The Varela administration is considering improving incentives granted to finance the construction and purchase of homes priced between $80,000 and $120,000.

The government plans to build 175 thousand houses in 2017, of which 100,000 correspond to the ´Roofs of Hope program’, 45,000 to the ‘Bono Solidario’ program and 30,000 to the ‘preferential interest rate‘.

President Varela said in a statement: “Houses costing  between $80,000 and $120,000 receive a lower level of incentives than other types of housing, we’ll probably expand the level of incentives in that range, which is a market which includes the professional middle class of the country,” said the ruler.

From a statement issued by the Presidency:

Between the public and private sector 175,000 homes will be built in the country, of these 100,000 homes are part of the ‘Roof´s of Hope’ program, 45 000 are in the ‘Bono Solidario’ program and 30,000 are in the line of preferential interest ” reaffirmed the President of the Republic, Juan Carlos Varela.

The president’s statements were given after a meeting with members of the Panamanian Chamber of Construction (Capac), the National Council of Housing Promoters (Convivienda), the Panamanian Association of Brokers and Real Estate Agents (Acobir).