Despite a lag in housing construction, there are positive signs for 2023: Specialists

2022 has been a difficult year for the construction and sale of new housing; However, by 2023 there are signs that encourage the industry to have better results and thus, it is possible to speak of a recovery after the pandemic hit.

On Wednesday, December 7, the National Chamber of the Industry for the Development and Promotion of living place (Canadevi), held its year-end lunch where both industry participants and economic analysts agreed that 2023 has positive signs for the construction sectorspecifically in the housing branch.

“The construction industry is the one that shows the greatest lag with continuous falls this year; in terms of investment, it is 20% below January 2019. Likewise, the working market in Mexico it is very strong with growth in formal employment above the historical average, which will eventually be positive for the demand for mortgage credit”, commented Carlos Serrano, chief economist at BBVA.

For Luis Alberto Gómez Monroy, national president of Canadevi, one of the positive points that can be seen for 2023 is the credit program of the Institute of the National Housing Fund for Workers (Infonavit), through which the capacity of financing of a beneficiary to this body and also allows the balance of the housing subaccount It can be used as a down payment on a bank loan.

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“The fact that today there are five banks serving the demand for new housing from non-active rightful holders using the housing subaccount as a down payment and that the Institute continues without increasing its rates, allows us to anticipate that 2023 will be a better year”, highlighted Gómez Monroy.

Potencial del nearshoring

In his speech, Carlos Sánchez, chief economist at HSBC, highlighted that, although the world is in a complex economic context, the economy in Mexico has been able to maintain a “solid behavior” during 2022 and despite the fact that 2023 is presented as challenging, the national economy shows positive signs, such as the nearshoring effect.

“In Mexico, some sectors have already reached and even exceeded pre-pandemic levels, for which we expect a relatively favorable dynamism among sectors that have not returned to previous levels. However, our country continues to have a solid macroeconomic outlook, especially since the nearshoring it is a structural factor that will provide greater dynamism to our economy,” Sánchez declared.

At the event, it was announced that the next Canadevi convention will be held from February 9 to 11 of next year in the city of Mérida, Yucatán, with the participation of various speakers from both the economic and social spheres. housing industry.