The Builders and Housing Promoters Association (Acoprovi) says there is potential demand for 908,428 housing units and called for improved market conditions for developers and buyers. The study was carried out from October-November 2012 with a sample of 2,730 households of a universe of 1.3 million in Cibao, Santo Domingo, Santiago and southern and eastern regions. It reveals that 55% of potential buyers cannot afford housing. The greater demand is Santo Domingo (58%) and Cibao (30%), as reported in Listin Diario.
On the downside, construction was down in 2012, reflected by the 6% decline in sales of cement bags. Osvaldo Oller, president of the board of directors of the Dominican Association of Portland Cement Producers (Adocem) said that since 2007, local cement sales have fallen by 30%. He said, nevertheless, that exports were up by 36% in 2012 compared to 2011, as reported in Listin Diario.
An editorial in Hoy newspaper says that low wage levels are a major deterrent, as this is why workers do not qualify for banking loans. It goes on to say that some RD$496 billion would need to be invested in the next three years to build 470,000 units to meet half the demand. The survey shows that the government needs to implement policies that improve employees’ access to credit for purchasing their own homes, as the banks have the money to lend, concludes the columnist.
www.hoy.com.do/economia/2013/4/11/475369/Bajos-ingresos-desmotivan-a-la-poblacion-a-tener-casa-propia