Senate president calls affordable housing summit as home prices rise, sales slow
By THE STAR STAFF
Senate President Thomas Rivera Schatz and Senate Housing and Social Welfare Committee Chairwoman Jamie Barlucea Rodríguez have convened a multisector summit aimed at identifying solutions to Puerto Rico’s growing housing affordability challenges amid rising home prices, declining sales and continuing difficulties for prospective homeowners and renters.
The “Affordable Housing Multisector Meeting” will be held this Thursday in Leopoldo Figueroa Hall in the Capitol and will bring together government officials, private-sector representatives and nonprofit organizations to examine barriers to housing access and discuss potential policy responses.
The event comes as Puerto Rico faces mounting concerns over housing affordability. According to data cited by Senate leaders from the Office of the Commissioner of Financial Institutions, home sales fell about 7% during the first half of 2026 compared with the same period a year earlier, while average home prices increased 12.6%.
The combination of higher prices, limited inventory and financing obstacles has created challenges both for first-time homebuyers and families seeking affordable rental options.
“A family that works and fulfills its responsibilities should have real opportunities to obtain housing it can afford,” Rivera Schatz said. “We have to examine what is preventing construction, how we recover properties that are no longer in use, and what financing and assistance alternatives are available. This meeting seeks to bring together those with responsibility and experience in these processes to identify concrete solutions.”
The discussion is expected to focus heavily on strategies to increase the housing supply, including the recovery and reuse of vacant and abandoned properties, addressing title issues, streamlining permitting processes, financing options, and the construction and rehabilitation of homes.
Rivera Schatz also reiterated his interest in advancing legislative measures aimed at expanding housing opportunities for working and middle-income families. He noted that he is developing legislation that would preserve Puerto Rico’s opportunity zone map for local incentive purposes, directing benefits toward housing development for middle-income households while maintaining support for subsidized housing and other sectors of the market.
Barlucea Rodríguez said the forum will seek to address the diverse housing needs faced by Puerto Rico residents, ranging from young families seeking their first home to older adults and vulnerable populations requiring stable housing and support services.
“The need for housing has many faces: a couple looking for their first home, a working family that cannot find an affordable rental, or an older adult who needs a safe place to live,” Barlucea Rodríguez said. “We want those realities to be present in the discussion and for every sector to contribute alternatives to address them. Coordination among agencies, industry and community organizations is essential so assistance and services reach those who need them.”
In addition to homeownership and rental affordability, the summit will examine housing assistance programs for buyers and tenants, social-interest housing initiatives, and the particular challenges faced by homeless individuals, senior citizens, people with disabilities and survivors of gender-based violence.
Participants will include representatives from government agencies, financial institutions, the construction and real estate industries, professional organizations and nonprofit entities. Sens. Ángel Toledo López, Héctor Joaquín Sánchez Álvarez, Adrián González Costa and Luis Daniel Colón La Santa are also expected to participate.
Organizers said the meeting is intended to help stakeholders evaluate existing programs and services, share experiences and identify collaborative opportunities to expand access to affordable housing across Puerto Rico.
