes over investigation into the death of David de los Santos

Upon learning of the death of a young man who was being held at the police station in Naco, President Luis Abinader expressed his “dismay” at the crime last night and promised that, during his administration, “no case of this nature will go unpunished.” The Public Prosecutor’s Office has taken over the investigation into the death of David de los Santos, which occurred Sunday afternoon at a hospital where he had been taken from the police station in Ensanche Naco, where he was being held.

Almost 80% of Dominican workersstillearn less than 30,000 pesos

The economic crisis caused by the pandemic has led to the highest inflation recorded in recent years in the country. The income of most workers remains below RD$30,000, while the cost of the basic food basket for the lowest-income population reached RD$24,367.08 last March, according to the Central Bank (BCRD). According to the Labor Overview of the Dominican Social Security System (SDSS) and Social Security Treasury (TSS) collection statistics for February 2022, 33.57% of jobs pay between RD$15,000 and RD$30,000; 26.13% pay between RD$10,000 and RD$15,000; and 14.78% pay between RD$5,000 and RD$10,000. and 3.35% less than RD$5,000, this means that the maximum salary in 77.83% of formal jobs in the country is RD$30,000. Only a small group, representing 10.83%, is paid between RD$30,000 and RD$50,000 and 11.34% of employees have the privilege of earning more than RD$50,000.

Troops deployed to the border following the kidnapping of a diplomat

A large and unusual military deployment is visible at this point on the border with Haiti, following the kidnapping of Carlos Guillén Tatis, agricultural advisor at the Dominican embassy in Port-au-Prince. According to Dominican authorities, Guillén Tatis is being held by the notorious Haitian gang 400 Maowozo, abducted by the criminal group that operates outside the law, as the diplomat was traveling from Haiti to the Dominican Republic.

Less than a year after its inauguration, the Gregorio Luperón tourist highway has suffered new landslides

The Gregorio Luperón tourist highway that connects Santiagowith Puerto Plata, which was inaugurated last August, is experiencing landslides despite having been built to international standards for mountain roads and at a cost exceeding 4.245 billion pesos. 

Luis Abinader: If the quality of life of workers is not improved, then the government has failed.

On the occasion of International Workers' Day, President Luis Abinader held a luncheon with union leaders to discuss issues of interest, accompanied by the Minister of Labor, Luis Miguel De Camps. During the meeting, the President emphasized that the government's focus is on "growing the economy while defending workers' rights, because if the quality of life for workers is not improved, then the government has failed," he stated.

The progress of the least developed countries is stagnating due to multiple crises

Economic and social progress in the Least Developed Countries (LDCs) has been hampered by the impact of the COVID-19 pandemic, climate change, and the ongoing energy and food crises. According to a report by the International Labour Organization, most LDCs responded quickly to the pandemic by implementing a wide range of support measures, despite widening financial gaps and limited fiscal space.

The country needs labor reform that includes the regulation of teleworking

Young people and professionals will need specialized technical skills to meet post-pandemic job demands and the requirements of new work models, according to a report by the National Institute of Technical and Vocational Training (Infotep). With International Workers' Day celebrated on May 1st, it is necessary to assess the challenges and opportunities facing the national productive sector, especially as the country's economic activities begin to restructure following the devastation caused by the COVID-19 pandemic.

The world is preparing for famine

Climate change, the pandemic, and the war in Ukraine are pushing the world toward unprecedented famine. Several countries have responded by suspending exports to ensure their populations can feed themselves. Others, like Spain, are authorizing the cultivation of fallow land to guarantee food security for their people.

Subsidies to the population put budgetary stability at risk

Government subsidies to various social sectors of the country, such as fuel, economic aid programs, import financing, and the sale of basic goods at low cost, among other measures, jeopardize the stability of the National Budget, affecting government investments. According to economist and professor at Columbia University, Xavier Sala-i-Martin, the economic support provided by the government to citizens is a temporary solution that could lead to long-term inflation, meaning continued price increases if the Central Bank (BC) does not raise its Monetary Policy Rate (MPR).

Sources: Listín Diario, Hoy, El Día, Diario Libre

Government must reduce obstacles to the construction sector

SANTO DOMINGO- By supporting the recovery of the cement and rebar industry, the State would contribute to the movement of other sectors of the economy, benefiting various citizen sectors that also pay taxes.

This would be a way to reduce obstacles from overwhelming external and structural components locally without real fiscal sacrifices, argues the editorial of the Hoy newspaper on May 2nd.

Under the title "Freeing the construction sector from adverse factors", the morning paper argues that current global and local contexts negatively impact operating costs and final prices to the detriment of developers and buyers, reducing the dynamism of investments.

"It is very important that the construction sector continues at the pace that has characterized it for decades, contributing to this being one of the countries with a high Gross Domestic Product while playing an important role as a generator of jobs," is the position on this date.

The newspaper Hoy considers that, as a sector of the economy, building structures for residential or business purposes, from micro to larger dimensions, increases the wealth of Dominican society by providing, obviously, better habitats for families and more buildings of a utilitarian nature.

