Nicaragua: More Flexibility for the Housing Market

The construction sector proposes extending the conditions of social housing loans to a larger segment of the population, in order to promote the sale of houses with prices of between $30 thousand and $50 thousand.

Monday, July 3, 2017

an dir="ltr">The association of developers is proposing that the interest rate benefit of 2.5% and the exemption from the registration costs that are currently granted to those who purchase social housing worth up to $23 thousand, be extended to more expensive homes, worth up to $50 thousand. 

The president of CADUR,
Héctor Lacayo, commented in an article by Trincheraonline.com that "..."We have had significant spikes in the last 8 years and they have been the product of all the actions that have been taken initially in the proposal of Law 677, Law on the Promotion of Social Interest Housing; and also the mechanisms that have been seen through the banks and the government to raise funds to finance these houses."

See also: "Construction in Nicaragua: Figures for 1st Quarter 2017"

He added that "... "Our approach as CADUR is to assess the expansion of the housing ceiling for a sector that is not yet being served, which is families who buy houses from 30 to 50 thousand dollars, who are middle class and are able to opt for these homes. We want to give them this benefit of the 2.5% interest rate and exemptions from registration expenses. CADUR will develop a new one-story housing option; multi-family projects of two and four floors taking advantage of the infrastructure in Managua."

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More on this topic

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.  

Bet on Housing Construction

November 2017

In Nicaragua, incentives for financing and construction are driving growth of the real estate supply, especially the development of multifamily complexes.

A recent reform of the special law to promote financing and construction of low-income housing explains the strong momentum that the activity has seen in recent months.

Nicaragua: More Financing for Social Housing

September 2017

Through a trust belonging to the Nicaraguan Institute of Housing $31 million will be available to finance the purchase of social interest housing, with a fixed interest rate of 7.5%.

Like the construction sector, banks have started backing financing of social interest housing. In the first half of the year, loans granted for the purchase of this type of housing registered an increase of almost 17%, according to reports from the association of developers.

Nicaragua: $11 million in Deals at Real Estate Fair

February 2017

300 homes were reserved at the fair and mortgages worth $11.5 million signed for construction and purchase of middle class and social interest housing.

Although the goal of 500 homes set by the Chamber of Builders of Nicaragua (Cadur) in the housing fair Expocasa, was not achieved, 300 homes were sold or reserved, and an estimated $10.5 million signed in mortgage loans with banks present at the fair.

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