Bet on Housing Construction

In Nicaragua, incentives for financing and construction are driving growth of the real estate supply, especially the development of multifamily complexes.

Friday, November 17, 2017

A recent reform of the special law to promote financing and construction of low-income housing explains the strong momentum that the activity has seen in recent months.

Héctor Lacayo, president of the Chamber of Developers (Cadur), explained to Elnuevodiario.com.ni that "... Starting in 2018 in the capital, at least six new housing projects will be developed, they are classified as multifamily units, in addition to the two that have already started to be sold this year and which are on the outskirts of the city."

"... At the most recent housing fair, 'there were 20 multifamily two-story houses that were on sale in the San Andrés residential complex (in Ciudad Sandino), and there was also a good acceptance of the six-story Villa Fontana project. There is a new project that is being promoted by New Century, it has four floors and will be in the vicinity of Managua."

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More on this topic

$10 million In Deals at Real Estate Fair

February 2018

In the construction and housing fair that is taking place in Managua, developers plan to sell 250 homes, mainly of the multifamily type.

For this fair, the country's various banking institutions have $180 million available for  mortgage loans. 

Nicaragua: Optimism in Housing Market

January 2018

The construction trade union intends to sell around 6,000 homes in 2018, a figure which is 20% higher than the amount of units sold in 2017.

For the construction sector, the year starts with the Expo-Casa fair that will be held in February, 60 urban projects will be included in the event and it is expected that 250 houses will be sold. Representatives from the Chamber of Developers of Nicaragua (Cadur) estimate that during Expo-House around $10 million worth of mortgages will be sold, and for the sales projections of 2018 the amount of the credit could reach $170 million.  

Nicaragua: More Financing for Social Housing

September 2017

Through a trust belonging to the Nicaraguan Institute of Housing $31 million will be available to finance the purchase of social interest housing, with a fixed interest rate of 7.5%.

Like the construction sector, banks have started backing financing of social interest housing. In the first half of the year, loans granted for the purchase of this type of housing registered an increase of almost 17%, according to reports from the association of developers.

Nicaragua: More Flexibility for the Housing Market

July 2017

The construction sector proposes extending the conditions of social housing loans to a larger segment of the population, in order to promote the sale of houses with prices of between $30 thousand and $50 thousand.

The association of developers is proposing that the interest rate benefit of 2.5% and the exemption from the registration costs that are currently granted to those who purchase social housing worth up to $23 thousand, be extended to more expensive homes, worth up to $50 thousand. 

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