The president of the Association of Promoters and Home Builders of Cibao (Aprocovici), Alexander Fondeurhighlighted this Sunday the relevance of the actions and measures from the financial sector and the Government to favor the access of Dominican families to decent housing and strengthen the construction sector in the face of an uncertain economic context.
According to a press release, it reported that “the year 2023 begins with two relevant events for the construction and housing. On the one hand, the General Directorate of Internal Taxes (DGII) announced the adjustment to the price of housing considered low-cost, going from RD$4.5 million pesos to RD$4,852, 211.2″.
“The increase represents 7.2% and reflects an adjustment motivated by inflation accumulated during the year 2022, which in practice moves the reference price of the home value to facilitate access to government and bank benefits,” stated Fondeur.
He cited that the Monetary Board authorized channeling resources from the legal reserve for loans for the construction and low-cost housing acquisition.
The decision of the Monetary Board was recognized by the financial sector as a measure “of great economic and social impact, given the great benefits it represents for thousands of Dominican families who could materialize their dreams of having their own decent roof.”
The information was disclosed in Resolution Number DDG-AR1-2023-00001 of the General Directorate of Internal Taxes (DGII) and states that this change is an adjustment to comply with Law Number 189-11 on the Development of the Mortgage Market and the Trust in the Dominican Republic of July 16, 2011.
The objective is to define by 2023 the maximum amount of the sale price of homes developed by low-cost housing trusts, so that buyers can opt for the bond, and the value exempt from transfer tax, acquired with mortgage loans .
