During the crisis that arose in the pandemic, the portfolio of financial entities that support the housing sector performed much better than in previous years, as Serfimex mentioned in a statement.

The institutions offered adequate support to those developers who had not fully recovered. Such is the case of the Federal Mortgage Society (SHF), commercial banks and Sofomes.

The SHF implemented in 2020 a strategy that allowed it to maintain operations in the housing sector, supporting with credit and liquidity, financing during 2020 56 thousand 673 million pesos in induced credit and construction credit.

For the Sofomes, all the developments that want to be successful will require lines of credit established mainly in bridge loans.

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Adequate funding of your projects will be an essential part of an orderly economic reactivation that reduces the impacts on market prices.

José Achar, general director of Serfimex, considered that there are several projects that are beginning to be reactivated, and in turn, these projects continue to generate an increase in demand in the placement of bridge loans.

"In 2022 we intend to grow by 150% the client portfolio and at least 200% the amount of loans placed," he added.

Before the pandemic, the central bank maintained its interest rate at 7%, which fell to 4% in February 2021. In the second half of 2021, a new upward cycle is taking place, reaching an annual rate of 5%.

This scenario is accompanied by a 10% increase in the price of construction materials, where steel rose up to 60%, causing the cost of housing construction between 6 and 8 percent.

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This was a challenge for developers, both to buy materials and to find adequate funding lines to face the consequences of the reactivation of their operations.

The importance of the housing sector in the Mexican economy is evident since it represents 10% of the country's GDP, reported the financial institution Serfimex, being the second largest generator of jobs in Mexico, only behind tourism, according to Datatur data. .

Although they have not recovered to the levels of 2019, the industry has managed to be resilient in the face of the pandemic, this due to lower costs of mortgage financing and the synchronization between supply and demand in the market

A possible rise in rates is foreseen due to inflationary pressures, with expectations that at the end of the year could exceed 7 percent.

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