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 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 Chamber of Construction Companies is urging the Government to create a new financing model for home purchases.
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.
The Overseas Private Investment Corporation (OPIC) has announced it will provide the loan to help develop a mortgage program in Guatemala.
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