Colombia housing officials urge subsidy reactivation for 45,000 families

Bogotá Councilwoman Sandra Forero has formally requested the Colombian government to redesign its housing policy to assist approximately 45,000 families affected by the suspension of the ‘Mi Casa Ya’ program. The construction sector has faced twelve consecutive quarters of economic contraction, leaving many potential buyers unable to complete down payments or secure mortgage closures.

The proposed roadmap suggests transforming the subsidy scheme into a more progressive and efficient model. Key recommendations include coordinating subsidies from family compensation funds with interest rate coverage, utilizing the National Savings Fund (FNA) to promote savings, and providing guarantees through the National Guarantee Fund to help informal workers and low-income households access bank financing.