Materials and other inputs saw rises of 25 percent in 2011, with a quintal of iron having the highest price increase.
Construction materials experienced a 25.6 percent increase last year, compared to prices in 2010. A quintal of iron was the item with the most notable rise, going from Q337.7 ($ 43) in 2010 to Q423.58 ($ 54) in 2011, reported PrensaLibre.com.
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%.
Prices of materials such as iron rods and cement, among other things, have gone up compared to 2010.
The rise in the price of oil and other raw materials at international level is one of the main reasons for the sharp increase observed in the prices of building materials in Guatemala.
The lack of public investment, credit restrictions and political instability are some of the reasons.
This was pointed out by representatives of the Regional Organization of Construction Chambers of Central America and the Caribbean, participants in the conference "Financing and Sustainable Development."
In May 2010 the local price of iron was up 9.3% and cement 8.4%, relative to May 2009.
An article by Fernando Quiñonez for Sigloxxi.com reports comments and opinions from members of the Guatemalan Construction and Industry Chambers regarding the price rises.
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