“Some adjustments formally requested by builders and real estate and mortgage agents aim to relax liquidity controls for six months in access to financing and alleviate the burden of tariffs and VAT that intensify the high cost of imported raw materials, which would be achieved by reviewing how they are calculated,” the editorial says.

The request from the industry associations

In a statement issued last week, three construction organizations requested the State to evaluate, in conjunction with the Commission for the Regulation of Unfair Trade Practices and Safeguard Measures (CDC), the need to eliminate the current antidumping measures for a period of 6 months, which would allow the entry of essential construction products, such as steel, among others, with the tariff established for it, without any penalty or additional cost.

Similarly, the construction sector associations are proposing monetary and financial initiatives, with a view to creating the conditions to promote access to financing facilities with interim loans at competitive rates for real estate project developers.

“As well as mortgage loans, at low interest rates and a reduction of the transfer tax for purchasers of new homes from 3% to 2%, for a period of one year,” they suggest.

“In order to diversify purchases and contracts, it was proposed to evaluate the possibility of conducting open public tenders of a national and international nature by the State, with the intention of opening the gap for the purchase of certain construction products necessary for the development of public sector projects.”.

The proposals were suggested by the Dominican Association of Housing Builders and Promoters (ACOPROVI), the Association of Housing Promoters and Builders of Cibao (APROCOVICI), and the Dominican Chamber of Construction (CADOCON), who asked the government to take them into account in order to preserve the right of more Dominicans to access decent housing.

Do you know what NAR is?

Empowering REALTORS® to preserve, protect, and promote the right to homeownership for all is what the organization defines as its mission. Its vision is to "be a trusted partner, guiding our members and those they serve through the ever-evolving real estate landscape.".

The National Association of REALTORS® (NAR) is America's largest trade organization, with 1.5 million members, including institutes, societies, and councils, involved in all aspects of the residential and commercial real estate industries.

 Its membership comprises residential and commercial brokers, salespeople, property managers, appraisers, advisors, and other individuals involved in the real estate industry. Members belong to one or more of approximately 1,200 local associations/boards and 54 state and territorial associations of REALTORS®.

The NAR was founded as the National Association of Real Estate Exchanges on May 12, 1908 in Chicago, with 120 founding members, 19 boards and a state association, with the objective of "uniting America's real estate men for the purpose of exerting a combined influence on matters affecting real estate interests.".

The term REALTOR® is a registered collective membership mark that identifies a real estate professional who is a member of the National Association of REALTORS® and adheres to its strict Code of Ethics .

"NAR fully embraces perspectives from all walks of life, regardless of race, ethnicity, gender, religion, age, sexual orientation, gender identity, disability, national origin, socioeconomic status, political affiliation, or any other quality by which we may define ourselves," states its diversity and inclusion policy.

It states that its Code of Ethics ensures that consumers are served by requiring REALTORS® to cooperate with each other to promote the best interests of customers.

Empowering REALTORS® to preserve, protect, and promote the right to homeownership for all is what the organization defines as its mission. Its vision is to be "a trusted partner, guiding our members and those they serve through the ever-evolving real estate landscape.".

Ethics Code Training

The NAR requires REALTORS® to complete ethics training of no less than 2 hours and 30 minutes of instruction time. The training must meet the specific learning objectives and criteria established by the Association. 

Training can be completed through NAR's online courses or by another method, such as online or in-person courses through local/state associations.

NAR and its affiliated institutes, societies, and councils offer a wide selection of real estate training options. Each course is designed for on-the-go real estate professionals and provides real-world education with top instructors.

AEI member of the NAR

In the Dominican Republic, the Association of Real Estate Agencies and Companies (AEI) is an active member of the NAR.

Source: Official Website

Read this book to develop extraordinary habits 

Real estate agents follow work routines that can negatively impact their quality of life, as they live under constant stress. Therefore, it's essential to adopt healthy habits that strengthen their well-being.


This week's recommendation is the book "Atomic Habits: Small Changes, Extraordinary Results" by James Clear. 


"We often think that to change our lives we have to think about making big transformations. Nothing could be further from the truth," explains the description of this book.

The image has an empty ALT attribute; its filename is LIBRO-HABITOS-ATOMICOS-1.jpg


 According to renowned habit expert James Clear, "real change comes from the result of hundreds of small decisions: doing two push-ups a day, getting up five minutes earlier, or making a short phone call.".


Clear calls these decisions "atomic habits," as small as a particle, but as powerful as a tsunami. 


This groundbreaking document reveals exactly how those tiny changes can grow to transform our careers, relationships, and every aspect of our lives.

Crypto mortgages are born, the tool that promises to revolutionize the real estate market

Takenfrom Forbes Central America

Borrowers are obtaining bitcoin-backed loans to buy real estate, combining the relatively new asset with one of the most established ways to build wealth in the United States. 

The company Milo claims that its 30-year, low-interest US crypto mortgage will allow potential borrowers to pledge their bitcoin to purchase a property and qualify to finance 100% of the purchase without the need for initial dollar payments. 

