MinVivienda announced the new strategy of the Mi Casa Ya program for VIP properties.
The housing construction sector in Colombia is going through a serious crisis, as shown by the figures and as can be seen at first glance in all the cities and towns of the country. The decrease in this industry, the largest generator of employment and driver of commerce and the economy in general, is evident.
A little more than two months before the end of the year, the Petro Government announces that it will invest $5.9 billion of the 2024 General Budget of the Nation in the housing sector, which represents an increase in the area by 19% compared to 2023.
The announcement was made by the director of the National Planning Department (DNP), Jorge Iván González, at the annual Congress of the Colombian Chamber of Construction (Camacol) in Barranquilla.
According to the Government, this item for the housing sector in 2024 is the highest in the history of the country and its importance lies in the fact that the construction of housing solutions is a driver of the country’s economic activity, due to the impact it generates and its linkage with other sectors of national production.
The director of the DNP added that, if the housing item in 2024 is articulated with the investment of the territorial entities through the concurrence of resources, the total public investment would be $224.5 billion, which results from adding the $99.4 billions of the General Budget of the Nation (PGN) approved for next year; the resources of the General Participation System ($70.5 billion); those of the General Royalties System ($14.1 billion) and the $40.1 billion of the territories.
He reiterated the Government’s goal of concluding the four-year period with 400,000 housing improvements.
Regarding housing subsidies, Jorge Iván González explained that the goal is to allocate 200 thousand VIS subsidies (50 thousand each year) during the current national administration, to exceed the historical average of 32 thousand subsidies assigned annually.
New strategy of Mi Casa Ya
On the other hand, the Minister of Housing, Catalina Velasco, announced at the same Camacol event the new strategy of the Mi Casa Ya program for families who are going to acquire a priority interest home (VIP).
From now on, the Ministry will make a reserve for these families that allows them to do business or acquire a pre-sale property to ensure the subsidy. That is, they must have a defined project and stage and meet the requirements of the MI Casa Ya program for the allocation of the subsidy.
This new model will begin to be applied in 2024 and will be valid for up to 24 months after having the pre-assignment. This is an alternative to benefit families and the sector, through the pre-sales scheme, giving greater certainty and promoting the construction of VIPs.
Families interested in accessing the benefit must take into account two conditions: meet the requirements of Mi Casa Ya, at the time of pre-assignment and assignment, and that the selected VIP project is completed within the validity period of the pre-assignment ( 2025 and 2026).