The measure will help to further boost the construction sector by generating new jobs, facilitating financing, and reducing the housing deficit.
SANTO DOMINGO.- The recent modification made by the Executive Branch to Law 189-11 on the Development of the Mortgage Market and Trusts in the Dominican Republic will create better conditions so that more and more families in the country can access decent housing.
This is the opinion of the Dominican Association of Housing Builders and Promoters (ACOPROVI), which considers the promulgation that raised the limit of low-cost housing in the country from 3.8 to 4.5 million for first-time home buyers to be timely.
“Clearly this represents another step in the search to provide the necessary tools so that more Dominicans can have access to decent housing,” the entity stated in a press release sent to El Inmobiliario.
It highlights that the measure will help to continue boosting the construction sector by generating new jobs, facilitating financing, and reducing the housing deficit.
The modification of this law will promote, ACOPROVI points out, the development of new projects due to the benefits it represents for buyers of low-cost housing, and it also protects people who had been left out of this classification due to the significant increases in construction materials experienced in the market in recent months.
“From ACOPROVI we state that in order to maintain the economic pace and growth of the housing construction sector, it is vital to make the new single window of the Ministry of Housing, Habitat and Buildings (MIVHED) operational.”.
He also cited the standardization of building permits, with zero bureaucracy and higher levels of competitiveness for the sector, as well as guaranteeing stability in prices and financing rates with access to credit for home buyers and developers.
