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Financing for Social Housing

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Financing for Social Housing

The Panamanian government issued a decree to raise from $60,000 to $70,000, the maximum price for a home to apply to the Solidarity Fund contribution.

Monday, August 3, 2020

Through this norm for the zone code RBS (Residencial Bono Solidario), the sale price for the housing unit and the lot cannot exceed the sum of $70,000 at the national level. Previously it was $60 thousand, for some provincial capitals, reported the Ministry of Housing and Land Management.

You may be interested in "Residential Construction: $8 Billion Investment"

According to Executive Decree 306, published in the Official Journal on July 31, 2020, the economic contribution of the Housing Solidarity Fund will be granted to those families whose ordinary monthly income does not exceed $2,000 and considers family members to be relatives up to the third degree of consanguinity corresponding to that of the family itself and the first degree of affinity of the spouse. Previously, the family income was $1,200 and until recently it had been set at $1,500 per month.

The official statement adds that "... The new rule determines that resolutions issued before January 1, 2019, will have until December 31, 2020, to submit the public document, which records the registration in the Public Registry of the property in favor of the beneficiary, otherwise, will be annulled."

According to this amendment, the Miviot program will be effective until June 30, 2024.

See Executive Decree 306.



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