Home sales: Market Shows Signs of Progress

Businessmen estimate that between 750 and 800 houses were sold in Nicaragua during the first four months of the year, a figure that would be far from the sales reported prior to the socio-political crisis of 2018, but would exceed the sales of the last three years.

Tuesday, May 11, 2021

In 2017, before the political and social crisis broke out, 5,000 houses were sold in the country per year. In 2018 the figure dropped to 800 and in 2019 it increased slightly and climbed to 1,000 units.

According to preliminary estimates of the Chamber of Developers of Nicaragua (Cadur), only for the period from January to April 2021, between 750 and 800 houses were sold.

Learn more about CentralAmericaData's "Commercial Feasibility Studies".

Felix Baltodano, president of Cadur told Laprensa.com.ni that "... we estimate that thanks to the fair (in March), only in two days we managed to reserve 50 houses, however thanks to it at the end of the month we managed to place about 250 houses, it is an important number and we believe that by April 30 we have between 750 and 800 houses reserved, that is, our expectation of compliance of 3,00 is going well, that means a placement of 24 million dollars in sales."

Baltodano explained that "... the sector's expectations have been exceeded, mainly after coming from three years of strong contractions, during which period the banks tightened their mortgage financing policy."

CentralAmericaData reports state that in 2020 in Central American countries 172 environmental impact studies were presented to develop condominiums, apartment buildings and other housing projects. These projects together add up to an investment of approximately $1.7 billion.

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How to Reactivate Residential Construction?

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Offering more amenities in residential complexes and maintaining the discounts offered in housing fairs for longer are some of the strategies applied by real estate developers in Costa Rica to increase sales of new homes.

According to the most recent figures from the National Institute of Statistics and Censuses (INEC), between the first half of 2018 and the same period in 2019 the number of houses built in Costa Rica fell by 11% from 10,753 to 9,620.

Nicaragua: Optimism in Housing Market

January 2018

The construction trade union intends to sell around 6,000 homes in 2018, a figure which is 20% higher than the amount of units sold in 2017.

For the construction sector, the year starts with the Expo-Casa fair that will be held in February, 60 urban projects will be included in the event and it is expected that 250 houses will be sold. Representatives from the Chamber of Developers of Nicaragua (Cadur) estimate that during Expo-House around $10 million worth of mortgages will be sold, and for the sales projections of 2018 the amount of the credit could reach $170 million.  

Housing Construction in Nicaragua

January 2013

The Chamber of Builders and the government are working together to achieve the funding necessary to reach the target of 10,000 new homes every year.

Laprensa.com.ni reports that "After fulfilling the goal of building 4,000 houses and delivering them in 2012, the goal is to raise the annual figure by a thousand houses.

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