‘Interest rate subsidies for buying housing do not pose any risk’: Minvivienda

‘Interest rate subsidies for buying housing do not pose any risk’: Minvivienda
‘Interest rate subsidies for buying housing do not pose any risk’: Minvivienda

PThat is why Camacol has warned on several occasions that 17,000 interest rate hedges are needed, which could affect the delivery of subsidies for purchasing housing, Minister Catalina Velasco assured that these coverages do not have any risk.

According to the criteria of

She explains that there is sufficient interest rate coverage for this year and those required for 2025 are being processed. In addition, the Minister of Housing highlighted that In 2024, 26,487 Mi Casa Ya subsidies have been delivered.

What is the balance of home sales this year?

The bottom line is that the housing sector is progressing very well.

At the end of the first half of the year, the housing sector is progressing very well. According to Galería Inmobiliaria, In June, sales increased by 41.6 percent compared to the same month last year and sales of social interest housing (VIS) alone rose by 86.3 percent. On average for 2024, the increase is 7 percent.

This is for several reasons: inflation is falling and so are interest rates. Bancolombia and Davivienda are in a rate war And this shows that there is a very good intention among the entire financial sector to support housing.

There is no doubt that the pandemic storm, which was so difficult for the entire economy, is over. The most important variable, which is interest rates, has already stabilized.

Minister of Housing, Catalina Velasco.

Photo:Ministry of Housing

Will new banks join this reduction in housing interest rates?

I loved the competition between Davivienda and Bancolombia and I encourage this rate war. I hope all the other banks realize that it is the best time to buy a home. and that rate competition only benefits families.

The National Savings Fund has had good rates for a long time, especially for VIPs. So, welcome to the rate war so that families can buy homes and so that mortgage payments can go down.

How many Mi Casa Ya subsidies have been delivered?

The coverages do not have any risk because there are enough for this year

In the budget cuts we fully protected Mi Casa Ya, not a single subsidy was removed. This week, 1,240 subsidies were allocated under the Mi Casa Ya program, with an investment of 41.301 billion pesos.

The balance sheet shows that In 2024, 26,487 subsidies have been delivered for 873.673 billion pesos. We have not missed a single subsidy, they are being allocated at a wonderful pace.

The coverages do not have any risk because there are enough for this year and we are completing the paperwork for the coverage that must be granted next year. I am optimistic because all the figures are improving.

Photo:Ministry of Housing

So there is no risk that subsidies will run out in August, as Camacol warned?

There is no reason to say that subsidies will run out.

We have coverage for the whole year. We did not cut coverage to send a message of calm, even though we knew we had some room to cut.

The procedure for requesting coverage, which is based on the Medium-Term Expenditure Framework formulated by the Ministry of Finance and the DNP in the middle of the year, will be processed in a regular manner.

Every year the same procedure is done, it is known in the sector and There is no reason to say that the subsidies will run out. The only reason I see is a political factor against the Government that makes us think that we will not have coverage.

I want to give a message to the financial sector and construction entrepreneurs. and the fact is that we have coverage this year, and the coverage management process is done the same every year.

Saying that there are doubts or anxiety is intended to harm the sector and there is no reason to create doubts or anxiety regarding this issue. This year’s coverage is available and next year’s coverage is being processed as is done every year.

In which initiatives were budget cuts made to comply with the Ministry of Finance’s order?

Us We took advantage of the situation of cuts to use the figure of future validity in water projects. We did not stop doing a single project, but we will use the resources that were available this year in 2025.

Projects are starting in the same way and water resources are postponed, but not cut back.

In terms of housing, Not a single peso from Mi Casa Ya was cut, every Friday we make subsidy allocations And we have not missed a single one. There is stability, there is availability and throughout this year we will have subsidies because we see a trend and we know how to project the subsidies month by month.


How is the rural housing program progressing?

It was really a celebration because the families had been waiting for their homes for a long time.

Through the rural housing program we have 9,300 homes under construction, Of these, 2,265 have been delivered. In Chocó we have a project of 320 homes that are being built in the municipalities of Atrato, Medio Atrato, Medio Baudó, Bajo Baudó and Litoral del San Juan.

On Friday we delivered the first 23 homes in the Doña Josefa district, municipality of Atrato. It was really a celebration because the families had been waiting for their homes for a long time.

The investment is 26 billion pesos, and the execution is in charge of Comfachocó. There is also a contribution from the Departmental Government. In August we will make new deliveries.

What are the figures for the Cambia Mi Casa programme?

We have invested 1.4 billion pesos and 131,000 housing improvements are underway, Of which more than 31,000 are being managed by community organizations.

Last week we made a distribution to capital cities and governorates and we are making agreements to work hand in hand with the governors and mayors. The sowing is done.


How is the public competition progressing to structure the definitive solution for drinking water in La Guajira?

We have received over 300 comments from nearly 38 companies, most of them international. This gives us peace of mind because of the interest in the project and because companies have given us comments, which guarantees the greatest technical rigor for such an important project.

Once all the questions we received have been answered and any necessary adjustments have been made, the final specifications and a formal timeline of the process will be published.

Will you leave the Government as part of the changes that President Gustavo Petro is making?

Only he knows that and I work every day without rest. As a minister or former minister, Catalina Velasco will be here for a long time. I have been doing this job for decades and I will always be here.

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