Housing subsidy programs evolve in Colombia and Mexico

In Colombia, the Mi Casa Ya program, established in 2015 to assist low and middle-income households with housing subsidies, has benefited approximately 368,000 homes over its decade of operation. The program reached a peak between 2021 and 2022, providing over 65,000 annual subsidies. However, since late 2022, the program has faced challenges including budgetary planning failures and new access criteria introduced via Decree 490 of 2023, which utilized the Sisbén IV system and new prioritization mechanisms.

In Mexico, the Viviendas para el Bienestar program aims to provide affordable housing to individuals earning between one and two minimum wages, prioritizing female heads of household, elderly individuals, indigenous people, and persons with disabilities. The government plans to construct 1.8 million homes under this initiative, with a maximum price of 630,000 pesos. These units typically consist of 60 square meters, including two bedrooms, one bathroom, a living-dining area, a kitchen, and a service area.

The Mexican Chamber of Construction Industry (CMIC) has noted that the 630,000 peso price cap is insufficient in major cities like Mexico City, Monterrey, and Guadalajara due to high land costs, suggesting a need for regional price adjustments.