Eighth Annual Mexican Housing Day Conference

MEXICO CITY, Feb. 8, 2011 /PRNewswire/ -- The Eighth Annual event will feature important presentations from: Mexico's Minister of Finance, National Housing Commission (CONAVI), Sociedad Hipotecaria Federal (SHF), CONAGO Housing Commission, Mexican Banking Association, and Instituto del Fondo Nacional de la Vivienda para los Trabajadores (INFONAVIT).

Mexican Housing Day 2011 will take place in New York on Thursday, February 10th, at the Waldorf Astoria Hotel (301 Park Avenue).

The housing market in Mexico has solid foundations: i) Secure demand for the next ten years, and, ii) Stable House prices. These factors and the availability of sufficient sources of financing from private and public sector institutions will guarantee the goal of the Federal Government to grant sufficient mortgages to the population.

Events such as the Eight Mexican Housing Day will contribute to raising awareness of business opportunities in housing for international investors and also promote the Mexican Government support for this sector.

For the present decade, housing has been a priority for the Mexican Government. The transformation of the legal framework, especially the promulgation of a new Housing Law, in addition with the creation of an entity in charge of designing and conducting the sector's policy, allowed to establish the basis of a national policy.

At the same time, the Mexican Housing Market has seen significant growth in recent years, driven by a home deficit for new homes of approximately 5.4 million for new households, a strong demand which outpaces home supply, solid mortgage financing institutions resulting in increased access to financing for low income homebuyers, strong federal government support, and consolidated coordination among all players.

The Mexican population includes 26.7(1) million families, from those 8.9 million (1/3 of the total) inhabit substandard dwellings which are built with low quality materials or are overcrowded. Yearly approximately 550,000 new households are formed of which 54% are able to demand a loan.

In terms of yearly mortgage production, the market has grown  significantly from 341,928 in 2000 to 842,000 in 2009 (146% increase) INFONAVIT and FOVISSSTE are responsible of allocating on a yearly basis approximately 450,000 and 100,000 new mortgages respectively.

(1) This figure is updated to 2008; for 2010 INEGI (National Statistics and Geography Institute) estimates around 28 million households.

Information: Enrique Escamilla (55) 91 38 99 91

SOURCE Comision Nacional de Vivienda (Conavi)