In the country's metropolitan area, nearly 16,000 homes are being built, most of which are apartments and will be available in the coming months.
The good numbers for the construction sector in the country will continue in the coming months, since currently 112 real estate projects are being developed in the department of Guatemala, which will increase the housing supply in the next three years.
According to representatives from the union, 2016 was the first year in which more apartments were built than houses in Guatemala City, and in 2017 the trend continued.
Construction entrepreneurs confirm that growth in the sector over the last two years is mainly explained by the execution of vertical housing projects, which have mostly been built in Guatemala City.
The increasing preference for residences in central areas of the capital is generating business opportunities for developers in areas which have not yet been exploited.
Real Estate companies say that although there is a good distribution of the supply of high rise and traditional houses in the capital, "...
In Guatemala, where the housing deficit is 1.5 million units, they only manage to produce between 20,000 and 50,000 homes a year, a situation that is forcing authorities and the private sector to find solutions.
The minister of Communications, Infrastructure and Housing (VIC), Alejandro Sinibaldi, told Lahora.com.gt that at present, the housing deficit in Guatemala is 1.5 million units.
The deficit between supply and demand for housing solutions is growing every year, requiring state policies for the creation of credit systems for low-income sectors.
In Guatemala, the demand for housing grows between 55,000 and 60,000 units every year, but only 20,000 new houses are built, calculates the Guatemalan Chamber of Construction (CGC).
The Chamber of Construction Companies is urging the Government to create a new financing model for home purchases.
Employers propose that the government subsidize up to four interest rate percentage points for the purchase of homes under $38,000 and up to two points for homes between $38,000 and $51,000. Current interest rates fluctuate between 7.5% and 9%.
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