Tegucigalpa, the capital city of Honduras, has the highest number of landslides recorded in the country. In a previous study, landslides were found to be mainly concentrated in areas with colluvium and residual soils. The present study focused on assessing the physical vulnerability of houses and the risk linked to landslides in these types of soils. As an input for this assessment, the study generated landslide risk vulnerability functions based on empirical data. The study's findings suggest that the estimated Annual Average Losses associated with landslides in this region is USD 7.26 million. Moreover, the study developed a novel approach for the spatial and temporal estimation of landslide hazard probability, which overcomes some of the limitations identified in previous landslide risk assessment studies.