The loans were granted in an early access stage and the product is expected to be available to most applicants this 2022.

“I think this product is a real game-changer for many, many people. It fulfills many aspects of what this consumer wants, which is to continue holding their bitcoin and be able to diversify and buy real estate, another fantastic wealth-building asset,” Milo CEO Josip Rupena told Insider in an interview. 

The crypto lending industry is taking shape, as the cryptocurrency market had a remarkable year in 2021 when it briefly surged past a $3 trillion valuation for the first time. Cryptocurrency-backed loans are secured loans that use Bitcoin and other digital assets as collateral. 

Milo said his crypto mortgage already has a “large” waiting list, highlighting the appetite among crypto investors to extend their wealth-building activities into housing, as well as their reluctance to set aside their bitcoin to fund such purchases.

It can be “very difficult for [cryptocurrency holders] to qualify for a mortgage because the existing framework with banks and other lenders doesn’t consider that crypto wealth. What that means is that they have to look for alternative ways to buy property,” Rupena said. “Once they sell their bitcoin or crypto, that creates unintended consequences of having to realize capital gains and tax implications,” she said.

“And at the same time, their biggest concern is the opportunity cost of holding Bitcoin and digital assets. We’ve seen that over time it increases and appreciates, and it has been appreciating,” he said. “It’s different for someone who owns cryptocurrencies than for someone who lives in the conventional dollarized world. They really don’t want to sell their cryptocurrencies.”.

If the purchase price of a property is $500,000, a potential Milo borrower would have to pledge, through an external custodian, at least $500,000. Rupena said he will back the borrower, analyze various data points, and perform due diligence on the property, title, and all other aspects of a pending transaction.

“This bitcoin will allow us to feel comfortable with the consumer in granting them this loan. At the same time, they will continue to own the bitcoin throughout the transaction,” said Rupena. Milo aims to expand the product to allow borrowers to pledge other cryptocurrencies. Mortgage borrowers can make monthly payments using cryptocurrency or fiat currency.

Like other crypto loans, Milo's crypto mortgage has a margin call component.

“If cryptocurrencies drop by a certain amount… they could be subject to that. But they have the opportunity to commit more to mitigating those factors,” said Rupena, who added that the transactions are structured to minimize the impact of price volatility.

A licensed lender

Milo started in 2018 and is familiar with dealing with specialized clients, as it has focused significantly on clients living outside the U.S. Rupena said the idea for a U.S. crypto mortgage began because international clients who owned digital assets were requesting such a product.

He further stated that credit checks are part of the loan process for domestic borrowers in the U.S. "For international clients, [since] they don't have credit, we've found alternative ways to underwrite without credit... and then it's just one more data point for us.".

Milo's other mortgage products for foreign nationals have generated millions of dollars in loans, with applicants from at least 63 countries, he added. The cryptocurrency mortgage market could be worth tens of billions of dollars, Rupena estimated.

“We know there are billions of dollars of outstanding loans backed by cryptocurrencies, given the number of buyers. So we believe it’s a multi-billion dollar opportunity, if not more, and it could be even bigger given the size of real estate as an asset,” he said.

Published by Forbes Argentina

The Central Bank leaves its interest rate at 5.50%

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Price dynamics continue to be affected by more persistent external shocks than anticipated, associated with the significant increase in oil prices and other raw materials important to local production, as well as high international container transport costs and other disruptions in supply chains.

SANTO DOMINGO- The Central Bank of the Dominican Republic (BCRD) announced that it has decided to maintain its monetary policy interest rate at 5.50% per year.

This decision, according to a statement from the organization, is based on a comprehensive assessment of the recent performance of the global economy, which has been influenced by increased international uncertainty stemming from recent geopolitical conflicts and the global cost shock.

Price dynamics continue to be affected by more persistent external shocks than anticipated, associated with the significant increase in oil prices and other raw materials important to local production, as well as high international container transport costs and other disruptions in supply chains.

The report notes that the monthly variation of the consumer price index (CPI) in March 2022 was 0.67%; while the year-on-year inflation, that is, in the last 12 months, stood at 9.05%.

In this regard, the BCRD's forecasting system indicates that, in an active monetary policy scenario, inflation would gradually converge to the target range of 4% ± 1% during the monetary policy horizon, but at a slower pace than anticipated, the institutional statement specifies.

He adds that in addition to monetary normalization policies, the fiscal measures being implemented to mitigate the increase in commodity prices and the stability observed in the foreign exchange market are elements that would facilitate the convergence of inflation to the target.

Measures

The statement establishes that since the end of 2021 the Central Bank has been implementing measures to counteract external shocks on prices and contribute to the convergence of inflation to the target range, in a context of economic dynamism.

In this regard, it says, the organization has increased its monetary policy rate by 250 basis points since November 2021, to its current level of 5.50% per year, in line with the cycle of increases in interest rates internationally.

