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.
Real estate companies have reported a glut in the market for houses with prices below $120 thousand in the capital, while at the same time there is a growing supply of properties priced above $250,000.
The supply of middle class housing in Panama is still insufficient to meet demand, but at the same time the inventory of properties with higher prices continues to grow, but is accompanied by a demand that is not growing at the same rate.
In Costa Rica, Infinito Versol S.A. is planning to issue $42 million in debt bonds in the local market in order to finance construction of a residential development of 1,600 homes.
The issue was authorized by the General Superintendency of Securities in November 2016, and the placement in the local market is scheduled to take place before April this year.
The construction sector expects an increase in demand now that there has been an official increase from $20 thousand to $23 thousand in the ceiling for the price of social housing.
In addition to raising the cap so that more homes are considered of social interest and can be purchased with a subsidy on the interest rate, it was also agreed to grant a direct bonus of up to $2,000 for families to finance the purchase of a home of this kind.
38% of total bank lending corresponds to housing construction, while 35% is used for buying new homes.
Data from the housing loan portfolio in the domestic financial system shows that the proportion of loans requested by Costa Ricans to build their homes is higher than loans used to buy existing homes.
Elfinancierocr.com explains that"...The Costa Rican financial system has a balance of credits which were used for housing amounting to ¢4.6 billion.This amount represents 25% of all outstanding loans in the country (¢ 18 billion). For housing construction, the balance is ¢1.75 billion and, for the purchase of new homes, it is ¢1.62 billion.Both lines represent 73% of the total."
Analysis is being done on the concept of a leasing and a housing trust fund to facilitate greater access to bank financing for the construction industry.
The Salvadoran Construction Chamber believes that its financial capacity to develop more projects could be expanded through the use of trusts.Its president, Jose Antonio Velasquez, told Laprensagrafica.com that"... at the moment banks lend to housing developers'against their balances'. By using the concept of trust loans, the bank takes control of the project and would be able to lend more".
Financing for housing and sustainable urban development will be the topics under discussion at the event to be held on August 22 and 23 in Managua.
The Chamber of Builders in Nicaragua and the Inter-American Housing Union are organizing the event, which will bring together professional financial real estate companies, developers and builders, banks and finance companies, savings and loans companies for housing, cooperatives, investors, and representatives of public entities.
In the first two months of the year the total amount of loans granted to build houses fell by 85% compared to the same period in 2015.
Data from the Salvadoran Chamber of Construction (Casalco) indicates that out of the total credit extended by the banking system to productive sectors in the country, only 1% was for construction loans.
As for loans granted for housing, in January and February Casalco reported that only $1.2 million was awarded to construction companies, well below the $8 million recorded in the same period in 2015.
Competition, interbank interest rates and a stable exchange rate are the reasons for the growth of the housing loan portfolio in the first quarter of 2016.
An article on Elfinancierocr.com reports that "... Housing credit has been growing at safe rate since the start of 2016 and this market is expected to remain this way for the rest of the year ...
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"
On September 24 and 25 construction companies and the real estate sector will meet to discuss the economic, political and institutional factors that are hinder the housing development in the country.
One of the topics at the event organized by the Central Housing Association (ACENVI) is the way to solve the problem of future housing deficit in the country, which now exceeds a million and a half homes.
The Social Housing Fund wants to revive the housing market by reducing interest rates for the purchase of new or used homes by 5.5%.
In the case of loans to public institutions for the purchase of new houses, the rates will drop from 6.05% to 5.50%, while for private loans for new houses, the rate will be reduced from 8.5% to 8 % for amounts ranging between $31,000 and $125,000.
The Inter-American Development Bank has loaned $35 million to a cooperative to be used to grant housing loans under $109,000.
Of the total loan, $25 million will be administered by the National Cooperative of Educators (Coopenae) and the remaining $10 million by other entities.
The manager Coopenae Housing, José Manuel Salazar told Nacion.com that "...