Growth in Supply of Housing Loans in Costa Rica

©image: pnwra

The Costa Rican banking system's housing credit portfolio makes up 31% of 31% of all non-financial private sector loans, measured in colones. As of May year on year sector growth stood at 3.71%, according to the Central Bank.

"It is worth remembering that this result does not depend solely on the demand for credit. Exchange rate fluctuations can also affect the figure since many loans are sold in dollars," comments an article in Nacion.com.

Source: Nacion.com

More on this topic

Credit for Homes in Costa Rica Decreases

January 2012

The four state-owned banks intend to lend $682 million in housing in 2012, 20% less than last year.

Publicly owned banks (National, Costa Rica, Bancrédito and Popular) have set a goal of granting ¢351,000 million ($682 million) in housing loans during the course of 2012, reported Nacion.com.

The Banco Popular Bank in Costa Rica reactivates housing and consumer credit

January 2009

The bank hopes to offer $548 million in loans for consumption, housing and development in 2009.

Nacion.com reports that "this year the bank hopes to offer $381 million (¢213 billion) in consumer loans and $55 million (¢31 billion) for house construction or purchase.

The Bank will also set aside $148 million (¢82.7 billion) in loans for development."

Costa Rica: 100% Home Financing

February 2010

“Banco de Costa Rica” earmarked $100 million for a home loans program called “Vivienda para Elegir” (“Homes to Choose”).

Loans can be in dollars or Colones, and is intended for Costa Rican nationals or residents.

This financing is only available is the customer has additional collateral for the down payment.

Residential Mortgages in Panama

March 2010

Right now, Panama’s mortgage market is very favorable to consumers. 29 banks are offering preferential interest rates, up to 98% 30 year financing, waiving commissions and free appraisals.

A new real estate wave is bringing the market back to life, although without the same strength in all areas. The neighborhoods of San Francisco and Bellavista are currently seeing the most growth in construction.