Mexicans seek to buy a home 100 times the value of their monthly salary

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The most sought-after properties have a value of between one and two million pesos, while those interested have monthly incomes of between 10,000 and 30,000 pesos.

Buying a home is one of the dreams of most people in the world, but in Mexico fulfilling it is increasingly complicated.

In the first quarter of 2022, the Infonavit Credit and Housing Needs Survey registered the highest number of the Housing Credit Intention Index, reaching 39.2 points.

But as the interest in acquiring a property grows, the obstacles become greater. In the same period, inflation in the country stood at 7.45% and the cost of housing, according to the Federal Mortgage Society (SHF), increased 7.7%.


The result of this situation is that the properties that are sought to be purchased have a value 100 times greater than the family income in the country, according to data from the startup Perfilan.

The company conducted a home purchase interest analysis, in which 80,000 people were surveyed. The majority said they were more interested in real estate with a value between 1,000,000 and 2,000,000 pesos, corresponding to the middle segment.

However, the monthly family income of people with this interest is between 10,000 and 30,000 pesos (56%).

Although this is still the value that dominates the most, interest in homes with a price of less than 1,000,000 pesos has grown, with 6.5% more in 2021 compared to 2020. At the same time, the preference for bank mortgage credit fell, while that Infonavit remains the favorite in economic and medium level.

Source: obras.expansion.mx

Mexico Daily Post