Ciudad Juan Bosch, the mega city under construction in eastern Santo Domingo with the backing of the Medina administration, is only affordable for those making upwards of RD$65,000 in income a month. The government says that already 7,000 of the 25,000 dwellings contemplated in the 3.2 million square meter apartment city have been sold. These 7,000 housing units are still under construction.
MetroRD reports that more than 80% of the formally employed people in the Dominican Republic make under RD$25,000 a month. Of those 74.7% make less than RD$15,000 according to data from the Tesorería de la Seguridad Social in November 2017. These are the people that need housing but would not be able to afford a dwelling in Ciudad Juan Bosh.
This means that 80% of those that have a formal job do not qualify for one of the government apartments in Ciudad Juan Bosch, says the Ciudad Alternativa civic group that seeks to reduce the housing deficit. The financing terms call for a 20% down payment, and 80% is financed at an interest rate of 8% a year, fixed for 20 years. The government is contributing the land and paying the ITBIs tax.
Ciudad Alternativa says that the apartments have been selling to Dominicans living abroad because so many locals cannot afford them.
The Medina administration has promoted the project as a solution to the housing deficit. Recently, Minister of the Presidency Gustavo Montalvo announced the construction of two schools and a hospital in Ciudad Juan Bosch and the start of a 911 Emergency System security monitoring.
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MetroRD
27 June 2017
