Cabinet Approves Housing Act for BES Islands

The Cabinet has approved the Housing Act BES. This legislative proposal aims to facilitate the construction of more affordable social housing on Bonaire, Sint Eustatius, and Saba by providing housing foundations on the islands with better access to financing.

The proposal underwent public internet consultation this past summer and will now be submitted to the Council of State for advice. Parliamentary debate in the House of Representatives and Senate will follow.

Access to Financing

Under the new law, housing foundations can apply for official status as recognized institutions. This brings them under the Housing Corporation Authority’s supervision. As a result, they can participate in the Social Housing Guarantee Fund, which provides loan guarantees and enables financing at lower interest rates.

Ben Oleana, director of Fundashon Cas Bonairiano, has fought for this regulation for years, initially finding support from former State Secretary Knops.

More Housing and Better Livability

Improved access to financing will enable housing foundations to build more social housing, better maintain existing properties, and invest in neighborhood livability. This is urgently needed, as the shortage of affordable housing on the islands is severe, especially for people with low and middle incomes. The proposal thus also contributes to combating poverty.

The Housing Act BES will ultimately be incorporated as a separate chapter in the Housing Act and is specifically tailored to local conditions on Bonaire, Sint Eustatius, and Saba.