Economy September 18, 2021 | 11:01 am

Banreservas announces Dominicans living in NY can access facilities to buy homes

New York. The Reserve Bank announced yesterday that Dominicans living in this city could take advantage of the special rates of 5.8% offered by ExpoHogar. That will remain in force until September 30 to acquire a real estate property in the Dominican Republic.

The information was offered by the Deputy Business Administrator of the financial institution, Ysidro García, at a press conference held at the Dominican Consulate. It is noteworthy that Banreservas will open the new representative office in New York City next week, located in the Marriott Marquis hotel, in an act headed by the President of the Republic, Luis Abinader.

“To make the acquisition of your properties a reality, we make available to you annual interest rates from 5.8%, fixed up to 10 years, with terms of up to 20 years to pay, so that no one is left without their home,” Garcia said.

He added that those interested could choose to finance up to 90% of the property’s value, for which they will have the coverage of Seguros Reservas.

Financial Talks

Similarly, Banreservas will give a series of talks on financial education, facilities to access loans to acquire a home in the Dominican Republic, and other services from which Creoles residing in the United States can benefit through the different channels offered by the bank.

In this regard, the consul in New York, Eligio Jáquez, valued the initiative of Banreservas because, for the first time, these facilities and channels of banking services will be available to Dominicans residing here.

The speeches will be given at the Consulate on Friday 17, Monday 20 and Tuesday 21 of this month, from 8:00 in the morning to 4:00 in the afternoon, by Banreservas Robinson Portorreal, Paula González, and Edgar Abreu.

García explained that the economic orientations are intended to strengthen further the ties that the Dominican community residing in this important city of New York and other U.S. localities have with their home country.

4.5 4 votes
Article Rating
12 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments
Matches Malone
September 18, 2021 10:04 pm

Don’t trust them. Sounds like huge balloon payments at the end of term, and huge interest rates increase after 10 years…. ladrones

Myopinio
September 19, 2021 2:54 pm
Reply to  Matches Malone

You don’t need to trust or distrust them. Once you know the terms of the loan then you can decide if its feasible for you. There are bad actors every place on this earth, especially in A…

Anibal otanez
September 19, 2021 10:43 am

This is great but theres a problem i hote presidente abinader learns about . Bankreservas denies most aplications from expats after months of being in the procces .They get us credit reports and qualifications but reject most well qualified borrowers for reasons thatmakes no sense but shows either a scam or that they do not know what they are doing I have proof just reply and I will provide evidence

King
September 19, 2021 3:13 pm
Reply to  Anibal otanez

Did you ever give it thought that maybe they are more interested in using their resources to aid and provide opportunities to their citizens than let’s say others? There are a lot of outsiders buying up the country right now, myself included. Most outsiders don’t have an interest in empowering and bringing opportunities to the local population. There is a lot of money to be made developing a country with an economy that is positioned for near future growth. My business goals include teaching, empowering and creating opportunities for the communities where I am located and I’m not expecting their banks to give me more of an advantage than its locals.

Katerine
September 19, 2021 9:48 pm

Governments in the DR have sold the country to Europeans expats and those that deal with drug trafficking. Most of the financing and purchasing of these fancy towers and villas being built everywhere to the detriment of the local ecosystem are mostly instruments of money laundering. The Dominicans abroad are taken advantage on despite supporting 1/3 of the Dominican GDP through remittances. It is a shame property has increased so out of reach to the locals and most Dominicans living abroad. I only visit family when I go to the capital, which lacks basic planning, infrastructure, traffic control and green spaces. It is a shame how much damaged have incompetent government officials have done to such a beautiful island.
Tourism was the worst industry the DR embraced.

Last edited 1 month ago by Katerine
Max l petit-frere
September 20, 2021 12:05 am

I am a us citizen and live in central florida. Would i be able to acquire property in DR

Eric Sandmael
September 20, 2021 2:26 am

Yes, for sure you can buy a property in the Dominican Republic.
The country has a very secure title system, and you own a property the same way as locals.
Look up http://www.buyincasalinda.com

Ernesto Reyes
September 20, 2021 4:48 am
Reply to  Eric Sandmael

Buenos días.Una persona inmigrante puede adquirir una propiedad en RD por ésta vía?

Ricardo matos
September 20, 2021 5:58 pm
Reply to  Ernesto Reyes

Claro que sí..

Dorka Marisol Galarza
October 17, 2021 12:40 pm

Cómo construir en ENRIQUILLO si soy una taxista de Litf o Uber

Dorka Marisol Galarza
October 17, 2021 12:42 pm

Cómo construir en mi municipio, si soy una taxi driver de nyc por 23 años. Ahora trabajo para lift