The housing industry could start to recover, says Canadevi

MONTERREY – The dynamism of the housing industry could begin to recover in the second half of the year if more incentives by the federal government are specified to give certainty to future investment, said Juan Paulo Puente, director of the National Chamber of Industry of Development and Promotion of Housing (Canadevi) Nuevo León.

As a result of the decrease in subsidies received through the National Housing Commission, which went from US$358 million in 2018 to US$20 million this year, there was a decrease in the placement of social housing of the entity that comes from the Institute of the National Housing Fund for Workers (Infonavit).

“At the end of the first semester, Infonavit housing has shown a decrease of 14% over the same period last year; however, used housing and mortgage credit have shown improvement,” said Paulo Puente.

According to data from Infonavit, as of July 21 of this year, Nuevo León formalized 34,112 credits, representing an advance of 52.87% with respect to the annual goal of 64,522 credits.

The entity continues to be a leader in housing replacement nationwide, followed by the state of Mexico, with 22,785 formalized loans, and Chihuahua, with 22,258.

Source: El Economista