In addition, the Central Bank of the Dominican Republic (BCRD) has significantly reduced the excess liquidity in the financial system through open market operations and the gradual return of resources that had been granted during the pandemic.

Growth

The Central Bank of the Dominican Republic (BCRD) highlights that the domestic economy has maintained its strong performance this year, registering a 6.4% growth in the Monthly Index of Economic Activity (IMAE) in March, which, together with the 6.3% expansion in January and the 5.8% expansion in February, accumulates a growth of 6.1% during the first quarter of 2022.

Source: Listín Diario

Tips to reduce leaks in bathrooms

¿Why do leaks happen in bathrooms?

Leaks in bathrooms occur if the pipes are not properly fitted, or because the appropriate material between the pipes and their connectors has not been correctly insulated, or when these connectors are not the correct size, allowing leakage between them.

Proper installation of pipes in bathrooms, as well as fixtures such as floor and wall tiles, will prevent leaks that could damage areas adjacent to the bathroom.

Which area is most affected?

Leaks can cause dampness on the interior or exterior walls of rooms adjacent to the bathroom. They usually occur below the point of the leak in the pipe or connection, since water flows downwards due to gravity and never rises upwards. 

Water can also accumulate between the blocks that make up the walls and become evident when the damage is already considerable and it tries to escape through the walls that contain it. 

If the bathroom with a leak is located on a second floor, it will also show up on the ceiling of the ground floor, and sometimes the water will run through the blocks that make up the slab, coming out of places like the ceiling lights, a very alarming but frequent condition, if it is not repaired in time. 

Waterproof floors

When installing bathroom flooring, it's essential to ensure the tiles are properly seated on the subfloor and sealed with an appropriate sealant. Moisture from the shower or the floor in general can seep through any gaps between the tiles, and this should be checked regularly. Sealing these gaps with readily available, inexpensive sealant from any hardware store is a practical and economical option.

Other places where leaks are possible are often the drains located in the floors, when these become obstructed at some point in the discharge pipe. 

In the case of new construction, it is advisable to seal these access points very well temporarily while working with mortar or adhesive, to prevent debris from falling into future drains and clogging them.

Pay attention to the tiles or paving stones

Bathroom flooring should be non-slip for safety reasons. There are different styles and models available, but it's always best to use the correct sizes for the bathroom's dimensions. This way, you can use the entire tile without having to make cuts, as irregular or imprecise cuts can lead to leaks between the joints.

Remove mold stains and damage to walls promptly

When removing mold stains or peeling paint on walls adjacent to the bathroom, first we must identify where the problem originates, repair it, and after a reasonable amount of time check that the leak is gone and that it is completely dry.

Regarding the damaged walls, first remove the necessary layers of paint and then, using the appropriate material, repair the mold stains on walls and ceilings, as well as the joints between wall and floor tiles.

Improves air quality in the bathroom

One of the causes of condensation on bathroom ceilings, which leads to stains or paint peeling, is poor ventilation. When bathroom windows cannot be enlarged or natural ventilation improved in any other way, an exhaust fan must be installed to improve it.

Taken from the Homify blog

Collado signs agreements with tour operators in Canada to attract more tourists

During his visit this week to Toronto, Canada, the Minister of Tourism, David Collado, signed agreements with the main tour operators of that nation, as part of the strategy of the portfolio and the Tourism Cabinet.

The agreements were signed with Air Canada Vacations, WestJet Vacations and Sunwing Travel Group, responsible for sending more than one million Canadian tourists to the Dominican Republic each year.

Collado also held a meeting in Toronto, in which more than 200 travel agencies and tour operators participated to strengthen the country's image and promote its destinations.

Last year, the minister also carried out similar activities in the United States and Spain. “We are ready to welcome you and for you to enjoy a magical and safe destination,” Collado stated during the event.

David Collado, during his visit to Toronto. (External source).

The Dominican Republic continues to be the number one country in the world in tourism recovery, and in the coming days, the World Tourism Organization will present an award to President Luis Abinader and Minister David Collado for this outstanding achievement, according to a press release from the Ministry.

60,000 foreign losses

The strategy to recover the Canadian market was strengthened by the loss of 60,000 foreigners due to the war between Russia and Ukraine, countries that sent a large number of tourists to the country monthly.

Weekly news: Third victim dies in Canal Del Sol building fire

Third victim dies in Canal Del Sol fire; firefighters reveal cause; customers increasingly opt for instant payment; 20 hotel rooms occupied by Ukrainians remain in the Dominican Republic; armed individuals enter building parking lot in Mirador Norte, threaten security guard and dismantle vehicles; proposal to reduce fares for Dominicans using JetBlue; kerosene and Avtur prices increase again; other fuels maintain their prices; flights will be suspended at Gregorio Luperón Airport due to runway work; six provinces under alert for a trough over the weekend; Russia-Ukraine war boosts arms industry; expert believes there will be no peace; Colombia will help the country with police reform and national security.

