Nicaragua: More Backing for Housing Construction

The Ortega administration intends to build 119,000 homes within 5 years, 70 thousand of which will be built by the state and the rest by private companies.

Wednesday, January 11, 2017

The recent increase from $20 thousand to $23 thousand in the ceiling of the price of social housing constitutes an incentive for the private construction sector, since it is expected that better conditions for access to financing will encourage an increase in demand. In this context, the government has announced plans to increase the housing supply in the country by 119,000 units.  

".. According to figures presented at the International Congress of Social Housing last October, in the first half of this administration (2007-2011), in conjunction with private enterprise, the construction of 38.708 homes was promoted. After that, in the second period (2012 and 2016), the construction of houses was 60.938, making a total of 99.646 houses in the ten years that Daniel Ortega has been in office."

In order to realize this plan an average of 24 thousand homes will have to be built every year. The figures indicate that in recent years an average of 10 thousand units per year have been built.

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More on this topic

The Homes that Honduras Needs

June 2017

The housing deficit in the country is estimated at 1.2 million, with the difficulty faced by developers in obtaining financing having become one of the main obstacles.

Representatives from the association of civil engineers believe that in order to solve the problem of homelessness in the country, 45 thousand units need to be built every year for the next 20 years. Of these 45 thousand, 35 thousand will be to cover part of the existing deficit and the rest to meet the new demand that is emerging.

Housing Market in Panama: What to Expect in 2017

March 2017

This year the union of housing developers plans to build 10,958 houses and apartments and generate sales of $979 million, 23% more than in 2016.

Figures from the National Council of Housing Promoters (Convivienda) indicate that in 2016, 8,864 houses were built and sales of $793 million were made, an increase of almost 8% compared to 2015. 

Building Social Housing is Unprofitable

August 2016

Development companies in Nicaragua believe that profitability in the construction and sale of this type of housing has not occurred as expected due to difficulties in obtaining financing.

The Chamber of Builders in Nicaragua (Cadur) argues that the bond that the government announced earlier this year to facilitate access to financing to acquire affordable housing is not what was expected, and because of this, this segment of the market is not proving profitable. They state that the homes that are still being sold with good results are those with prices ranging between $20,000 and $50,000. These represent   "... 60% of sales."

More Homes Needed in Managua

June 2016

Despite the greater dynamism in the construction of social housing in the country, a deficit persists in the capital, where 80 thousand units are needed.

Although there is a plan to facilitate access to housing coordinated by the Institute for Urban and Rural Housing, the difficulties faced in order to satisfy the growing demand for housing in the capital, creates an opportunity for the private sector, which could build the 80 thousand homes that are still lacking in Managua. 

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