Economy
Those families that aim to buy a house are increasingly facing more obstacles. The higher costs, the deterioration of purchasing power and the slowdown in the construction of housing units are limiting the ability to buy a new house.

The supply of housing units has fallen and the situation has become more critical each quarter. The number of completed housing units has declined whereas the number of developments under construction that have been halted is increasing.

According to private and public sector data, in the second quarter of the year, the construction of 26,679 housing units with building permits was halted. This represents an 11.6 percent increase compared to 2009, when the construction of 23,909 housing units was stopped.

Although these units had already construction permits, during the April to June period the building works were halted.

Since mid-2009, housing construction has been hit by the prohibition to charge the Consumer Price Index in presale contracts, lower investment and a shortage of inputs.

Some developers have decided to maintain their projects but at a lower rate of completion. However, others have not been able to continue the construction of units.

From April to June, the private sector stopped the construction of 19,883 housing units whereas the public sector halted the building of 6,796 housing units.

marmas@eluniversal.com

Translated by Gerardo Cárdenas

Mayela Armas
EL UNIVERSAL