The placement of housing loans in Durango registered a decline of nearly seven percent during the first half of the year, representing approximately 300 fewer homes, reported former president of the National Chamber of the Housing Development and Promotion Industry (Canadevi), Salvador Chávez Molina.
Durango’s Housing Loan Placement Contrasts With the National Trend
He explained that Durango’s performance contrasts with that recorded at the national level, where the number of mortgage loans showed an average growth of 2.6 percent, while the amount of loans placed increased by seven percent.
In the case of Durango, he detailed, the decline is occurring among the main financing institutions and sources, including the Institute of the National Housing Fund for Workers (Infonavit), which reported a 6.7 percent decline in the number of loans; the Housing Fund of the Institute of Social Security and Services for State Workers (Fovissste), with a 10.4 percent decline; and commercial banks, with a 6.1 percent decline.
Chávez noted that, although there is a reduction in the number of transactions, the amount of money placed in housing behaved differently, registering an increase of around 4 percent.
This is because the transactions that are being completed mainly involve higher-value homes and buyers with greater purchasing power, who have the ability to absorb the costs associated with purchasing and registering a property.
Durango Residents Stop Buying Their Own Homes Due to Economic Conditions
The former president of Canadevi considered that Durango’s economic conditions and the costs associated with purchasing a home have reduced activity in the sector, particularly because of changes in taxes and fees related to property transfers and other concepts.
“We are conducting an analysis because neighboring states such as Sinaloa and Chihuahua have considerably lower property-registration costs,” he said.
According to Chávez, this situation has contributed to the local market recording a lower number of transactions, even though the economic value of the loans placed remains stable and is even showing slight growth.
The decline in the number of loans, he warned, is also directly reflected in housing construction, since approximately 300 loans were no longer placed during the first six months of the year, equivalent to around 300 fewer homes.
Source: oem
