Boom in Vertical Construction

The need to live in areas close to workplaces and study centers, partly explains the upward trend that has reported in recent years’ vertical construction in the Guatemalan capital.

Thursday, February 7, 2019

Data from the Municipality of Guatemala detail that between 2017 and 2018, the number of square meters authorized in vertical construction projects increased by 41%, going from 2.69 million to 3.8 million.

You may be interested in "Central America: $1.6 billion in High Rise Housing"

Javier Ruiz, president of the Chamber of Construction, explained to that "... the vertical works sector has been growing since 2015, when the promotion of apartments to all market niches began. He added that the current offers start from Q280 thousand to Q300 thousand with areas from 24 square meters."

The article reviews that ".... The Single Window last year approved 55 licenses for vertical housing complexes that total 1 million 917 thousand 226.68 square meters. Of these 28 are concentrated in zone 15, one of the areas with the largest expansion in office and apartment building in the last three years. Then it is followed by zones 10, 14 and 16."

Also see "Construction: $320 Million in New Projects"

Regarding the behavior of the sector, at the beginning of the year it was reported that in 2018 national construction registered a year on year growth of almost 4%, which reinforces the upward trend that has been reported since 2011.

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More on this topic

How Many Apartments Are for Sale in Guatemala?

October 2019

In the metropolitan area of the country, there are an estimated 87 vertical housing projects for socioeconomic segment C, offering 5,963 apartments.

Representatives of the firm Global Inspections, detail that the 87 projects that are currently in the sale phase in the department of Guatemala, together accumulate a $874 million investment.

More High Rise Housing in Guatemala

March 2018

According to representatives from the union, 2016 was the first year in which more apartments were built than houses in Guatemala City, and in 2017 the trend continued.

Construction entrepreneurs confirm that growth in the sector over the last two years is mainly explained by the execution of vertical housing projects, which have mostly been built in Guatemala City.  

Guatemala: Premium Housing Market

March 2015

Most of the premium housing supply is located in the Eastern region of the metropolitan area, where spaces are offered measuring approximately 200 square meters and are priced from $150,000 upwards.

The Guatemalan Chamber of Construction (CGC) states that "... the market for premium housing in the country hovers around 15%," where the alternative to luxury apartments shows an upward trend.

Construction Data in Guatemala

November 2014

The total number of square meters of construction sites authorized in the first nine months of the year in the municipalities of the metropolitan area increased by 8.9% compared to the same period in 2013.

From January to September of this year authorization was given for the construction of 1.6 million square meters of buildings, similar to that reported in 2013 which was for 1.8 million square meters, in other words, it is expected that by the end of 2014 an increase in the amount of construction will be reported.

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