The president of the Peruvian Chamber of Construction (Capeco), Lelio Balarezo reported that home sales in the country fell 20% in the first half of the year compared to the same period 2013.
He explained that this is due to the rules issued both the Central Bank and the Superintendency of Banking and Insurance (SBS) that tightened credit, so access to one is much harder.
However, expectations are optimistic for the second half in which it is expected that home sales resumes.
He said the growth of the sector for this year would be explained by a digit "red tape and permits" in the country which impacts the cessation of work in the sector.
He said last week Capeco submitted a proposal to the Executive to promote the construction of social housing by the private sector. It is proposed that the government provide an incentive to build at least 50,000 homes and increase subsidies.
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