Costa Rica: $176.9 Million for Housing

Banco de Costa Rica (BCR) has earmarked $176.9 million (¢100,000 million) in loans for housing in 2009.

Friday, February 27, 2009

The reporter, Mercedes Agüero, wrote in Nacion.com: "This amount will allow 6,000 families to build or buy a home. The interest rate for these loans is the equivalent of the base rate plus 3 points."

More on this topic

Costa Rica: Banks restrict housing credit

August 2008

Because of fluctuations in the exchange and interest rates there is more reluctance to provide financing.

After a period of credit surplus and very attractive financial conditions for borrowers, financial entities are now taking a more conservative position with regard to risk, and, in many cases, reducing the amounts that are financed through bank loans.

BCR lowers interest rates in Costa Rica

February 2009

The Bank of Costa Rica (BCR) lowered interest rates for loans for housing and small and medium businesses by two percentage points.

Nacion.com reports on its website: "The reduction in the interest rates is effective from Sunday February 1.

These measures are a part of the program presented yesterday by the BCR called: "A Hand in Support."

Preferential Mortgages Extended by 5 Years

December 2011

The Panamanian government has extended for another five years preferential mortgage loans previously registered with the Department of Revenue.

A press release from the Ministry of Economy and Finance of Panama reads:

Preferential mortgage loans previously registered with the Department of Revenue of the Ministry of Economy and Finance, are to be extended for five more years, as was established by Act 8 of 2010 and as has been regulated by Executive Decree # 539 of 30 November 2011. The standard applies to loan contracts which are in the first ten years of their term at the date when the regulation becomes effective.

Costa Rica: Credit for Housing Up 10%

May 2016

Competition, interbank interest rates and a stable exchange rate are the reasons for the growth of the housing loan portfolio in the first quarter of 2016.

An article on Elfinancierocr.com reports that "... Housing credit has been growing at safe rate since the start of 2016 and this market is expected to remain this way for the rest of the year ...

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Alvarado Palacios y Asociados - Abogados

Organization that operates in Panama.
Phone: (507) 209 5000 - (507) 209 5001

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