Third victim dies in Canal Del Sol fire; Firefighters reveal cause of blaze

Kelvin Castillo, 22, one of those injured in the fire that occurred last Tuesday at Canal Del Sol in the Dominican capital, died last night at the Ney Arias Lora traumatology hospital. The National District Fire Department also revealed that the cause of the fire that affected Canal Del Sol last Tuesday, leaving three dead and four injured, was a "deflagration due to gas accumulation.".

Customers are increasingly opting for instant payment

Customers of the Dominican financial system have access to the Central Bank of the Dominican Republic's (BCRD) instant payment service, where they can transfer funds and make loan and credit card payments with a maximum processing time of eight minutes. The BCRD explains in a publication that since its launch in November 2014 through March 2022, 29.7 million transactions have been processed, totaling RD$6.1 trillion and US$19.4 million. 

There are 20 hotel rooms occupied by Ukrainians in the Dominican Republic

Of the 3,000 Ukrainians in the humanitarian program to provide assistance and hospitality to tourists stranded in the country due to the armed conflict between Russia and Ukraine, 20 rooms remain occupied in a hotel in Puerto Plata, according to the National Association of Hotels and Tourism of the Dominican Republic (Asonahores).

Armed individuals enter parking lot of building in Mirador Norte, threaten security guard and dismantle vehicles

Two armed men violated the security of a residential building located on Camila Henríquez Ureña street in the Mirador Norte sector of the capital during the early hours of Friday, to steal several parts from vehicles parked in the parking lot of the structure.

They propose reducing fares for Dominicans who use JetBlue

The Dominican Institute of Civil Aviation (IDAC) and the Civil Aviation Board (JAC) met with executives from the North American airline JetBlue, with the aim of finding ways to reduce the cost of airfares for flights between the United States and the Dominican Republic.

Kerosene and aviation fuel prices increase again; other fuels maintain their prices

The Ministry of Industry and Commerce reported that it kept fuel prices frozen, with the exception of aviation fuel and kerosene, which increased between RD$0.49 and RD$1.20 per gallon. For the week of April 30 to May 6, Premium gasoline remained unchanged at RD$293.60 per gallon, as did regular gasoline at RD$274.50 per gallon.

Flights will be suspended at Gregorio Luperón Airport due to runway work

At a cost of 260 million pesos, Aeropuertos Dominicanos XXI (Aerodom) announced the renovation of the runway at Gregorio Luperón International Airport in Puerto Plata, which will involve the interruption of air traffic for ten days at that airport terminal. The company, which operates the country's six main airports, explained that the repair of runway 08-26 will involve a complete reconstruction process with the aim of improving the capacity and landing conditions for aircraft pilots.   

The number of provinces on alert for a trough over the weekend rises to six

The Emergency Operations Center (COE) raised to six the number of provinces under green alert for possible urban and flash floods, due to the presence of a trough that will generate downpours with thunderstorms and gusts of wind, especially in the afternoon and evening hours of this Saturday.

Russia-Ukraine war boosts arms industry; expert believes there will be no peace

The war in Europe, between Russia and Ukraine, could have been avoided, but there will be no peace because this armed conflict is boosting the arms industry, said international politics expert Ivan Gaton on Friday.

Colombia will help the country with police reform and national security

Under the radiant sun and in front of the steps of the National Palace, President Luis Abinader formally received his Colombian counterpart, Iván Duque, yesterday. Duque was on an official visit to the country to "strengthen the bonds of friendship, cooperation, and economic development" between the two nations through six agreements. The South American leader said that the Dominican Republic would have the "unrestricted" support of the Colombian government to strengthen police reform and other advances in investment and trade.

Sources: Diario Libre, Listín Diario, El Día

There are exceptions, but most condominium owners suffer the problems caused by leaks

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"I often joke with trusted friends about this issue: 'The engineers skipped that class, most of them.' These days it's almost impossible to find a project free of leaks; we're doing something wrong.".

SANTO DOMINGO.- There are a few exceptions, in the face of an almost collective complaint of narratives and stories about situations and cases of people who have lived through the turbulence caused by leaks in homes and buildings where they have had to live.

The digital newspaper El Inmobiliario yesterday consulted via WhatsApp and by phone, various people inquiring about the prevalence of cases in sectors of Greater Santo Domingo and San Cristóbal, and their types of leaks.

“It’s good that you asked that. I often joke with my close friends about this issue: ‘The engineers skipped that class, most of them.’ These days it’s almost impossible to find a project free of leaks; we’re doing something wrong,” a real estate agent replied.

But Martínez lives in the Ensanche Julieta neighborhood, and after a traumatic experience with a leak affecting his neighbor's kitchen, he decided to fix the problem, even though he was convinced the leak wasn't coming from his own apartment. However, he agreed to help out of compassion and understanding for his neighbor. "In the end, after we tore everything apart in my house, it turned out the problem was coming from the third floor, not my apartment.".

He recounts that the leaks are a complex chapter within the coexistence, because after assuming all the expenses and experiencing the process of breaking down his walls, even though it did not originate from his house, he had to bear the costs incurred at work and the trauma of destroying walls, when in reality it should have been his neighbor on the third floor.

