At the end of 2020, BIM closed with 6 billion pesos in various support, equivalent to 400 thousand loans.

In a new economic and social dynamic that occurred after the Covid-19 crisis, it is currently allowing us to see a growth in the real estate market in the main cities of the country.

The large buildings that are being built in the most important metropolises such as Mexico City, Monterrey, Guadalajara and Puebla, are proof of a reactivation in the real estate construction sector.

Of interest: Infonavit contemplates more schemes to cover demand for housing

According to data from the Single Housing Registry (RUV), the real estate supply, only in the period from 2015 to 2020 was 220,900 homes, which is equivalent to the average of 44,200 on average per year. Comparatively only at the end of July 2021, a total of 95 thousand 600 built homes were registered.

These results have to do with the way in which various financial entities, including Banco Inmobiliario Mexicano (BIM), streamlined their products and services for developers to push the market.

One of these products is Crédito Puente, being one of the financing most used by companies engaged in construction within the real estate sector.

It is a medium-term loan granted by financial intermediaries to housing developers so that they can use them in the construction of housing complexes, commercial equipment and / or improvement of housing groups.

Check here: Public credit has favored the performance of the housing sector as a result of the pandemic

For years, the Mexican Real Estate Bank has positioned itself as a leader within the financial institutions that grant this instrument.

Proof of this is that during the first months of the pandemic, the institution signed 94 new loans for an amount of 2,200 million pesos, and at the end of 2020, it closed with an amount of 6 billion pesos, equivalent to 400 thousand credits.

Another benefit that accompanies the BIM bridge loan is financing of up to 65% of the project value for a loan term of up to 42 months.

This mechanism does not have a prepayment penalty and considers the 15 site supervision visits carried out during construction at no additional cost.

In Solili you can check available departments in Narvarte, Doctors and Center

Original note