NY Consulate Supports Banreservas Real Estate Fair and Its Impact on the Diaspora

New York: The Dominican Consulate in this city, led by the Honorable Consul Jesús Vásquez Martínez (Chú), took part in the inauguration of the second Real Estate Fair organized by the Banco de Reservas of the Dominican Republic (Banreservas). The fair offers an attractive fixed interest rate of 10% for seven years to facilitate homeownership in the Dominican Republic for Dominicans residing in the United States.

The fair was officially opened from May 14 to 16 by Banreservas’ Executive President, Samuel Pereyra, who announced that up to 90% of a property’s value would be financed, with repayment terms of up to 20 years. The initiative has generated significant interest among the Dominican community in the U.S.

“We were part of the inauguration of the 2nd @BanreservasRD Real Estate Fair in the U.S., reaffirming our commitment to the Dominican community,” posted Consul Vásquez Martínez on the official X (formerly Twitter) account of the Dominican Consulate in New York.

In an interview with El Faro Latino, the Consul emphasized the importance of the event, pointing out that every Dominican living abroad dreams of owning a home in their homeland. “Approximately 2.39 million Dominicans are estimated to reside in the United States, the country with the largest concentration of our diaspora. New York, New Jersey, Florida, Massachusetts, and Pennsylvania are the states with the highest Dominican populations, and each of them dreams of owning a home in the Dominican Republic,” said Vásquez Martínez.

The fair continued on Saturday, May 17 and Sunday, May 18, in Lawrence, Massachusetts. Pereyra explained that Dominicans in the U.S. would have access to a broad and diverse range of real estate projects throughout the country, in collaboration with reputable developers and leading real estate agents.

“During the fair, each client received personalized advice, preferential financing terms, and the confidence of working with the bank of all Dominicans,” Pereyra stated. He added that Banreservas has a dedicated team ready to support clients at every step, from pre-qualification to the disbursement of mortgage loans. In addition, more than 80% of the participating projects are backed by trusts, ensuring greater transparency and trust in each investment.

The event occurred at Banreservas’ Representative Office, located on the 12th floor of the Radio Hotel, 500 West 181st Street, New York, NY 10033. In Lawrence, the venue was the Parthum School Complex, 255 East Haverhill Street, Lawrence, MA 01841.

Referring to the initiative’s broader scope, which was also held this year in Madrid, Spain, Pereyra noted: “What began as a bold step is now a solid and reliable platform for investing in our country from abroad.”

Banreservas’ Executive President highlighted that this is the second real estate fair held in the U.S. and underlined the results since the opening of the Representative Office in New York. “We have served more than 29,000 Dominicans, opened over 13,700 savings accounts, and processed 155 mortgage loan applications totaling 661 million Dominican pesos,” he explained.

By purchasing a home through this fair, participants can open a Banreservas savings account from the U.S., access the bank’s digital channels, and manage payments from anywhere in the world.

“We want every Dominican abroad to know they are not alone, that there is a bank in their country that represents them, speaks their language, understands their aspirations, and turns them into solutions,” Pereyra emphasized.

Press Contact:

Banco de Reservas

Phone: 809-960-2121

Website: www.banreservas.com