Real Estate
in Central America
Thursday, February 2, 2012
Exhibitors from Central America, Canada and the United States will gather together in El Salvador for the International Fair ‘Construexpo 2012’.
2012 kicks off with 140 exhibitors at the Construexpo event which aims to forge alliances and synergies that will promote the growth of a vital sector of the Salvadoran economy.
Mario Rivera, president of the Salvadoran Chamber of Construction Industry (Casalco), said the industry "continues to recover very slowly," according to ElSalvador.com.
Tuesday, January 31, 2012
A proposal has been made to remove the Value Added Tax on transactions performed in the housing market.
To date, those buying a "used" home pay 12% in tax, which has discouraged the purchase and / or registration of properties.
Friday, January 27, 2012
New businesses will open in the Greater Metropolitan Area of San Jose in 2012, with spaces of between 4,000 and 100,000 square meters.
The stores identified are: Lagunilla, Torre 202, Plaza Carolina (stages 1 and 2), Plaza Tempo, Trivium Center, Plaza Lincoln, Paseo Plaza Santo Domingo and Metropolis, according to information provided by Danny Quiros, Market Intelligence Manager of Colliers International , a `real estate consulting firm.
Thursday, January 26, 2012
With the aim of fostering and promoting the sale of properties in the reverted areas, the Ministry of Economy and Finance will participate in Expo Inmobilia ACOBIR 2012.
A press release from the Ministry of Economy and Finanzas reads:
With the aim of fostering and promoting the sale of properties in the reverted areas, the Management Unit for Reverted Property at the Ministry of Economy and Finance (MEF) will participate in Expo Inmobilia ACOBIR 2012 from 1st to 5th February at the ATLAPA convention center .
Tuesday, January 17, 2012
The company has announced its withdrawal from the Peninsula Papagayo tourism project in the Guanacaste Province.
The company owned a "minority share" of the project.
Corporate Relations Director of Florida Ice & Farm CO. Inc. (Fifco), Gisela Sanchez, explained in a press release that: “‘In line with strategic thinking regarding controlling the projects in which the company invests, we will now have the advantage of having full control over the development of large lot in the northern sector of the Papagayo peninsula. "
Monday, January 16, 2012
The complex will be developed in a 300 hectare area, which was purchased by Tocumen SA for $109 million.
A press release from the Tourism Authority of Panama reads:
After completion of the North Terminal, the next projects planned by Tocumen are the airport city "Aeropolis" and the Dock and South Terminal, valued at approximately $750 million.
Friday, January 13, 2012
In 2011, house sales in El Salvador grew by 4%, and the industry is planning new campaigns to encourage home ownership.
Strengthening the housing market is a key item for the construction industry to consolidate the economic recovery of 4% recorded in 2011, noted the Salvadoran Chamber of Construction (CASALCO).
The union has decided to boost the campaign entitled “Your own home, wellbeing guaranteed” for six months.
Thursday, January 12, 2012
The fair will bring together companies in the construction credit and housing sectors, and will take place from 25th to 29th January.
More than one hundred companies are expected to attend and will offer their services and products in the Pedregal Events Center, Assumption of Belen, Heredia.
Monday, January 9, 2012
The economic and tourism boom has created an inordinate amount of investment in hotels, which is threatening to lower the occupancy rate to unsustainable levels.
The opening of more than 20 hotels has been announced for 2012, adding 6,000 rooms to the inventory offered by Panama, and representing an annual increase of 300% in the hotel supply, while the increase in the number of visitors to the country during 2011 grew by - 13%, which although significant, is far below what would be needed to keep up the hotel occupancy rate, which currently stands at 66%.
Friday, January 6, 2012
Construction industry representatives have asked the government to raise the ceiling applied to subsidies for the purchase of social housing.
The government maintains the position of not raising the price ceiling of $20,000, saying that it would not benefit low income families.
Thursday, January 5, 2012
Up to the third quarter of 2011, private construction grew by 28.8% according to the Central Bank of Nicaragua (BCN).
The BCN's report states:
Up to the third quarter of 2011, private construction recorded accelerated growth for the third consecutive time, the annual average going up by 28.8 percent (19.9% the previous quarter).This was the result of the dynamism observed in residential, service and trade buildings, while industrial buildings showed a lower rate of contraction from the previous quarter.
Wednesday, January 4, 2012
The Social Housing Fund (FSV in Spanish) plans to invest about $103 million in 2012 in some 6,300 loans, favoring the demand for new housing.
A FSV press release states:
The Social Housing Fund has significantly exceeded the lending figures in 2011 compared with the previous year, it is estimated that the increase will be about 14.5% in number and 8% in value compared to 2010.
Wednesday, January 4, 2012
The Reverted Property Unit of the MEF is to auction on 10 February 10 properties located in the provinces of Panama and Colon.
The starting value of the offers on properties located in the districts of Ancon, Albrook, Clayton and Balboa (Panama), and Arco Iris y Espinar (Colon), varies from $21,000 to $990,000.
Wednesday, January 4, 2012
President Martinelli announced that the maximum value for a property to be considered for the preferential interest rate will be increased to $120,000.
The measure must be passed in the National Assembly by amending the act, which is expected to happened very quickly.
A current limit of $80,000 has been established as the maximum value of homes that can be financed under the law, which allegedly has led to low-quality housing solutions being built to keep costs within that range.
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