Monterrey, NL. For sale of new home, there was a national average growth of 1.6%, however the leading state was New Lion, with a growth of 8.4% from January to June 2021 compared to the same period last year and a good end of the year is expected, he told The Economist, Jorge Paredes Guerra, president of Realty World México.
“If we see the numbers of the Real Estate Monitor Report, there was no significant drop in home sales in any of the segments: during the lockdown, people had open the Infonavit, banks, public registries and cadastres were adapted, people continued to buy ”, explained the manager.
He added that the Bank of Mexico decided a favorable policy, because at the time the confinement was decreed by the Covid-19, interest rates fell and that favored the acquisition of mortgage credits.
In the used housing there was an important growth, 29.4% at the national level, during the first semester of this year. However, the segments with the highest increase were residential housing, with a value between 3 million 192,000 pesos and 6 million 376,000 pesos, and the residential housing plus with a value greater than 6 million 380,000 pesos.
“It was a haven for the investors, saw the opportunity to invest, because in the Bank they were giving them 2% or 3% for their financial investments, While in the housing sector the lowest yield is around 6% per annum, apart from the capital gain”, Emphasized the manager.
On New Lion The growth of residential housing from January to June of this year it was 79.5%, “it is something out of series, it had never been seen,” he stressed.
Growth expectations
Paredes Guerra estimated that this year the sale of housing will close well, because the Organization for Economic Cooperation and Development (OECD) increased the forecast for growth of the economy to 6.3%, this coincides with the reopening of face-to-face classes, which will help balance the production chain, therefore it is expected “that next year will be as good as this one.”
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Reference-www.eleconomista.com.mx