Housing Loans Yet to Recover in El Salvador

Credits for home purchase only rose one percentage point between May and July this year (from 3% to 4%).

Wednesday, September 22, 2010

This announcement was made by the Salvadoran Construction Chamber (Casalco). Its report adds that construction loans are still static at 4% of all credit granted by the banking sector.

Ismael Nolasco, Casalco executive director, said that while it is true that there is a slight increase in credits it is too early to say whether the sector is out of the crisis. "In reality there are no symptoms of a genuine recovery - the sector is still in need of monetary injection," Nolasco said, according to Elsalvador.com.

More on this topic

The Role of Credit in the Construction Sector

September 2013

In Panama housing loans total $1.121 billion, infrastructure loans $668.5 million and commercial construction loans $466 million.

Added to these is $841 million for additions and remodeling. The figures were revealed by the Superintendency of Banks in Panama (SBP).

Credit has become the key to growth of the construction industry and property development in the country.

Social Housing Loans Reach $89 million in El Salvador

July 2012

From a press release from the Social Fund for Housing (FSV in Spanish):


The Social Housing Fund (FSV) has presented in open court its Accountability Report which reports on the results obtained by the institution between June 2011 May 2012 in granting loans to families, civil society organizations and government entities.

Salvadoran Banking Loan Less for Construction

January 2012

Financial institutions lent 15% less for building houses in 2011, complained the Chamber of Construction.

The Salvadoran Chamber of Construction Industry (Casalco) reported that the portfolio of loans for housing construction experienced a decrease of 15% in 2011, as banks only granted $113.9 million.

El Salvador: Housing Loans Down 70%

October 2009

Commercial banks loaned $84 million between January and August; in the same period of 2008 they gave credits for $302 million.

Mario Rivera is the President of Casalco, the Salvadoran Construction Chamber. He argues the government's anti-crisis plan does help his sector, but it is not enough.

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