The Housing Market in Guatemala

The deficit between supply and demand for housing solutions is growing every year, requiring state policies for the creation of credit systems for low-income sectors.

Tuesday, February 21, 2012

In Guatemala, the demand for housing grows between 55,000 and 60,000 units every year, but only 20,000 new houses are built, calculates the Guatemalan Chamber of Construction (CGC).

In late 2012, the housing deficit will reach 1.7 million units, says the president of the CGC, Jorge Montenegro Pasarelli.

"Currently we have an efficient mechanism for construction and financing for the middle classes and above, but a deficiency in solutions for the segment that has less ability to pay", said the businessman, who added that the phenomenon is a response to the lack of stable policies addressing this sector, and a lack of financial guarantees which would enable the population to have access to credit, reported

More on this topic

The housing deficit in Guatemala

April 2012

In Guatemala, where the housing deficit is 1.5 million units, they only manage to produce between 20,000 and 50,000 homes a year, a situation that is forcing authorities and the private sector to find solutions.

The minister of Communications, Infrastructure and Housing (VIC), Alejandro Sinibaldi, told that at present, the housing deficit in Guatemala is 1.5 million units.

Guatemalan Builders Claim for Housing Subsidies

September 2011

The Chamber of Construction Companies is urging the Government to create a new financing model for home purchases.

Employers propose that the government subsidize up to four interest rate percentage points for the purchase of homes under $38,000 and up to two points for homes between $38,000 and $51,000. Current interest rates fluctuate between 7.5% and 9%.

Housing Construction in Nicaragua

January 2013

The Chamber of Builders and the government are working together to achieve the funding necessary to reach the target of 10,000 new homes every year. reports that "After fulfilling the goal of building 4,000 houses and delivering them in 2012, the goal is to raise the annual figure by a thousand houses.

Guatemala: $100 Million for Mortgage Program

November 2011

The Overseas Private Investment Corporation (OPIC) has announced it will provide the loan to help develop a mortgage program in Guatemala.

The program's objective is to develop a platform with the participation of Guatemala's national banks that will make 2,000 mortgages available to families to buy homes that currently might not be able to.

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