Leading S&L to host first home loan fair for Dominicans in New York

New York.- Dominicans living in this city have the opportunity to acquire and finance their homes in the Dominican Republic with all the facilities promised by the First Housing Fair " “Mi Techo en Dominicana New York 2016 (My Roof in Dominicana New York 2016), sponsored by the S & L, Asociacion Cibao de Ahorros y Prestamos (ACAP), the country’s leading S&L.

In the activity, the bank will offer loans at interest rates of 9.75% for one year; 11.0% at two years and 12% at three years.

The event, hosted by the Real Estate Companies Association (AEI) to be held from May 20 to 22, will make available to interested parties over 1,500 completed properties and an equal number of projects in development, located in Santo Domingo, Santiago, San Francisco de Macoris, La Vega, Moca, Mao, Puerto Plata, tourist areas and other parts of the country.

The fair, which contributes to strengthen the ties of Dominicans in New York with their homeland, will be held in the ballroom of Saint Spyridom Greek Orthodox Church (La Iglesia Griega), located at 124 Wadsworth Avenue, New York, NY 10033, between 179th and 180th Streets in Manhattan.

"During these three days we hope to have the support of the Dominican community here, for which we have incredible facilities to acquire a roof in the Dominican Republic," said representatives of the ACAP and the Real Estate Companies Association in a statement.

The schedule of the fair will be from 10:00 am to 10:00 pm, on Friday the 20th and Saturday May 21; and from 3:00 pm to 10:00 pm on Sunday May 22. During the event, all visitors to the fair can apply to win airline tickets in the Dominican Republic.

The fair will be a space for prospective buyers to receive information on any property of interest when purchased on Dominican soil. ACAP, with 53 years in the market, has a wide network of 48 branches in strategic points that give national presence in Dominican territory.

With over 25 years of experience, the Association of Real Estate Companies of the Dominican Republic in its northern section, has contributed to the organization of this event bringing together exhibitors from different centers in the country to showcase in one place, an attractive offer and consolidated property in their home country and easily accessible for Dominicans living in the vicinity of New York.

According to a study on Hispanic trends conducted by Pew Research Center in 2015, the Dominican population in the United States topped 1.8 million people, of which 47% live in New York.

Central Bank data show that for the first quarter this year the country received a stream of rising remittances of US$1.9 billion, or US$89.2 million more than 2015, of which 71.5 % were from the United States and 15% from Spain.

Dominican Republic’s real estate market is currently booming with myriad properties across the Caribbean nation, as evidenced by the specialized website: www.indominicana.com.