Signs of life in Salvador construction sector
Monday, December 19, 2011
Rebuilding the construction industry in El Salvador has been slow, but the sector is showing signs of life, mainly in the social housing segment.
For 2012, the sector expects an investment of nearly $1 billion by the public sector, much of it in the form of low-cost loans to buyers, made by the Social Housing Fund (Fondo Social de Vivienda).
The sector overall projects 4.6% growth in housing starts, compared to last year. This will be the first time in four years that the construction industry has had more starts, than in the previous year.
This year, credits for subsidized housing increased by 15% over 2010, but are still a third lower than they were in 2008, when El Salvador experienced a general economic slowdown.
- Skilled and unskilled workers