Mexico Real State Outlook. Second half 2022

Summary

In the middle of 2022, the Construction sector continues to grow, 0.5% above that presented in the middle of 2021, driven by Civil Works, Building continues to contract. Bank mortgage credit in 2022 with discrete growth, has taken the lead. A high concentration is observed at the state level.

Key points

• Key points:
• Construction slows down. In 2023 it will grow marginally thanks to Civil Works
• Mortgage credit maintains its growth, despite increases in the interest rate and supported by the appreciation of housing
• A high concentration is observed at state level. High growth in states tourism oriented
• Infonavit's default rate increased to more than 20% due in large part to the adoption of sound accounting practices

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