Two business groups in the capital are building two projects that combine residential, commercial and office spaces.
The need to diversify risk when selling various types of real estate, and to meet the demand for residential centers where residents have easy access to shops and services, has led to real estate investors to focus on mixed-use projects, which have "everything in one place. "
The tax on capital gain charged on real estate transactions discourages building middle-class housing.
The construction industry and the private sector have asked the Honduran Congress to repeal the 10% capital gains tax charged on real estate transactions. Both sectors believe that the tax discourages real estate development.
"The Law of Public Finance Planning, Control of Exemptions and Evasion Measures approved by Congress last year taxes at 10% the buying and selling of real estate ."
There is Increased investment in medium-sized commercial developments in the vicinity of residential areas.
Changes in people's habits, looking to cut commuting time from their place of work to their homes is influencing the investment decisions made by real estate developers who are focusing on building medium sized malls (between 1,000 and 5,000 m), located in the vicinity of residential areas and at high traffic points.
During 2013 the value of building permits increased by 27%, with projections being that it will keep up the same pace during 2014.
The dynamism of the construction sector experienced in 2013 will continue into 2014. The development of residential, commercial and megaprojects developed by the State such as the Metro, have propelled the sector.
Data from the National Institute of Statistics and Census (INEC) reveals that in 2013 "the total value of construction and additions in the country was $1.552 billion, while in 2012 it was $1.197 billion.
The AVIA real estate project to be built in the Zona Viva will have three towers, parking for 2,500 vehicles, and a convention center.
Elperiodico.com.gt reports: "The mixed-use project includes an investment of $125 million and is being driven by Grupo Cofiño Stahl and FS Richard, who after a contest to choose the design submitted by the firm Permuller & Cohen began the construction phase in the area measuring 16,400 square yards. "
In the last year the country has built about 120 thousand square meters of new class A and AB office spaces, and recorded an availability rate of 11.9%.
In recent years, Costa Rica has become one of the major markets for offices in Latin America, ranking eighth in creation of supply in this sector, according to a study by the US real estate firm Jones Lang LaSalle (JLL).
There are plans to build a mini-city on the beach in Puntarenas, two mega projects and 6 other smaller works that represent $211 million in investments.
The three largest projects will be developed by local companies in the province of Puntarenas, in the Central and Garabito cantons. "These, together with six other smaller private works, represent investments of over $211 million and the use of more than 164 hectares of land in the next 15 years," noted an article in Elfinancierocr.com.
House prices could increase by as much as $7000 because of underground cables laying, now postponed until January, in new residential complexes.
The Ministry of Housing and Territorial Ordinances has decided, along with promoters of urban projects, to postpone until January 2014, underground cable laying which was scheduled to start on September 1.
In the first quarter of 2013 a decline was registered in the construction sector reflected by lower cement consumption and lower volumes of construction loans.
A report by the Salvadoran Chamber of Construction (Casalco) reveals that during this period, 9,017 bags of cement weighing 42.5 kilograms were consumed, a figure which represents a decrease of 7% compared to the amount consumed in the same period in 2012.
Benzar Holdings has invested over $40 million in Atrium Mall, which will boast 14,500 m² to retail space.
The new mall, construction of which is expected to be finished in about two years, will also have seven rooms for art cinemas, a play area, a spa, restaurants and bars.
Prensa.com reports: "The new shopping center (which will be added to the other major ones stationed in the capital city) will serve a growing market in Costa del Este, Santa Maria Golf & Country Club and Chanis as well as new developments on the way to Tocumen International Airport. "
In the northwest of the city construction will take place of Ciudad Maya, a luxury residential complex which integrates a commercial area, a corporate area, an apartment building, and other recreational areas.
William Hall, a member of Inmobiliaria del Valle (Invalle), and project manager, said one of its additional attractions is that it will have a road bridge which will provide singular access to the complex.
The search for safe habitats and the shortage of land in the central areas of Tegucigalpa and San Pedro Sula, is driving the construction of high rise apartments and gated communities.
The phenomenon occurs mainly in Tegucigalpa and San Pedro Sula. "The projects being constructed in the new development areas have emerged in recent years following the decline of the historic center of Tegucigalpa, another trade hub of the city, which has been losing its glamor coupled with a lack of planning policies and a commercial road," reported Laprensa.hn article.
The increase of more than 5% in the cost of construction and the revaluation of land in the capital, has made the social housing segment unprofitable for builders.
"In its projections for 2013, the National Housing Council (Convivienda) a guild that brings together the leading companies involved in the construction of family units will build 8,206 dwellings (houses and apartments) with a total investment of approximately $800 million.
A project by the Chamber of Construction proposes the creation of a residential lease that would allow home purchases without payment of a deposit.
"Currently the project is in the hands of the Ministry of Housing so that they can review and assess it and it is also being studied by a committee in the Chamber of Construction which includes the financial sector," noted an article in Elfinancierocr.com.
During the fair is estimated that deals will be made for over $250 million, and that there will be participation by companies from the USA, Canada, Spain and other European countries.
CAPAC Expo Habitat 2013 is the International Construction and Housing Fair organized every year by the Panamanian Chamber of Construction (CAPAC).
This fair will be held from 11 to 15 September at the Atlapa Convention Center Panama, Panama City.