The results of the 2020 National Housing Survey were released and the results regarding property ownership are revealing
The last National Housing Survey (ENVI) offered us data from 2014 and the 2020 results have just been released, which were announced by the authorities of the three institutions involved in this study: the Infonavit and the Federal Mortgage Society (SHF ), and the National Institute of Statistics and Geography (Inegi).
Edgar Vielma, general director of the latter, indicated that the results represent the voice of the inhabitants of 35.3 million homes nationwide, their needs and demands.
Some of the data offers an insightful picture of property tenure. In 2014, 61.4% of homes were self-paid (including interstate or in litigation), while that number dropped to 57.1% in 2020. Rented homes in 2014 represented 15.2% and, in 2020, they increased to 16.4%. Loaned houses went from 12.8% to 14.2%, while in own houses paid for, almost no variation was observed (10.4% compared to 10.7%).
Why do Mexicans prefer to rent?
Among the 16.4% who rent, the reason for that rent was due to the fact that they do not have access to credit or the resources to purchase a home (51.4%);Â by the ease of moving (22%);Â because the monthly payment is lower than in a mortgage (9.7%), because they are not interested in buying (5.4%);Â because they prefer to invest in their person (travel, study, business) 3.3%;Â and the remaining 8% cited other reasons.
Houses with legal title
Regarding own homes, about 24 million, 73% have deeds, that is, 17.4 million. Likewise, it is important to note that 9.9 million homes (56.9%) belong to a man, while 7.2 million (41.5) are owned by a woman.
How do Mexicans acquire their home?
The ENVI 2020 showed that 57.3% built them themselves in 2020 (in 2014 that figure was 54.8%).
The entities where the population built their home are:
- Oaxaca: 86.8%
- Guerrero: 80.1%
- Tlaxcala: 79.6%
- Chiapas: 78.1%
- Hidalgo: 76.6%
In addition, the purchase of new homes increased to 20.8% in 2020, compared to 17.1% in 2014.
In 2014 12.7% bought a used house, in 2020, the number rose to 14.6%.
The main sources of financing for housing in Mexico
Given that self-construction prevails, ENVI 2020 found that in 65.4% of cases, houses are built with their own resources: 18% of people resort to a loan from Infonavit, a phenomenon that has increased since 2014 when it was 12.8 %.
On the other hand, there was a slight reduction in the population that decided to request credit from a private financial institution, since in 2014, 11.5% did so and in 2020, 9.1%. Family loans were also reduced (from 6.8% to 4.6%).
When analyzing the own homes acquired as new or used, the Inegi director stressed that those 8.5 million homes is a great recurrence to financing;Â 48.6% seek the support of Infonavit, 38% use their own resources, 14.8% request credit from a private financial institution, 6.6% from Fovissste, and 9.9% use another source (credit from another public institution, family loans, friends or other people or a federal, state, or municipal grant).
House size Â
Of these 35 million homes, 28.1% correspond to small houses of up to 55 m2;Â 41.3% to properties from 56 to 100 m2;Â 15.6% from 101 to 150 m2;Â 15.1% over 150 m2.Â
According to the survey, in Mexico, there are 9.6 million small houses, and the cities where these properties are most prevalent are: Campeche, Baja California Sur, Chiapas, and Veracruz, since two out of every five houses are of this type.Â
While in CDMX, Guadalajara and Nuevo León only one in five is up to 55 m2.Â
Age of dwelling  Â
The ENVI observed that of the total number of dwellings, 28.7% are 11 to 20 years old, 24.6% are more than 31 years old, and 9% are new buildings with five years or less.Â
The states of Oaxaca, Chiapas, Quintana Roo, Tabasco, and Baja California Sur are where properties with an age of five years or less are most concentrated.Â
And the reason for this is because there have been natural phenomena that have left several families homeless, and they have had to build new homes.Â
Source: forbes.com.mx, inmobiliare.com