Opportunities such as low interest rates and programs offered by the federal government and banking institutions are a great advantage that makes it easier to buy a home today, where young people become a large part of active buyers.

This situation is analyzed by 5 institutions where the Mexican Association of Real Estate Professionals (AMPI), the Association of Real Estate Developers (ADI), the National Chamber of the Housing Development and Promotion Industry (Canadevi) and the Mexican Institute of Smart Cities participate. Sustainable and Sustainable (IMCISS).

AMPI points out that Covid-19 represents a before and after that makes real estate professionals, based on technology, become highly disruptive. The demand for housing has been boosted as evidenced by the 9% increase in the first quarter of 2021 alone, according to Infonavit figures.

Young people become part of active buyers, because they understand that today owning a home not only strengthens their assets, but can also become an asset with multiple uses such as an office or workplace.

Check here: They plan to build 40 thousand homes in CDMX in the next 12 months

The IMCISS highlights the growth that housing has had in the last 10 years, where it has grown at a rate of 1.8% per year This sector represents 6% of GDP and according to 2019 figures the spill generated 1 trillion 50 billion pesos in the Mexican economy.

In turn, it is the second fastest growing industry in the country and generates 2.5 million jobs. 

In 2021, a growth of 5 or 6% is expected, while Infonavit is 14% higher in new home mortgages, 28% plus existing home placement and Fovissste also goes above its goal.

The home has proven to be resilient in the face of the crisis, which confirms that it is a good time to buy a property.

ADI highlights that as of 2019 they registered a drop in residential demand that worsened in 2020 and the first part of 2021, particularly in the Mexico City market. However, cities such as Guadalajara, Monterrey and Puebla had fewer decreases.

Of interest: Conavi gives support of up to 90 thousand pesos to expand the home

Among those associated with ADI, CDMX groups around 60% of the total market it operates. For its part, the decision to start new projects has been delayed and the reactivation of new projects in the future is being analyzed, based on the absorption of current inventories.

The office segment has been the hardest hit during the pandemic due to the uncertainty of when and how the return of activities would be. Only CDMX has more than one and a half million square meters vacant, having about 70% of the national total. At the current date, an initial recovery is observed, where there is more certainty of when and how we are going to return.

In conclusion, they highlighted that in the future we must restore confidence to recover the economic environment, followed by the return of activity in the labor, school and housing markets. At this momentous moment we must convince the population to take the first steps to absorb housing, offices and schools.

The next two months are expected to see positive results for people to return to normality that does not distort their goals for progress, strength of spirit or quality of life.

In Solili you can check availability of apartments for sale below 2.5 million pesos

Original note