In December of last year, the Salvadoran Chamber of the Construction Industry (Casalco) announced that they were preparing a law proposal, which contemplated the approval of preferential interest rates on loans for home purchases.

This week, after a meeting between representatives of Casalco and authorities of the Ministry of Public Works (MOP) and the Central Reserve Bank (BCR), the private sector insisted to the authorities on the pending issues of this management.

The guild has developed a proposal called the "Housing Inclusion Law", which consists of banks offering a lower interest rate to the end user or buyer of the home and the differential would be covered by the government, as a subsidy.

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The executive director of Casalco, José Antonio Velásquez, explained to Elsalvador.com that "... Greater attention must be given to the social housing market sector. We haven't seen that in recent years. What we have witnessed is a lot of high-rise construction, which we know is going to continue, but we would like to see social interest housing built and sold.”

Velasquez added that "... Casalco's project proposes incentives to acquire land or properties to build houses and 'that people can have timely financing so that with two or 2.5 minimum wages they can access these credits.”

Source: elsalvador.com

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