Santo Domingo.- The Executive Branch on Mon. submitted to the Senate a bill aimed at increasing the reference value of low-cost housing, which would become RD$4.5 million (US$79,000).
The draft submitted by President Luis Abinader seeks to amend articles of the Mortgage Market and Trust Development Law 189-11.
The proposal creates the First-home bonus, with which buyers can purchase through trusts accredited by the National Housing Institute (INVI).
“They (buyers) will have the right to receive a housing bonus equivalent to the value corresponding to the calculation based on the standard cost of materials and services subject to the Tax on the Transfer of Industrialized Goods and Services (Itbis),” the president says in the missive to the Senate.