The Builders and Housing Promoters Association (Acroprovi) president Fermin Acosta has denied there is a real estate bubble at present in the country. Acosta said that there is a surplus of unsold units in the upper middle class segment. He attributed this to Fiscal Reform Law 253-12, which eliminated the individual exemption up to RD$5 million for real estate and replaced it with a global exemption per person for all property up to RD$6.5 million. Furthermore, he said that the existence of the Rental Law 4314-55 does not encourage people to purchase apartments for rent. The Rental Law is slanted heavily in favor of tenants.
http://faolex.fao.org/docs/pdf/dom135295.pdf