The government bank, Banreservas has organized a second Real Estate Fair to back projects in the Dominican Republic and promote their sale to Dominicans who reside in the United States. The real estate promotional event is taking place in New York City and Lawrence, Massachusetts.
The Banreservas is lending to buyers at 10% fixed rate for seven years. This compares to the best rate for mortgages offered by Banreservas in the DR that is at 14% and 15 years. Samuel Pereyra, executive president of the government bank, says the financing is up to 90% of the value of the property and for up to 20 years.
In a press release, the government bank says that the loans are available for a wide portfolio of pre-selected projects. As reported in the press release, more than 80% of the properties covered by the Banreservas loans have trusts ensuring the solidity of the offer.
The fair is taking place at the Banreservas representation office in Washington Heights, New York City from 14 to 16 May, on 500 West 181 Street, New York, NY 10033 and from 17-18 May in Lawrence, Massachusetts at the Parthum School Complex located at 255 East Haverhill Street, in Lawrence, MA 01841.
The Banreservas handles more than 50% of the remittances sent by Dominican expats through formal banking to the Dominican Republic.
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Diario Libre
El Caribe
15 May 2025