Construction in El Salvador: Figures up to February 2016

In the first two months of the year the total amount of loans granted to build houses fell by 85% compared to the same period in 2015.

Thursday, May 19, 2016

Data from the Salvadoran Chamber of Construction (Casalco) indicates that out of the total credit extended by the banking system to productive sectors in the country, only 1% was for construction loans.

As for loans granted for housing, in January and February Casalco reported that only $1.2 million was awarded to construction companies, well below the $8 million recorded in the same period in 2015.

Moreover, the Apparent Cement Consumption (measured in thousands of bags of 42.5 kilos), was, in January 1986, slightly less than the consumption in January 2015, when the figure recorded was 1999.

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More on this topic

Housing Credit Down 55% In El Salvador

September 2013

Up to June banks had only provided financing for housing projects worth $14.36 million, while in the same period last year it had already reached $32 million.  

"The new housing projects can be counted on the fingers of one hand," said the executive director of the Salvadoran Chamber of Construction Industry (Casalco), Ismael Nolasco, adding that the drop is a reflection of an industry that is not investing in large housing projects because it has seen any demand.

38% Increase in Mortgage Loans in El Salvador

April 2012

In February credit for the construction sector reported a growth of 38.22%.

According to the Salvadoran Chamber for the Construction Industry (Casalco), the industry obtained between the months of January and February about $79 million in loans to build and buy homes, representing an increase of 38.22% compared to the same period in 2011.

More Credit for Construction Sector in El Salvador

March 2012

In a clear demonstration of the return of confidence in the banking sector in January 2012, construction loans increased four fold compared to January 2011.

Two reasons behind the increase in lending: the 8% growth of the industry in 2011 and the return of confidence in the banking sector, reports Elmundo.com.sv.

El Salvador: Construction After Banking Flexibility

April 2009

In the absence financing solutions, the construction union sector initiated meetings with private banks.

The Salvadoran Construction Industry Chamber (CASALCO) is not seeking massive loans, but more flexibility in granting credit.

La Prensa Grafica published on its website: According to Nolasco, the hope is to find new funding mechanisms in private banking, as well as to know what the requirements are to gain access to resources. Earlier this year, several construction companies went to the the Multisectoral Investment Bank (BMI) to look for financing mechanisms that would allow the development of 11 housing projects that needed an investment of $70.1 million, of which $31 million was expected to be obtained from the second-tier bank."

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