Salvadoran Housing Market Revives

FONAVIPO will take over private building projects that have had to be stopped due to lack of funding.

Wednesday, July 13, 2011

More than 2 000 public houses will be developed by the National Fund for Popular Housing in different areas of the country.

They will be built on lots where private developers had begun construction of buildings, and therefore already have building permits and other documents required by regulation.

An article in Elmundo.com.sv notes: "These new projects are in addition to the seven buildings now being built in Santa Ana, Sonsonate, La Paz and San Martín, San Salvador.

The president of FONAVIPO did not disclose details about other projects to be developed in the metropolitan area of San Salvador and Santa Tecla, because they are still in search of land for them.

Fortin announced that the property is valued based on the purchase made by the Ministry of Finance and the estimated value calculated by the Superintendencia del Sistema Financiero.

The government has allocated $86,343,000 for the construction of 6.260 dwellings in the public investment plan this year. "

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More on this topic

El Salvador to Invest $ 100 Million in Housing

January 2011

The National Popular Housing Fund plans to build 6,742 public houses in 2011.

Marco Fortin, president of the institution, referred to the seven projects managed by the government under the Home for All program.

The more advanced projects are those of Nuevo Belen, with 495 houses, which this year will begin title process, and La Bretaña with 1,875 homes.

El Salvador: $ 140 Million for Housing

November 2010

BCIE and IDB funds will finance the "Casa para Todos" (Housing for Everyone) program.

The $ 70 million Inter-American Development Bank loan will go to build 6.373 homes for low-income families, of which 2.000 would be ready by March 2011.

The credit of the Central American Bank for Economic Integration (BCIE), of also $ 70 million, "will be implemented by the National Housing Fund (FONAVIPO), which will bid the affordable housing projects to developers," Elsalvador.com reported.

El Salvador Starts Constructing Social Housing Project

April 2010

The Housing Fund (FONAVIPO) will invest $2.3 million in building 192 apartments for those affected by tropical storm Ida.

The building complex will be located in Apopa. Its mayoralty will conduct the topographic studies and Fonavipo will execute the construction.

Marco Fortín, president of Fonavipo, told newspaper La Prensa Grafica that a similar project, “Belén” urbanization in San Miguel, will be awarded the next Friday, after two months of delays.

El Salvador Invites Bids for Building 390 Homes

October 2009

The National Housing Fund began the bidding process, earmarking $3 million for it.

12 municipalities will be benefited with the project, which is part of the program "Housing for Everyone" (Casa para Todos).

Elsalvador.com reports: "Each house will be built with cinder block walls, fiber cement board roof and lattice windows ...

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