Nicaraguan Construction Optimist for 2010

The private sector expects to build between 5.000 and 7.000 social housing units, with prices between $12.000 to $15.000.

Friday, October 16, 2009

Constructors are expecting an increase of 40% when compared with 2008, as a result of the coming into effect of a law fostering social housing and millionaire disbursements to banks by the Social Insurance System.

"We are optimistic about the coming into effect of the law, as it covers one of our two concerns. The other one is how to apply the subsidy and what interest rates will be used. We have already discussed this with the banks", explained Alfonso Silva, from the Urbanization Chamber of Nicaragua.

More on this topic

Building Social Housing is Unprofitable

August 2016

Development companies in Nicaragua believe that profitability in the construction and sale of this type of housing has not occurred as expected due to difficulties in obtaining financing.

The Chamber of Builders in Nicaragua (Cadur) argues that the bond that the government announced earlier this year to facilitate access to financing to acquire affordable housing is not what was expected, and because of this, this segment of the market is not proving profitable. They state that the homes that are still being sold with good results are those with prices ranging between $20,000 and $50,000. These represent   "... 60% of sales."

23,000 Homes That Cant be Sold

October 2011

They were built to be sold using government subsidies, but an increase in the cost of building materials has pushed their real price above the limit established by the law.

The Government is maintaining its position of not raising the price ceiling of $20 000, stating that this would not benefit poor families, but recognizes that it must find a solution to the problem.

Nicaragua: 4.000 Social Houses Projected

February 2011

Development companies expect the Government to allocate $ 40 million for the construction of social housing by mid-year.

The Builders Chamber of Nicaragua (Cadur) said the funds will achieve the goal set by the Nicaraguan Social Security Institute, INSS, of 4.000 homes for 2011.

Housing Demand Increases in Nicaragua

August 2010

The housing deficit is on the rise and the country currently needs to build 500,000 new homes.

During the third National Housing Forum held in Managua, both the government and the private sector agreed that what is needed is more social housing projects.

The president of Nicaragua's Chamber of Developers (Cadur), Ingrid Herrera, insisted on the need to reduce bureaucracy: "we need institutions to adapt to the "Housing Law" and to enable permits to be obtained within 90 days, as established in the law," reports Elnuevodiario.com.ni.

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