Home Expo (Expo Vivienda) will be held this weekend, Saturday June 19th and Sunday June 20th at the Crowne Plaza Convention Centre in Managua and will be open to the public from 10 a.m. to 7 pm.
Visitors to the Home Expo will be able to talk to representatives from about 40 residential projects, condominiums and subdivisions as well as all of the commercial banks.
Suppliers of construction materials for housing will also be represented as will social housing, offered at special rates and deposits in line with the Institute of Urban and Rural Housing.
A Positive First Quarter – 2021
CADUR reports that approximately 750 new homes have been built in the first four months of 2021.
Félix Baltodano, President of CADUR commented that “A big step has been the reactivation of home mortgage credit by the commercial banks of the country with historically low interest rates, some as low as 9%”.
The national banks have also made adjustments to the deposit required to purchase a home. Previously that was up to 30% of the value of the home, however, some banks now have reduced that deposit to 15% with payment terms spread over 20 to 25 years.
Pacific Region is the Most Active
CADUR members are breaking ground on construction and development of new housing projects in nine different departments of the country; Managua, Jinotepe, Chinandega, Río San Juan, León, Rivas, Granada, Matagalpa and Chontales.
The goal of the developers in 2021 is the construction of more than three thousand homes and the continued development of 30 new urban social interest projects that began in 2020 and will continue until 2023.
“Other urban projects in the second and third phases are in the middle-high priced segment of the market and are situated mainly in Managua and Rivas (San Juan del Sur) where the real estate market is beginning to recover” said Baltodano.
This is the second Home Expo of 2021 put on by The Nicaraguan Chamber of Developers (CADUR), the non-profit association that represents the main developers in Nicaragua.
The first Expo Vivienda was held in early March at the same facility and was pronounced a success with 50 businesses from or connected to the home construction sector joined financial institutions to show their products.
