Infonavit reported that according to the Survey of Credit and Housing Needs for the fourth quarter of 2021, the Index of Housing Acquisition Intention (IIAV) in Mexico reached 37.4 points, the highest level observed since its publication, in the first quarter of this year.
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Home purchase intention grows
The IIAV registered an increase of 2.3 points compared to the previous measurement, which is consistent with a greater feeling of job stability and an increase in the monthly income indicator, as part of the economic reactivation of the Country.
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Through a statement, the Institute pointed out that of the beneficiaries surveyed, the population that showed the greatest interest in buying a home (45 points) were workers with incomes of between two and three times the minimum wage (8,621 to 12,930). pesos).
“These beneficiaries under the guidelines of the new credit scheme in pesos launched this year can access a loan to buy a house with an interest rate of between 5.70 and 8.86 percent,” said Infonavit.
He pointed out that those who receive between five and six minimum wages (between 21 thousand 551 pesos and 25 thousand 860 pesos), is the labor segment that showed the greatest growth in their purchase intention, going from 37.4 points in the third quarter of 2021 to 43.5 points in the fourth quarter.
According to the Institute, workers with this income level can access financing at a rate of 10.45 percent.
In the communiqué, Infonavit affirmed that the probability of requesting a loan remained practically the same as that registered in the previous quarter, both for the purchase of housing and for land, at 30 and 24 points, respectively.
In this sense, 49.9 percent of the population is interested in a loan for the acquisition of their own home, 48.2 percent in financing for construction on their own land and 47.4 percent in credit for home improvement.
Regarding the financing conditions, 31.9 percent of the beneficiaries indicated that they prefer to apply for a loan and join it with their partner and 30.5 percent with an acquaintance or relative, rather than transact a co-financing with commercial banks to reach a higher amount of financing.
Respondents expressed that the location of the home (63.5 percent), the price (33.5 percent) and the proximity of services (24.3 percent) are the most relevant characteristics when deciding which house to buy.
On the other hand, according to the survey, 28.9 percent of the beneficiaries consider that the economic situation of the country is better than that of a year ago and 66.3 percent expect the situation to improve within the next 12 months.
Regarding the economic situation of households, 27.4 percent of those surveyed perceived an improvement in the last year, while 51.7 percent expect conditions to be more satisfactory in the next 12 months.
For the preparation of the survey, carried out between October 8 and 24, 2021, 1,502 workers were interviewed, which constitute a representative sample of the beneficiaries who are employed and who do not have a loan.
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