The real estate market responded better than other sectors to the Covid-19 pandemic, with segments such as the social interest that has emerged, and where real estate professionals bet on technology to continue selling, so it is expected that in 2022 there will be a hybrid model.
In the panel “Balance at the end of the year of supply and prices”, organized by Grupo En Concreto #EnConcretoContigo, real estate professionals made it clear that there is no crisis in the sector after the pandemic, that the market is moving and that in the next years the upward trend will continue.
Roberto Barrios , President of the Mexican Association of Real Estate Professionals (AMPI), said that they are optimistic about the immediate future, where the challenge will only be to overcome economic insecurity, that people know if they will keep their job, income or business.
He expressed that housing is going to be in one of its best moments, where the low-income market is shining like never before and where commercial banks deserve applause for the boost it has given to the mortgage market.
As destinations such as Cuernavaca, Acapulco, or Valle de Bravo grew, since the pandemic forced many people who lived in small apartments to move, rent or buy a large house with a garden, “that has moved those markets.”
At the country level, he said, rental prices have been sustained, while low-end housing has flown, inventory has been depleted, and no new has been built, so there will be a market surge soon.
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Barrios stressed that they took advantage of the quarantine period to specify the most aggressive program in history, free training, “we have broken all records”
In that sense, he foresaw that the current trend will continue in 2021 and in 2022 there will be “a hybrid model of what we have, but pointing to growth”, where technology will continue to drive sales.
In turn, Laura Zazueta, Counselor of AMPI Nacional and Vice President of Expansión stressed that real estate did not stop due to the health emergency.
He stressed that the sale of housing was driven by loans from commercial banks and national housing agencies, in addition to co-financed products such as Unamos Credits, so there is no real estate crisis.
He commented that there are areas like the Benito Juárez mayor’s office in Mexico City, where there is a lot of supply, “it is being sold”, while destinations like Puerto Vallarta “are moving unbelievably, there is no crisis.”
He also highlighted that real estate professionals took advantage of the contingency to train, to enter the world of technology and have now taken advantage of digital tools to continue selling.
Zazueta stressed that there are already 360-degree videos that allow showing every corner of the property , in addition to the electronic signature, so it is not necessary to mention the buyer, so they are “new situations that are here to stay.”
In his opinion, the future market is going well, it is moving, although there are still obstacles, as in the case of Mexico City, where Seduvi is granting permits drop-wise, “in practice architects and DROs take very small chips. early, but they put buts, that is slowing down construction, “he noted.
While Alejandro Kuri, former president of AMPI, highlighted that rents have remained at the same level since the pandemic began, thanks to the fact that the first policy was to continue with the same contracts and rent until the end of the year.
In the case of the commercial premises of service businesses, bars, or restaurants that were the hardest hit by the measures to stop contagion, “we made very particular arrangements.”
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He stressed that rents will not rise, because interest rates have remained low, as well as inflation, “there is no real reason for that to happen, I see a time of stability.”
He also agreed that real estate professionals have prepared very well in recent months in the technological area, which before was not given due importance, “and we understood that we have to get on it.”
This model, he said, is going to stay because it makes us much more efficient, since “before we made contracts with a chisel and hammer”.
In his opinion, 2021 will be a year of stability and growth and 2022 of full growth, since although the investor has already seen that it is time to buy and that investing in a property is the best option today, the bulk of the population it takes time to understand this.