Nicaragua: 4.000 Social Houses Projected

Development companies expect the Government to allocate $ 40 million for the construction of social housing by mid-year.

Thursday, February 10, 2011

The Builders Chamber of Nicaragua (Cadur) said the funds will achieve the goal set by the Nicaraguan Social Security Institute, INSS, of 4.000 homes for 2011.

El Nuevo Diario writes, "...the chamber is asking for longer housing loan periods, or lower interest rates, so Nicaraguan families have more options to buy a home, announced the president of Cadur, Alberto Atha."

More on this topic

Demands for Adjustments to Social Housing Prices

December 2012

The Chamber of Construction Companies in Nicaragua has requested an adjustment to the maximum setting to qualify for benefits for social housing, in relation to the current costs of construction.

Laprensa.com.ni reports that "Law 677, or the Special Law for the Promotion of Construction of Access Housing or Affordable Housing, is almost obsolete.

23,000 Homes That Cant be Sold

October 2011

They were built to be sold using government subsidies, but an increase in the cost of building materials has pushed their real price above the limit established by the law.

The Government is maintaining its position of not raising the price ceiling of $20 000, stating that this would not benefit poor families, but recognizes that it must find a solution to the problem.

Nicaragua Amends Value of Subsidized Housing

May 2011

The Government will raise the ceiling of the subsidy value to include homes whose value is less than $30 thousand.

Currently the subsidy is granted for home purchases of less than 60 square meters and that are priced at less than $20 thousand.

Lucia Navas writes in his article for Laprensa.com.ni, "The business chambers argue that the value of building houses in the country has increased in general as a result of the price of construction materials reporting strong increases, therefore houses worth less than $20 000 no longer exist. "

Nicaraguan Construction Optimist for 2010

October 2009

The private sector expects to build between 5.000 and 7.000 social housing units, with prices between $12.000 to $15.000.

Constructors are expecting an increase of 40% when compared with 2008, as a result of the coming into effect of a law fostering social housing and millionaire disbursements to banks by the Social Insurance System.

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