Through a trust the government will provide financing for the purchase of middle class housing, in local currency and at a rate of 8.7%.
From a statement issued by Coalianza:
Tegucigalpa, April 9. With an amount of 600 million lempiras (around $25 million) and to benefit 2,000 Honduran families, the government today announced a trust that will have a special focus on guaranteeing access to housing for the middle class.
This year in Panama realtors expect to sell 9,000 homes and generate $1.146 billion, which would be a 34% increase compared to the value sold last year.
The National Council of Housing Promoters (Convivienda) plans to sell 8,958 units of housing nationwide this year, after having sold 7,219 units last year.
The nicaraguan government has announced a new subsidy on the interest rate for apartments´purchases worth up to $50,000 and constructed within buildings with no more than four floors.
In addition to this new incentive to purchase housing classified as social interest and in high rise form, the Ortega administration has announced that it will expand from $32 thousand to $40 thousand the maximum value of high rise housing that is eligible for the current interest rate subsidy.
This year the union of housing developers plans to build 10,958 houses and apartments and generate sales of $979 million, 23% more than in 2016.
Figures from the National Council of Housing Promoters (Convivienda) indicate that in 2016, 8,864 houses were built and sales of $793 million were made, an increase of almost 8% compared to 2015.
During the event 2,575 mortgages were sold, among which social and middle class housing stood out the most, with prices ranging between $40,000 and $80,000.
The figures provided by the Panamanian Chamber of Construction (Capac) again reflect the growing need for housing that exists in the country, mainly in middle class and lower class segment.
"...Capac reported that 79% ($144,010,565) of the approved amounts corresponded to preferential interest housing and of that figure, 7% ($12,760,000) was approved for social interest properties."
Out off the 8,232 homes sold in 2015, 76% was sold at prices lower than $120.000, 18% at prices between $120,000 and $350,000 and the remaining 6% above $350,000.
Figures from the National Board of Housing Developers (Convivienda) show that home sales for the year totalled more than $900 million.
From the report "Convivienda Results Projections for 2015 and 2016"
The recently approved amendment to the Housing Act provides a subsidy of 2.5% in the interest rate for mortgage loans that are not greater than $32,000.
Responding to industry demands and seeking to motivate the new housing market, the recently approved reform also provides, as well as the subsidy, that any bank can apply the exemption of 15% from Value Added Tax (VAT) for mortgage loans with this same ceiling rate.
BCIE and IDB funds will finance the "Casa para Todos" (Housing for Everyone) program.
The $ 70 million Inter-American Development Bank loan will go to build 6.373 homes for low-income families, of which 2.000 would be ready by March 2011.
The credit of the Central American Bank for Economic Integration (BCIE), of also $ 70 million, "will be implemented by the National Housing Fund (FONAVIPO), which will bid the affordable housing projects to developers," Elsalvador.com reported.
The Social Housing Fund announced that it has increased its credit coverage to attend to other Salvadoran segments.
These include Salvadoran abroad, retirees, IPSFA members and workers with variable income, independent workers and professionals, business people, people with businesses at home and micro, small and medium sized business owners.
At the same time, the FSV has increased the loan amount from $14,285.71 to $50 thousand.
The approval of the credit terms and conditions to acquire a home is part of the strategy promoted by the Fondo Social para la Vivienda (Social Housing Fund) to increase the loan coverage.
The credit policy also seeks to reduce the deficit of social interest housing, assured the president and executive director of the FSV Enrique Oñate Muyshondt yesterday.