"Ceilings, common stairwell, windows, rooftop, walls," was the response obtained through the inquiry made by El Inmobiliario. Many responded that they didn't have leaks in their homes, but they did in the building.

“Yes, I’ve had several. Both from the upstairs neighbor, in the laundry area and bathrooms, and in my case, from my bathrooms and toilets to the downstairs neighbor. When the problem has come from my apartment, I’ve had to cover the expenses, since the management and the construction company wash their hands of it,” stated one of the people consulted.

The reports come from sectors such as Bella Vista, Cacicazgos, Paraiso, Bayona in Santo Domingo Oeste, Mirador Norte, Jardines del Sur, El Millón, Esperilla and San Cristóbal.

"These leaks are frustrating. I don't understand why all buildings, even those with so much modernity, end up with leaks, and that's awful because it doesn't matter if they're old or new, leaks always happen. I have one that I manage right now with a big problem of that kind," says Alenny Garabito.

She says she doesn't understand why the engineers only offer a one-year warranty because that's too short. "It's sad because people get desperate. In the building where I have the problem, a woman already told me she wants to sell it because it's awful. It's a problem in all the buildings.".

Commercial buildings

Buildings that are older structures are the ones that present the greatest difficulty with the issue of leaks, says Indhira Desangles, a specialist in commercial and corporate real estate.

He explains that in the case of new constructions, there are no leaks.

It clarifies that it is the owner's responsibility to repair the areas and ensure they are free of leaks, and advises real estate agents involved in renting or selling a property in these circumstances to follow up on the process until they are sure the property is delivered repaired.

.

Reyna Echenique's tips

1-Demarcation

Land surveying is the procedure for obtaining legal title to a property. It's done so that an owner can obtain their Title Certificate and separate their property from the rest of the original parcel.

But what happens when the property hasn't been surveyed and I want to buy it? I advise you NOT to buy it until this process is complete. Why? Because it frees you from multiple risks. Although there are legal mechanisms and processes that allow you to complete the survey at the same time as the property transfer if you're buying without financing, my recommendation is to wait until it's surveyed.

Surveyed properties offer advantages such as mortgage guarantees, investment security, increased property value, and above all, peace of mind.

2-Property Transfer

Before transferring a property to your name, it must first go through the Dominican Republic's Internal Revenue Service (DGII) and you must pay the corresponding real estate transfer tax, which is 3% of the higher of the sale price and the property's value in the national tax system (DGII). Even if the property is exempt from this tax, it must still go through the DGII and you must obtain the exemption certificate.

This procedure is very important in the buying and selling process, because until the taxes are paid, the property remains registered in the national tax system to the person who sold it to you. Next… Now we're going to register the property with the Registry of Titles, register the sale, and let everyone know that you are the owner of the property… this validates your ownership rights.

In the Dominican Republic, the registration system is the "Torrens System." What does that mean? It means that the right of ownership is created and validated when it is registered. After this, within 45 business days, as per the General Regulations for Title Registries, your property will be legally yours.

Note: This timeframe varies depending on the date of the promise of sale issued by the Title Registry when the service is provided. This is extremely important information to know so you're not caught off guard.
 

3- Your house and the DEA formula

If you haven't found the perfect house yet, don't worry, start with this formula that summarizes the most important steps to achieve it.

Define the type of housing you want

Evaluate the amount of money you need

Analyze the spaces you need and the ideal location


Buying a property requires a well-reasoned decision. Always try to have the best experience during the search. You have digital tools at your disposal that can help you make better decisions to acquire the perfect home and make your dream a reality.

Theauthor is:
@reynaechenique

Real estate advisor , lawyer, specializing in real estate law.

Friday's news: He graduates as an engineer at 87 years old

Air traffic will be closed at Puerto Plata airport for 10 days; it's never too late! At 87 years old, he fulfills his dream and graduates as an engineer; Shanghai's lockdown could cause a rise in oil prices; the IDB inaugurates a new office in the Dominican Republic with the highest environmental certification; JetBlue cites its commitment to the country and announces new hires; the CNE deems the installation of solar panels feasible; MSMEs received RD$9.42 billion in credit; Abinader delivers 315 property titles in Los Mina; due to a lack of seats, students take classes on the floor; a plan to clean the dog track is being finalized.

Air traffic will be suspended at Puerto Plata airport for 10 days

Aeropuertos Dominicanos Siglo 21 (Aerodom) announced that air traffic will be suspended for 10 days at Gregorio Luperón International Airport (AIGL) in Puerto Plata due to renovations on runway 08-26. The work is scheduled to take place from Monday, May 9th to Friday, May 20th, during which time only helicopters will be permitted to operate.

