Given the upward trend in interest rates, at the moment we do not see a considerable increase in interest rates. mortgage creditsbecause there is demand and the construction of new home is not going at the pace of what the market requires, which, in turn, is a factor that pushes pricesaccording to perspectives from the firm Kreo Global.
Francisco Yáñez, general director of Kreo Global, said that the limited inventory is a factor that causes greater pressure in the mortgage segmenteven above the increase in interest rate.
“The housing offer in Mexico it is very limited, it has been declining, it has not been built new homethis pushes the prices because there is much more demand than supply and because of the Covid, the developers have not resumed the pace they were bringing,” said the director of the wealth management consulting firm.
“(But) The cups reals given by banks are still in single digits and are still attractive”.
According to the Index of Prices of Sociedad Hipotecaria Federal, in the first quarter of 2022 the appreciation of said indicator was 7.7%, an increase not observed for that period since 2019, when it was 9 percent.
Eugenio Klee, CEO of Kreo Asesores, commented that since the arrival of Covid-19 in Mexico the mortgage market It has registered a series of contrasts that went from the minimum figures in 2020 to the maximum placed in 2021, while this 2022 is perceived as one of stability in certain indicators.
On the other hand, for the specialist, people noticed that traditional investments such as savings accounts were giving less and less return, which led people to make real estate purchases, which has helped the market to maintain stable in its financial cost.
“The banks make a great effort to continue serving customers (…) The human capacity in the mortgage creditI would dare to say that it is the best in history”, pointed out the owner of Kreo Asesores.
Only in what corresponds to the placement of last year, Kreo Asesores closed with a record of 18,000 million pesos.
What the pandemic left
For people who rented near the main work centers, the pandemic gave them the opportunity to work from outside the city, which opened up new real estate opportunities, said Eugenio Klee.
In other cases, people decided to seek households with available work spaces, while after passing the most critical stage, workers no longer want to return to the previous model and prefer to opt for flexible schemes.
“There are also many companies that are beginning to see that people’s productivity is much higher working this way, working from home, people who spent two and a half hours, three hours to get to work and return, are more productive at home ”, considered Eugenio Klee.
For Francisco Yáñez, after the first stage of the pandemic, what is a fact is that there was a process of mobility in all aspects involving the real estate and finance sectors.
“Mobility changed, of people, of capital, of various things, the Covid brought us a movement of money, of people, of companies, offices, which has generated these opportunities, within Mexico, but also this idea that you are no longer so tied to your city and area”, added the manager.
Kreo launches global division
Kreo Asesores, a real estate advisory firm, announced the independence of its subsidiary Kreo Global, which offers financial advisory services to Mexican families looking to invest, buy living placemove your business out of the country or simply open a savings account abroad.
Eugenio Klee explained that with this new company they seek to attend to the needs of patrimonial and financial services that they observed among their clients.
Currently, the subsidiary has operations in the United States, Canada, Spain and Portugal, while it already has established offices in several cities.
· United States: San Antonio, Texas, Florida and California
Canada: Vancouver, Toronto
· Spain: Seville
“(Offer) services that can be banking, from opening an account to credit, business services,” Klee explained.
“We are a company that is adding property and financial services to people who want to have a loan and need paperwork abroad.”
Although there are currently companies in Mexico that provide similar services, such as real estate investment or investment advice outside the country, for Francisco Yañez, the difference is to provide a kind of “department store” of financial services, with a personalized approach. to each profile.
“It is a hub, a market place of patrimonial services for Mexicans abroad”, explained the CEO of Kreo Global.
According to the directors, this service proposal is focused on families with incomes close to 80,000 pesos per month and savings of between one and two million pesos, who seek alternatives to second house or investment abroad.