Dominican realtors say housing trusts will spur investment

Santo Domingo.- Dominican Republic’s realtors grouped inthe (AEI) on Tuesday said the housingtrusts have rekindled confidence of Dominicans living abroad to invest in theircountry’s real estate market.

AEI executives said many Dominicans living abroad, especiallyUS and Europe, had lost confidence in buying a home in the country because theylost their lifetime savings to scams or bought into projects that failed.

They said Dominican Republic’s new Trust and Mortgage MarketDevelopment Law restores lost confidence, because legislation providesguarantees to home buyers.

Interviewed by hoy.com.do, AEI president Carmen Rosa Anico accompaniedby executives Raysa Jiminián, Franklin Justo, Benjamin Urbáez and JordiAlbertus said just like many banks have their trust, Dominicans abroad confidein in them. “Those who wish to buy a home have the backing of the project wherethey wish to acquire a property, which will start when conditions are met and therequirements of the law fulfilled.”