Guatemalan Builders Claim for Housing Subsidies

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%.

"To accompany the proposed subsidy they suggest a law that would force employers to deduct a percentage from their workers in order to pay the housing loan," said Rodolfo Gandara, director of the National Association of Home Builders (Anacovi) to Prensalibre.com

"Meanwhile Jorge Montenegro, president of the Guatemalan Chamber of Construction, said that they are trying to institutionalize an interest rate subsidy proposal for financing with term times of 10 years, according to the value of the property."

Source: prensalibre.com

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