Dominican Pension Superintendency proposes housing loans via pension funds

The Dominican Republic's Superintendency of Pensions (Sipen) has proposed a new initiative to utilize workers' pension savings to finance housing through mortgage loans. Presented by Superintendent Francisco A. Torres to the Dominican Association of Builders and Housing Promoters (Acoprovi), the plan aims to provide long-term credit with fixed interest rates and terms ranging from 10 to 25 years.

The proposal seeks to address high conventional mortgage interest rates that currently limit many families' ability to qualify for credit. Key components include the creation of specialized credit funds with risk protection mechanisms and a rent-to-own model, which would allow individuals to occupy a home while building the necessary requirements for eventual purchase.

Acoprovi leadership, including President Annerys Meléndez, has expressed support for the initiative, noting that it aligns with long-standing industry goals to expand credit access and stimulate the real estate market by providing financial predictability for buyers.