For 2013, the Chamber of Builders of Nicaragua projects an increase in housing construction of between 10% and 12%, the lowest percentage in the past three years.
"In the last three years, not including the current one, between 12,000 and 14,000 homes were built, that's a ratio of about 4000 houses per year, for this reason we believe that this year growth will not have the same level bringing acceleration," said Alberto Atha, vice president of the Chamber of Urban Builders (Cadur).
The Chamber of Builders and the government are working together to achieve the funding necessary to reach the target of 10,000 new homes every year.
Laprensa.com.ni reports that "After fulfilling the goal of building 4,000 houses and delivering them in 2012, the goal is to raise the annual figure by a thousand houses. The private sector is convinced that this growth rate will mean ten thousand new homes per year after five years. "
In light of rumors over possible changes to mortgage conditions, Nicaraguan real estate developers are asking the country's banks not to go through with them because they would affect the sector’s growth.
Alberto Atha, president of the Chamber of Builders of Nicaragua (Cadur), said that a rumor is spreading that some banks will increase interest rates on mortgage loans by between one and two percentage points and the premium could be increased by 15 %. "We are convinced that such a move would affect and stagnate the growth process that the industry is experiencing." ... although the changes are not yet official, they are holding talks with banks asking for these measures not to be applied in the immediate future. "
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.
The rising costs of materials and the government's refusal to raise the ceiling price on affordable housing could derail the National Housing Plan.
The Government is maintaining its position of not raising the ceiling price of $20 000 to $26,500, saying that would not benefit low income families.
The Speaker of the Chamber of Developers (Cadur), Alberto Atha, argues that it is impossible to construct houses on a mass scale that cost between $10,000 and $15,000, considering the increase in construction costs. Atha says another problem is the lack of financing for this segment in the financial system.
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