It's never too late! At 87 years old, he fulfills his dream and graduates as an engineer

It's never too late to fulfill your dreams, as 87-year-old Rafael Augusto Montes de Oca proved yesterday when he graduated as an agronomist from the Autonomous University of Santo Domingo. Rafael Augusto faced many difficulties throughout his life that prevented him from reaching this long-awaited goal, but his perseverance prevailed, and he finally obtained his degree. This graduation ceremony was very important for Rafael Augusto because it allowed him to close this chapter of his life and become an example for his children and grandchildren, as well as for the university itself, since it certifies the graduation of a new professional who was qualified and had been practicing even without the official authorization to do so.

Shanghai lockdown could cause oil prices to rise

The lockdown of the Port of Shanghai, linked to the conflict between Ukraine and Russia, could put upward pressure on oil prices because demand may increase from China. The Port of Shanghai, the world's largest, suffered a major disruption, cutting consumption by one million barrels per day, a situation that has shaken Europe.

IDB opens new office in the Dominican Republic with the highest environmental certification

The president of the Inter-American Development Bank (IDB), Mauricio Claver-Carone, inaugurated the institution's new representative office in the Dominican Republicat an event attended by the country's vice president, Raquel Peña, and first lady, Raquel Arbaje. The building, considered by the National Directorate of Monumental Heritage to be of historical value, boasts the highest standards of the international LEED Platinum certification, which recognizes leadership in energy efficiency and environmental design.

JetBlue cites commitment to the country and announces new hires

JetBlue Airlines reaffirmed its commitment to the Dominican Republic, where it is preparing a series of surprises to celebrate 15 years of operations in the country, which it entered as its first international destination from the United States.

CNE sees installing panels as feasible

The technical team of the National Energy Commission (CNE) deemed feasible the plan to massively install solar panels on rooftops presented by the Rocky Mountain Institute, the Institute of Lawyers for Environmental Protection, and the National Committee for the Fight Against Climate Change. At a press conference held at the CNE with the participation of 16 of the agency's technicians, Maximiliano Lainfiesta, an energy expert from the Rocky Mountain Institute, presented the plan.

MSMEs received RD$9.42 billion in credit

Banco Ademi presented the management results for the fiscal period January-December 2021, highlighting the support for micro, small and medium-sized enterprises with a total amount of loans amounting to RD$9,420 million.

Abinader delivers 315 property titles in Los Mina

President Luis Abinader delivered 315 property titles yesterday, Thursday, in the Los Mina sector of Santo Domingo Este, Santo Domingo province. Last February, the president granted 380 titles, and with today's 315, the total reaches 695, according to a press release.

Due to a lack of seats, students are taking classes on the floor

Overcrowding in the school system, a lack of records for grades and attendance, and a shortage of teachers and support staff continue to disrupt the normal flow of classes in public schools. School districts receive daily complaints about the large number of students in classrooms, which led to the division of classes into groups that attend on different days since the beginning of the school year, due to the lack of space to accommodate all students together.

They are finalizing a plan to clean up the dog track.

Authorities are putting the finishing touches on a project aimed at resolving the problems caused by vehicle impoundment at the El Coco Canódromo in the capital, which is under the control of the General Directorate of Traffic Safety and Land Transportation (Digesett). Yesterday, the Minister of the Interior and Police, Jesús Vásquez Martínez, and the Ombudsman, Pablo Ulloa, met to discuss the matter.

Sources: Listín Diario, Hoy, El Día, Diario Libre

ABA recommends that users take preventative measures when using the Internet and social media

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SANTO DOMINGO – The Dominican Republic's Multiple Banking Association (ABA) called on users and the general public to maintain healthy habits when browsing the Internet and using digital tools, as a way to prevent them from becoming victims of cybercrime.

In a press release, the ABA highlighted that, in recent years and especially due to the pandemic, the number of users with internet access has increased significantly, as has the potential risk through this platform.

The union detailed that, according to statistics from the Dominican Institute of Telecommunications (INDOTEL), at the end of 2021 there were 9,466,815 users, showing a growth of 8% (701,547 new users) compared to December 2020, when there were 8,765,268 accounts.

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The ABA explained that since last year it has been carrying out a continuous guidance initiative, through the website yonavegoseguro.com.do, to raise awareness about cybersecurity and offer useful information to those who use technological and digital resources.

Taking this initiative as a reference, the association called on users to be vigilant against different methods used by cybercriminals to carry out scams, identity theft, and information theft, among other practices.

The ABA pointed out that one of these methods is "phishing," a social engineering technique that uses fake emails to steal private information, extort money, or infect computers or mobile phones with viruses. Therefore, it recommended always verifying that the sender is who they claim to be and not an imposter.

The association reminded financial users that banks have various channels available to clarify doubts or report problems related to cybersecurity regarding the services they offer.

Finally, the entity reiterated the commitment of its members to support users of multiple banking services in the proper management of their digital habits and to offer them quality services, while protecting their banking information, thus guaranteeing an increasingly secure digital banking system.

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The torment of leaks in buildings

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It is a collective evil that exposes indistinct realities, some based on so-called construction defects, which robs the condominium owners and those who suffer from it of their peace; there is no social class that escapes a plague that gives no respite, they abound everywhere and are revealed at any moment, annihilating the charm of the most celebrated acquirer.

