Guatemala: Residential Construction Up 3%

The union expects year-end residential construction will grow by 3.5%, below the 3.8% projected by the Bank of Guatemala.

Thursday, November 5, 2015

The residential construction sector remains low but with stable growth, driven by the construction of high rise housing in urban areas, particularly in urban areas, a zone that professionals and young families belonging to medium-high socioeconomic level favor because it is closer to the city.

"... According to figures from the Guatemalan Chamber of Construction, this year the sector
will continue to grow by between 3 and 3.5 percent, figures which are lower than the 3.8 percent predicted by the Bank of Guatemala. In the case of housing, the number of square meters of construction in the metropolitan area is growing . Up until October this amounted to 1.2 million compared to 993,000 in the previous year. " reports that "... Despite the boom, the problem of social housing continues, it is something that is not being addressed and that is leading to a housing deficit of 1.6 million. To combat this shortage, a law was lobbied Congress to achieve a preferential interest rate in order to make housing more affordable, but it never prospered. In response, the representative from Anacovi indicated that he was the issue is not being supporting now, but he said that the idea is to reinvigorate it in January with the beginning of the new government. "

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Because of the new commercial reality that has emerged in an accelerated manner and with the boom of telecommuting, potential buyers are more inclined to buy an individual home, which offers more privacy, than an apartment.

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How Many Homes Are Being Built in Guatemala?

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In the country's metropolitan area, nearly 16,000 homes are being built, most of which are apartments and will be available in the coming months.

The good numbers for the construction sector in the country will continue in the coming months, since currently 112 real estate projects are being developed in the department of Guatemala, which will increase the housing supply in the next three years.

Optimistic Projections for Housing Fair

March 2018

The Panamanian Construction Association is planning mortgage transactions of $120 million at the Housing Expo, which will be held from April 12 to 15 at the Atlapa Convention Center.

The Panamanian Chamber of Construction (Capac) reported that in the " ...

Real Estate Boom in Eastern Panama

December 2017

Greater mobility provided by Line 2 of the Metro in the East of the capital explains the growing attractiveness of the area for real estate development, especially for residential construction.

As of October 2013, the total amount of area processed for new residential buildings in the province of Panama amounted to 903,000 square meters, while in the same month in 2017, just four years later, the figure exceeds one and a half million square meters.

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