construction of housing for workers

Without a doubt, industrial real estate development will be the big boom we have all been waiting for. near shore However, leave it to the Mexican economy, housing development will also go hand in hand with industrial development, trying to ensure that workers on new projects have decent places to live.

According to data from the Mexican Real Estate Bank (BIM), a total of 13,244 million pesos were registered in credit signatures in 2023 and a total of 9,876 million pesos were distributed to real estate developers, representing an increase of 17% compared to 2022. Over the past 5 years, the portfolio has grown 63% with $6,042 million pesos placed and distributed.

It is noteworthy that BIM operates more than 2,693 trusts, and the total collected in trust services at the end of 2023 was $66,971 million pesos, an annual increase of 34.8% compared to 2022 and more than 150% compared to $26,538 million. Pesos entered in 2019.

According to Rodrigo Padilla Quiroz, General Director of BIM, by 2024, the bank anticipates granting approximately 14.2 billion pesos in bridge credits to finance the construction. 15,000 houses.

He explained that “the challenge remains the absence of building affordable housing, because this is a deep market, and as an industry we have a social responsibility to meet that demand where the majority of the population is located.”

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Carlos Martínez, Director General of INFONAVIT, commented that there is great demand for housing for workers, especially in areas of new investment and high industrial growth, and that the new vehicles that the institute has built over the past three years will provide workers with those homes. Which is an area of ​​opportunity for real estate developers.

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“Employees are looking to buy a home with better locations, services and better connectivity,” said the director of Infovit. What the real estate industry should offer is connectivity, nearby services and a city with housing, because consumers want to have lots of satisfied people who make it possible to live a life in a community, a life whose It does not require long travel time. Their jobs and “they can supervise their children.”

Martínez said, “At Infonavit we are financing about 70 development plans in the country, choosing municipalities where there are investment announcements and strategic projects such as the Mayan Train, the Interoceanic Train and areas where there is high industrial development. “

The manager highlighted that with the reform of the Retirement Savings Law of 2020 and its implementation in 2021, it opened the opportunity to create new products to favor the placement of credits for workers. New products include: loans for land acquisition, construction, access for those who no longer contribute, restructuring of mortgage loans to get better rates and much more.

Going forward, the scenario of a cut in the reference interest rate in Mexico could benefit workers so that they can contract loans with lower interest.

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