Honduras Housing Deficit

Authorities of the Honduran Chamber of the Construction Industry (Cámara Hondureña de la Industria de la Construcción – CHICO), reported that the housing deficit in Honduras has reached one million dwellings, 60 percent of which need to be repaired, and the remaining 40 percent need to be built.

The Vice-President of CHICO, Óscar Calona, specified that some 600,000 homes require repairs to “put them to use according to the current needs of the population”, and 400,000 houses need to be built. He explained that to eliminate the deficit, it would require an estimated investment of 100 billion lempiras.

honduras housing deficit

A makeshift home in Honduras.

Calona lamented that, “the biggest problem to continue with the construction of homes is the lack of funds over the long term.”

CHICO therefore has requested that the Honduran government take steps to seek the funds required in this area because there is a mora for investment in infrastructure.

He pointed out that 10% of the gross domestic product (GDP) should be being invested in the infrastructure of the country, with a variance of between 3 and 4%.

The Vice-President of CHICO, said that due to the economic crisis in the country, housing construction has dropped. This year, they will build 10 thousand homes, which is 50 percent less than was built the previous year, which was 20 thousand.

According to the Honduras National Institute of Statistics (Instituto Nacional de Estadistica de Honduras – INE) data, there are one million, 704 thousand, 883 houses in the country.

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