2013News

Builders and Promoters say demand is 143,000 houses

The Association of Housing Builders and Promoters (Acoprovi) says that the government needs to speed up the process of the social bonus, since there is a demand for 143,000 housing units, but over 75,000 of the applicants do not qualify for bank financing, so the guidelines need to be modified. The association called for modifying several of the laws and regulations that control the sector, including Law 189-11 on Mortgage and Trust Market Development. They also want the National Housing Institute (INVI) to accept the fact that a low-cost housing unit costs between RD$2.4 million and RD$2.6 million, instead of the RD$2.2 million they now accept. The study quoted by Listin Diario says that over 50% of the people who want houses are seeking one of up to RD$1.5 million