How Many Homes Are Being Built in Guatemala?

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.

Tuesday, February 25, 2020

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.

See "Residential Construction: Figures in the Region"

Regarding the causes of the increase in demand, Leonel Marroquin Navarro, assistant manager of projects and housing at the Institute for the Promotion of Insured Mortgages (FHA), explained to Prensalibre.com that "... the family nuclei are demanding housing in the metropolitan area as a result of the traffic factor and the preference is for central areas. Now that there is more vertical property, people are buying again because traffic is a factor."

Fernando Estrada Dominguez, director of the Statistics Commission of the Guatemalan Chamber of Construction (CGC), said that "... last year there was a recovery in mortgage bonds with respect to 2018 and it is a positive sign for the industry, which at the same time activates other activities in the economy and above all employment."

Also see "Construction: Millionaire Investments in the Region"

Zones 1, 2, 3, 4, 5, 6, 10, 11, 12, 13, 14, 15, 16, 18 and 21 of Guatemala City are where most projects are located, however, in zones 3 and 8, considerable investments are also made.

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More on this topic

More High Rise Housing in Guatemala

March 2018

According to representatives from the union, 2016 was the first year in which more apartments were built than houses in Guatemala City, and in 2017 the trend continued.

Construction entrepreneurs confirm that growth in the sector over the last two years is mainly explained by the execution of vertical housing projects, which have mostly been built in Guatemala City.  

Guatemala: Shortage of Vertical Social Housing

October 2016

There is need to develop more vertical residential projects in urban areas at low cost and with reduced areas.

Small houses with sale prices of less than $32 thousand are what need to be built in order to increase the supply of properties for low socio-economic segments of the population in urban areas. 

Guatemala: Premium Housing Market

March 2015

Most of the premium housing supply is located in the Eastern region of the metropolitan area, where spaces are offered measuring approximately 200 square meters and are priced from $150,000 upwards.

The Guatemalan Chamber of Construction (CGC) states that "... the market for premium housing in the country hovers around 15%," where the alternative to luxury apartments shows an upward trend.

Guatemala: More Real Estate Development in the Capital

September 2014

The increasing preference for residences in central areas of the capital is generating business opportunities for developers in areas which have not yet been exploited.

Real Estate companies say that although there is a good distribution of the supply of high rise and traditional houses in the capital, "... development is needed of zones 3, 6, 7, 8, 9 and 12, which have access and services."

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