The government has set a small goal of less than 27,000 houses built annually by 2025. Credit remains a luxury for a minority of the population.
The access to a own home it continues to be one of the main social and economic debts in Ecuador. Each year, 87,000 new families, but even in the best of times, only a maximum of 40,000 are built annually houses.
That capacity was seriously diminished during the first hit of the pandemic. In 2020, 20,000 households; and the 2021 recovery increased production to 30,000.
In this context, it is increasingly urgent that, both from the Central Government and the municipalities, take effective measures so that the promotion of construction sector become a national priority.
No clear policies
Joan Proaño, spokesperson for Constructores Positiva, commented that there are no clear policies so that more Ecuadorians can be subject to credit and get financing. In addition, the Guillermo Lasso administration has opted for a small goal for its public programs of living place.
“The Government has set a goal of 106,000 houses or housing units until 2025, that is, around 26,500 per year. This plan is achievable, it is not demagogic or populist; but that is enough to reduce the great housing deficit in the country, ”he said.
That deficit, which has been dragging on for many years, is at least 600,000 houses. The promises of the two previous governments did not even reach a 30% fulfillment, which has deepened the problems.
Credit is a luxury for few
It is not only necessary to rethink the goals in public programs, but also to give a total change to the policies of access to credit Y interest rates.
Nowadays, a family You need an income of at least $ 854 per month to be able to apply for financing. And, the loans subsidized by the Government do not reach even 30% of the households that seek House own.
Ana Lucía Ruiz, construction company, stressed that, beyond presidential speeches, no improvement is seen in the conditions of the loans in all the Finance system.
“Subsidized rates of between 4.99% and 5% only reach a minority. Even in the Biess they are betting on the credits consumption before mortgage”, He specified.
For every 1% that the interest rate, people could borrow at least 9% more. In other words, if the cost is reduced, more Ecuadorians would be in a position to finance the home they need.
“A call is made to the banks, but then the reduction of the reference or maximum rates by the Central Bank was irrelevant, almost nil”Proaño lamented.
Likewise, the minimum requirements of the entry that must be paid must also be reduced. Banks ask that 30% of the value of the house be disbursed to access financing, that is unpayable for most citizens. (JS)
En 2021, se registró un 23,27% más de reservas de viviendas en comparación a 2020. Sin embargo, ese nivel todavía es 11,3% menor a 2019.
Antes de la pandemia, el sector de la construcción generaba más de 237.000 empleos adecuados. El número cayó a 167.000 en 2020 y se recuperó a 205.000 en 2021.
Desde 2018, la concesión de préstamos hipotecarios, a través del Biess, pasó de $2.020 millones a $1.750 millones
Less paperwork and more land
The construction sector assures that concrete actions are also needed to reduce the paperwork to obtain permits and licenses in the municipalities. Likewise, the hundreds of abandoned or unused land throughout the country must be put into production.
A good part of these lands are owned by the Ministry of Housing, through Real Estate, and by the municipalities themselves. Therefore, preferential prices or mechanisms such as exchange could be applied to go to housing programs.
That is, the properties are given in exchange for the construction of a certain number of houses.
Biess seeks higher profitability at the cost of fewer mortgages
For 2022, the Biess has budgeted that for every $ 1 in mortgage loans, $ 5 in unsecured loans will be given. The bet is to generate more income from consumer financing, and it is even encouraged with a reduction from 14% to 11% in the interest rate.
On the other hand, there will be stricter requirements for housing financing, and it is not even planned to reduce the time for its concession (at least 160 days).
Thus, profitability is supported by fewer mortgage loans; instead of seeking solutions to recover the money invested in stopped hydroelectric plants, or in trusts that do not give results.
In recent years, the Biees went from having 65% of the share in the real estate financing market, to not exceeding 35%.
