az Alert | Law Creating a Special Guarantee Fund for Construction Companies and Housing Finance is Published

The law was enacted by the President of the Republic as part of the economic security measures in support of the real estate and construction industry.

On February 13, 2023, Law No. 21,543 was published in the Diario Oficial, creating a Special Guarantee Fund for the construction and purchase of first homes.

It is important to highlight that this fund will be of a permanent nature through a fiscal contribution equivalent to USD$50,000,000, allowing to guarantee credits and other financing mechanisms.

In this way, the initiative will generate two programs directly focused on supporting the construction and real estate industry and providing relief to families seeking to purchase their first home.

The guarantees of this law seek to incentivize both supply, through a subsidy aimed at companies in the real estate and construction sector with annual net sales over 100.000 UF (and not exceeding 1.000.000 UF), and demand through a State Guarantee of up to 10% of the value for the acquisition of first homes (whose value is less than 4.500 UF).

For more information on these topics, please contact our group azRealEstate:

Álvaro Rosenblut | Partner |

Valentina Palma | Associate |

Raimundo Busquet | Associate |

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