Colombian Housing Minister Germán Vargas said that starting in April on average some 2.000 homes will be delivered weekly under the “free home” program in Soledad and Barranquilla in the Atlantic coast.

The plan, according to Vargas, is to deliver some 8.000 homes a month reaching the goal of delivery 90% of the homes under the program by year’s end.

The government has also announced a subsidy project for an additional 100.000 homes, though they will not be 100% free, they will have advantegous installment payments tailored to those who earn less than the minimum wage.

“For those earning below minimum wage can buy a home without compromising more than 30% of their income. The maximum monthly payment would not be more than 215.000 pesos…the objective of the government is to reach out to all sectors, the most poor and those that follow”, said the Housing Minister.

Source: Caracol Radio