Costa Rica: Figures on Housing Loans

38% of total bank lending corresponds to housing construction, while 35% is used for buying new homes.

Monday, September 5, 2016

Data from the housing loan portfolio in the domestic financial system shows that the proportion of loans requested by Costa Ricans to build their homes is higher than loans used to buy existing homes.

Elfinancierocr.com explains that "...The Costa Rican financial system has a balance of credits which were used for housing amounting to ¢4.6 billion. This amount represents 25% of all outstanding loans in the country (¢ 18 billion).  For housing construction, the balance is ¢1.75 billion and, for the purchase of new homes, it is ¢1.62 billion. Both lines represent 73% of the total."

The figures from the Superintendent of Financial Institutions show that the housing finance portfolio grew by 12% between July 2015 and December 2016.

You many want to read: "Costa Rica: $56 million in Residential Projects" and "42 sqm Apartments for $74,000"

"... All types of loans that make up the portfolio have fed this increase except for those for constructions for non-commercial use by a third party, one of the lowest, which fell by 10%."

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