Jesús Cano, director of the Sociedad Hipotecaria Federal (SHF) (Federal Mortgage Society), stresses that the real estate sector in Mexico is robust, with sustained growth expected in the coming years.
During the MTY Summit Inmobiliario 2018 (Monterrey Real Estate Business Summit 2018) of the Cámara Nacional de la Industria de Desarrollo y Promoción de Vivienda (CANADEVI) (National Chamber of the Industry of Development and Promotion of Housing), he confirmed that greater financial support is required for this industry to bring more aid to the entire population.
“It is a very strong institutional sector, which generates more than 2,000,000 jobs a year and 7 percent of the gross domestic product. It is a very robust sector that has worked well and should continue to work well.”
He says that in countries such as Chile and South Africa, which are similar to Mexico, the mortgage sector represents 20 percent of GDP, while in Mexico it is 11 percent.
“Today, one of every four new homes built in this country is financed by us, and about 400,000 new homes are built each year in Mexico.” —Jesús Cano, SHF director.