43% of Mexicans change their decision to buy a home

This survey reveals Mexicans’ uncertainty about changing management and the implications it might have on their housing decisions. A survey was created by Vivanuncios to 8000 Internet users.

Among those surveyed, 80% considered that the candidates for the presidency of Mexico do not have interesting proposals in terms of housing, while the rest indicated that.

When asked about the possibility of acquiring a home in 2018, 41% of those surveyed indicated that they had plans to do so, while 59% had no intention of buying a home this year.

Among residents who will buy property throughout the year, 68% would prefer to buy a home; 19% would choose an apartment and 13% would prefer land to build their homes.

Vivanuncios survey titled “The Impact of the Presidential Election on Housing Acquisition in Mexico” It yielded other interesting data: 68% of survey respondents consider that the upcoming election will influence the decision to buy a home.

Of this total, 27% prefer to exercise caution before changing the government. 24% will wait until the election is over to buy a house or apartment. And 17% believe that there will be an increase in prices. Another 32% who do not believe that the election will affect the purchase decision believe that the situation will remain the same (26%) or that the election period will not affect them, because they are too far ahead in the purchase (6%).

When asked, if a candidate who is not your favorite wins the presidential election, Will it change your buying decision?: 43% of those surveyed answered that they would reconsider, while 57% would not change their opinion.

Finally, those surveyed pointed out what would be the best proposals a presidential candidate should make regarding housing: 37% said that improved mortgage interest rates; 27% would like better prices for easier home buying; 20% preferably easy access to housing finance. 9% aspire to house all workers. While the remaining 7% cited other ideas, including strict regulation and guidelines for building safer and more environmentally friendly buildings; raising the minimum wage and creating formal jobs to be able to buy a home; Fixed interest rates, and a shorter term of mortgage loans (15 years, not 30); Build bigger homes and better location.

It should be noted that the three main candidates for the presidency consider housing a priority issue, so they propose, among other things, to increase purchasing power through subsidies, urban reorganization, and real estate regulation.

The most prominent housing proposals for presidential candidates

The housing coordination of Ricardo Anaya, candidate for the presidency of the “Por México al Frente” group, includes among its main proposals the implementation of a national collection system so that institutions – such as Infonavit or Fovissste – that give credits reduced certainty of payment and the risk of increasing your overdue portfolio. Similarly, purchasing power will be boosted through universal basic income, wage increases, and subsidies, among other measures.

The housing strategy of the “Todos por México” coalition candidate, José Antonio Meade, revolves around the creation of quality-of-life communities and for each family to be able to find new or used housing for sale or rent, according to financial needs and capabilities. Likewise, his team stressed the importance of Mexicans retaining the freedom to design their homes and not succumbing to serial or ‘desktop’ designs, as this is the cornerstone of happiness in heritage creation.

For his part, the proposal of Andres Manuel Lopez Obrador’s team, of the “Together We Make History” coalition, is based on identifying about one million housing projects annually in the event of a victory in the July 1 elections. Likewise, he proposes the creation of a land bank to promote social housing in urban areas and the establishment of a regulation program at the national level to address the problem of millions of plots in an informal situation.

For 2018, the Mexican Association of Real Estate Professionals (AMPI) has forecast 4% growth in this sector and the outlook appears to be supported by development in key areas such as Baguio and Riviera Maya which are increasingly attractive to foreign investment; Growth in the industrial sector in areas such as San Luis Potosi, Monterrey and Merida is also triggering the housing launches and the dynamics that this implies.

The real estate sector is an area of ​​vital importance in Mexico and is therefore on the agendas of presidential candidates. Naturally, before the change of administration, the population had some uncertainty, but this market showed its strength, even in the face of political and economic adversity inside and outside the country. Its growth in recent years has been good. I think that regardless of the outcome of the electoral process that will take place in a few days, it is very likely that the sector will continue to look for new opportunities for expansion as it has done so far,” said Cecilia Forfaro, general manager of Vivanuncios.

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