Source: Yahoo! Mexico 8-02-2010 Notimex
The general director of the National Housing Commission (CONAVI), Ariel Cano Cuevas, said in New York City that the government of Mexico hopes that mortgage financing will increase five percent 2010 compared to last year.
“More than 790 thousand mortgages in 2010 will be given, meaning an outlay of 243 billion pesos and a real growth of five percent in nominal terms and 9.6percent,” declared Cano in an interview with Notimex.
Before his presentation of the Housing Day in Mexico, held in New York, the director of CONAVI explained that although growth in 2010 will be moderate in the housing sector, the federal government prefers to maintain a cautious and responsible optimism.
According to figures from the branch office, there will be 790 million 97 thousand housing stock during the year, a figure resulting from the mortgages projected for 2010 and just over 300 thousand subsidies granted by CONAVI and the National Fund of Popular Housing (FONHAPO).
The functionary also noted that this year will be marked by consolidation in both the housing sector and mortgage finance.
“Since 2009, there are signs that there is a clear consolidation of the industry, but does not worry us because the players are more serious and more professional,” said Cano.
He explained that the six homebuilders listed on the Mexican Stock Exchange produce between 36 and 40 percent of the total households in Mexico.
Also, according to the branch office data, the number of housing constructions companies in the country declined from 762 thousand in 2007 to 821 companies for 2009.
Cano also said that in this year an increased interest from international investors to participate in the construction sector in Mexico has been seen, after the Housing Day organized in London the week before, and this in New York.
To the Housing Day also attended Ernesto Cordero, Secretary of Finance and Public Credit, and Manuel Pérez, executive board member of the Housing Fund Institute of Security and Social Services for State Workers (FOVISSSTE).
There also were Javier Gavito, director of the Federal Mortgage Society; Victor Borras director of the National Housing Institute for workers (INFONAVIT); Ignacio Deschamps, president of the Association of Banks in Mexico, and José Manuel Rivero, president of the Mexican Mortgage Association.
Also participating in the conference for international investors were Luis Tellez, president of the Mexican Stock Exchange, and Arturo Sarukhan, Mexico’s ambassador to the United States.
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