Plan for Home Ownership

An announcement has been made in Guatemala for a housing subsidy program for public officials, and mortgage credit lines for private employees.

Friday, November 16, 2012

Prensalibre.com reports that Alejandro Sinibaldi, Minister of Communications, Infrastructure and Housing (CIV in Spanish), advertised the program, after having opened the sixth edition of the Housing Fair Expocasa, organized every year by the Guatemalan Construction Chamber (CGC).

"Sinibaldi said that public employees can purchase subsidized homes via the Guatemalan Housing Fund. He added that three banks in the system will offer workers credit lines for acquiring housing for up to Q250 thousand, with interest rates of 7 percent, which means monthly installments from Q500. "

"José Luis Agüero, president of the CGC, said the industry is able to produce one hundred thousand housing units a year, as long as the Government provides the conditions conducive to reviving the market."



More on this topic

New Incentive for the Housing Market

September 2019

In Panama, the National Assembly approved in the third debate the bill that contemplates interest rate benefits for the purchase of homes for a value of up to $180,000.

The proposal was endorsed after the Cabinet Council approved Bill No.

Expovivienda in Panama: $9 million Per Hour

May 2015

In the first two days of the real estate and construction fair deals worth $70 million were struck, mainly related to the sale of residences.

Authorities at the Panamanian Chamber of Construction expect the figure at the close of the event to be close to $150 million.

Honduras: High Interest Rates Paralyzes Construction

March 2013

The real estate industry complains that lack of credit and interest rates that increased from 10% to 21% are preventing housing construction in the country.

According to Andres Salinas, an executive in the real estate sector, when the Honduran Bank for Production and Housing (Banhprovi), gave out loans at rates of 10%, the fees paid by buyers were smaller, but now "there are no funds and banks are granting some at 18.5% and others at up to 21%, there is no capacity," he said.

Growing Homeownership With Insured Mortgages

November 2012

The decrease in the taxes paid on the purchase of existing homes in Guatemala is probably the main factor in the interannual rise of 26% in the System for Development Insured Mortgages (FHA).

Sergio Irungaray Suarez, manager of the FHA, said: "We estimate that this benefit will be more and more in demand and, therefore, it will partly solve homelessness."

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