The government maintains the position of not raising the price ceiling of $20,000, saying that it would not benefit low income families.
"The Special Law for the Promotion of Construction, Housing and Access to Affordable Housing defines as such those ranging in size from 36 to 60 square meters, but now the 60 square meters homes, because of rising costs of construction materials, are being sold between $22,000 and $27,000, falling outside the remit of the subsidy", reported Laprensa.com.ni.
The president of the Nicaraguan Chamber of Developers, Alberto Atha said that of all the homes sold in 2011, 70% did not benefit from being under this law.
Source: laprensa.com.ni
More on this topic
October 2011
They were built to be sold using government subsidies, but an increase in the cost of building materials has pushed their real price above the limit established by the law.
The Government is maintaining its position of not raising the price ceiling of $20 000, stating that this would not benefit poor families, but recognizes that it must find a solution to the problem.
October 2011
The rising costs of materials and the government's refusal to raise the ceiling price on affordable housing could derail the National Housing Plan.
The Government is maintaining its position of not raising the ceiling price of $20 000 to $26,500, saying that would not benefit low income families.
May 2011
The Government will raise the ceiling of the subsidy value to include homes whose value is less than $30 thousand.
Currently the subsidy is granted for home purchases of less than 60 square meters and that are priced at less than $20 thousand.
Lucia Navas writes in his article for Laprensa.com.ni, "The business chambers argue that the value of building houses in the country has increased in general as a result of the price of construction materials reporting strong increases, therefore houses worth less than $20 000 no longer exist. "
March 2011
The changes in criteria as to what is consider social housing has contributed to the development of the sector.
The state subsidy, the increase in the ceiling of $ 10 thousand to $ 20 thousand for housing to be considered of social interest and the fact the Nicaraguan Institute of Social Security (INSS) made funds available for banks were factors which led to a recovery in the industry," said Alfonso Silva, vice president of the Nicaragua House Builders (Cadur).
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