El Salvador: 6.300 Housing Loans in 2011

Out of $ 99 million in loans it is estimated that 53% will be invested in new housing.

Thursday, December 9, 2010

The trend over recent years has been the purchase of used housing, according to Thomas Chévez of the Social Housing Fund (FSV).

"The balance that could be achieved regarding the trend is because in 2011 the supply of new housing, specifically of social interest, will increase due to construction projects from the program “Casa para todos,” reports the article in Laprensagrafica.com.

More on this topic

Salvadorans Demand More Used Housing than New

September 2010

Since 2008, more people have applied for loans to buy pre-owned homes than for new ones.

According to data from El Salvador's Social Housing Fund (FSV), in 2006 of 1,520 registered loans, 1,169 were for a new home. In 2008 the trend changed with more mortgage applications for pre-owned houses.

“Housing for Everyone" Program Receives More Funding

July 2010

El Salvador’s government signs agreements with commercial banks to obtain short-term finance for the social housing project.

Tomás Chévez, president of the Social Home Fund (FSV), commented that the agreements had been signed with Banco Agrícola and HSBC.

Without revealing the size of the loans, he added that the funds from Banco Agrícola will go towards five housing projects while the HSBC loan will fund two.

"Housing for Everyone" Program Starts in El Salvador

July 2009

The government plan "Housing for Everyone" ('Casa para Todos'), started transferring and dividing state terrains into lots, where 2.050 houses will be built.

1.500 homes will be built in the capital city and 550 in the east of the country. The location of an additional 150 is still to be determined, to achieve the target of 2.200 homes in 18 months.

$232 Million in Social Housing

July 2009

Salvadoran home builders welcomed President Funes's announcement, that turns into reality the long awaited anti crisis plan for the sector.

Funded by the government and the private sector, the global housing project aims to build 25.000 homes, generating over 100.000 direct and indirect jobs.

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