The real estate market has responded better than other sectors to the Covid-19 pandemic because of the social interest that has emerged and how real estate professionals have bet on opportunities like technology to continue selling. Therefore, the forecast in 2022 is predicted to continue on the same track.
According to the President of the Mexican Association of Real Estate Professionals (AMPI), Pedro Fernández Martínez, the challenge still is strengthening the real estate sector completely while the COVID-19 pandemic continues.
He stated two things: one is that The National Workers’ Housing Fund Institute (Infonavit) delivered 8% more loans in January versus January 2020; and second, the “boom” in mortgage loans, which continues with plenty of benefits for customers, which could lead to a growth of 10% in general in the growth of this financing.
Also, he shared that 43% of those who buy a house belong to the millennial generation.
Regarding the trend of buying between new and used housing, he mentioned is now expected a greater push in the marketing of new housing. Although he acknowledged that income would continue to be a great tool since some are postponing their purchase decision because of the Covid-19 pandemic on their economic situation and due to the uncertainty generated by the current economy.
Likewise, regarding the rebound in real estate activity, he said that Tamaulipas, Tijuana, the South of the Riviera Maya, Veracruz, and Riviera Nayarit are the main locations with this growth.
He exalted real estate advisers to continue to prepare and train since frauds are more present than ever.
Finally, he confirmed real estate license cannot be federal due to the different legislation in each entity of the country, although it is executed in 20 states and there are already 9 regulations.
In conclusion, 2021 will be a year of stability and growth. Although the investors have already seen that it is time to buy and that investing in a property is the best option today, the bulk of the population hasn´t understood this.