El Salvador Suspends Housing Fair in the US

CASALCO decided to discontinue the fifth housing fair, awaiting changes in the Salvadoran economy.

Thursday, May 28, 2009

The Salvadoran Construction Industry Chamber (CASALCO) believes that changes should include more long-term credit and the likely opening of a preferential interest law, among others.

German Rivas reported the statements of Ismael Nolasco, executive director of CASALCO, in Laprensagrafica.com: "There is unemployment and little credit availability in the United States, apart from the emotional instability Salvadorans abroad have due to the same crisis."

More on this topic

Housing Industry Wants to Consolidate Recovery

January 2012

In 2011, house sales in El Salvador grew by 4%, and the industry is planning new campaigns to encourage home ownership.

Strengthening the housing market is a key item for the construction industry to consolidate the economic recovery of 4% recorded in 2011, noted the Salvadoran Chamber of Construction (CASALCO).

El Salvador: Home Rental Market Heats Up

June 2010

Salvadorans are gearing more towards renting homes, as buying real estate is becoming increasingly difficult, due to little credit and complicated paperwork.

Additionally, banks are lending little money to build new homes. According to Casalco (Salvadoran Chamber of Construction), home building loans have dropped 73.4% in the first quarter of 2010.

Housing Sales Drop 70% in El Salvador

February 2009

The sale of houses has fallen 70% and the most affected range of housing is that of more than $150 thousand, explains Gonzalo Olano, an expert in real estate.

Elsalvador.com publishes: "Olano adds that various apartment projects have remained stalled, well, "the problem of all of this is that banks are not giving credit."

The 4th Housing Fair launched for Salvadorans abroad

August 2008

The event will be celebrated from October 17-19 in Los Angeles (California, USA) and will have the participation of more than 40 financial and non-financial institutions, construction firms, and urban developers.

Previous editions of the fair have left the Salvadoran construction industry with some $12 million which corresponds to 236 units.

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