The resilience of the construction sector, hand in hand with the support of the banking system, Infonavit and Fovissste, added to the low interest rates, have made the Covid-19 crisis lessen the impacts on this branch of the national economy, whose future looks promising.

Thus, representatives of the housing and construction industry coincided during their participation in the Industry Leaders Meeting, organized by Grupo En Concreto and the Mexican Stock Exchange (BMV) who, driven by the health crisis, directed their actions in favor of the beneficiaries.

In his opportunity, Gonzalo Méndez Dávalos, president of the National Chamber of Housing Development and Promotion (Canadevi), pointed out that the industry behaved in a resilient manner and only lost 1.9% of penetration and the market at the end of 2020.

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However, he indicated that as a result of the actions that were undertaken by Fovissste and Infonavit, it was achieved that this sector that drives the economy will successfully pass the difficult test, in which he highlighted the amount of credits granted by commercial banks for above 9.4%.

He indicated that, although some inputs are rising, such as steel, up to 55%, this is not yet reflected in house prices, so it is a point in favor for the acquisition of houses.

For his part, Juan Francisco Bermúdez, executive vice president of housing and urban development of the Mexican Chamber of the Construction Industry (CMIC), pointed out that it has been a great challenge but with the advantage that this industry, which stopped momentarily, was determined as a primary activity and they were automatically able to continue working.

He mentioned that the private sector has continued to develop projects and the challenge is to continue taking the best possible programs to provide a better product to the right holders.

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Among them, the use of technology, communications, internet and social networks that have been allied to sell their products.

"The economic, as the pandemic has been developing, the issue of vaccination that has been strategic and important, to ensure that most of the population in Mexico and in the world continue to be vaccinated so that they can continue to have peace of mind and fly to the destinations and with it the labor demand that we have, which is what impacts housing ”, he asserted.

He added that tourist, middle and residential housing is the one that has maintained the sector the most, however, social housing has decreased since before the pandemic and is only 20% in relation to what was built before.

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Original note