"Housing for Everyone" Program Starts in El Salvador

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

Thursday, July 23, 2009

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.

Journalist Germán Rivas writes in an article in newspaper La Prensa: "According to the plan launched last week by president Mauricio Funes, these houses will be worth up to $13.000 each, and have 35 square meters of construction. The entire investment, to be done through FONAVIPO, will be of $28.6 million, and will generate 6.600 direct jobs and 13.200 indirect ones".

More on this topic

El Salvador: 6.300 Housing Loans in 2011

December 2010

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

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.

El Salvador: $ 140 Million for Housing

November 2010

BCIE and IDB funds will finance the "Casa para Todos" (Housing for Everyone) program.

The $ 70 million Inter-American Development Bank loan will go to build 6.373 homes for low-income families, of which 2.000 would be ready by March 2011.

The credit of the Central American Bank for Economic Integration (BCIE), of also $ 70 million, "will be implemented by the National Housing Fund (FONAVIPO), which will bid the affordable housing projects to developers," Elsalvador.com reported.

“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.

$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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