SANTO DOMINGO- Have you ever had a neighbor call you at an inconvenient hour to notify you that their house is leaking water and ask you to check if it's your apartment causing the problem? Or have you experienced the scene of your ceiling suddenly leaking copious amounts of water seemingly out of nowhere? Do you have bulging walls? Or is your problem caused by that darn water heater?

The list of problems caused by leaks in homes could be endless, and it's a constant source of headaches and neighborhood conflicts. The consequences are countless; it's a torment that affects a large proportion of the country, especially those living in multi-family apartments.

It is a collective evil that exposes indistinct realities, some based on so-called construction defects, which robs the condominium owners and those who suffer from it of their peace; there is no social class that escapes a plague that gives no respite, they abound everywhere and are revealed at any moment, annihilating the charm of the most celebrated acquirer.

It affects all social classes, especially during rainy periods, exposing the building's interior and giving rise to the saying "it rains inside and pours outside," referring to the amount of water that can cascade down walls, roofs, windows, and other parts of the house. In any building, no matter how high-end, you might encounter the "surprise" of a spring.

Nor is it exclusive to residential buildings. The media portrays numerous complaints about expensive buildings, especially public ones, that fall apart shortly after construction due to construction defects that cause leaks in their walls and roofs.

One of the most frequent disagreements arises from the question of who should bear the costs: the neighbor from whose apartment the leak originates or the one on the ground floor. In many cases, the problem worsens due to the disagreement between the two parties, who drag out the issue while the water leak continues unabated.

El Inmobiliario, the first newspaper specializing in the real estate sector in the country, will carry out a series of works, seeking to answer some of the many questions surrounding the issue of leaks in the buildings of Santo Domingo.

The guarantee that the construction company must assume in the face of the problem is a matter of controversy; the damage it causes to the infrastructure is another of the complexities to take into account.

What types of leaks are most common and how do they occur?; How can I take legal action if my neighbor refuses to fix their bathroom, which is causing damage to mine?; What equipment is used to detect water leaks?; Is the building manager responsible for overseeing leak repairs?; Do construction companies take the necessary precautions to prevent this problem?.

And who will stop the price increases?

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Historically, the Dominican Republic has been a country with a market where speculation often dictates the prices of its products, and where with just a little breeze, businesses react to storms and increase prices lightly and without justification.

The National Institute for the Protection of Consumer Rights (PRO CONSUMIDOR) is the state agency responsible for establishing and regulating the policies, standards, and procedures necessary for the effective protection of consumer rights in the country.

But the "attempts" of that organization always fall short and, with few exceptions, its actions amount to nothing more than public relations, while the avalanche of ruthless commerce continues its course, accustomed to acting without limits or regulations and where the culture of winning at the expense of a silent people, who have lost all capacity for wonder, is fostered.

It is certainly true that construction material prices have risen due to various factors. COVID-19 disrupted the world order, generating an unexpected crisis for which no country was prepared. A catastrophe of that magnitude could not go unnoticed. We all prepared for the foreseeable consequences that a general lockdown would unleash.

The mandatory halt of cargo transport from China, the country where the first case of the virus originated, and the increase in freight costs; among obvious reasons, began to produce an upward escalation in products at a general level, and of which the construction sector has remained at the front line.

All the materials needed to construct a building have risen to alarming levels. An endless string of price increases is recorded every week, and amidst press releases, complaints, and pronouncements, the government has remained silent on the situation, which threatens to jeopardize the homes of many Dominican families.

The war between Russia and Ukraine has provided the perfect opportunity for price increases to continue their unchecked course. Steel, which might be somewhat justifiable given that some of it comes from Ukraine, is selling for 83,000 pesos per bundle. Construction workers consulted by this newspaper stated that just a year ago it cost 55,000 pesos and that during the height of the pandemic, the price rose without any justification.

Cement, the main material involved in the construction process, continues its upward climb and its price is expected to increase again by between 15 and 20%, if it hasn't already by this point in the week.

Each sector will look for reasons for its price increases, some justified, others exaggerated and even abusive; and all will appeal to their own interests because no one will want to put their capital and profits at risk; besides, speculators are having a field day and have to take advantage of misfortunes to profit because that is their specialty.

As always, the one who will bear the heaviest burden is the homeowner, the one who has postponed plans and added extra hours to extend his income and ensure a roof for his family and his old age, and who will have to undo his dream of achieving his own home.

The associations representing the construction sector issued a statement last Tuesday, submitting a series of proposals to the government to mitigate the effects of the imminent rise in housing prices.

The government must react immediately and seek alternatives to curb the significant price increases in construction materials that occur week after week and which will undoubtedly affect the dynamism and growth of the sector during 2022 and, of course, jeopardize many Dominican families whose plans to buy a home—a basic good and a right that belongs to every human being—will be thwarted.

It is pointless to have created a Ministry of Housing and announced with great fanfare housing programs to counteract the housing deficit in the country, if the current festival of increases continues, where one increase drags down several, and in a country with a commerce acting freely and without control.