Background on Infonavit and its Relevance
The National Housing Fund for Workers (Infonavit) is a Mexican government-owned institution responsible for providing housing credit to workers. With over 173,000 eligible workers in Quintana Roo, Infonavit plays a crucial role in addressing the housing deficit of 150,000 affordable homes in the region.
Infonavit’s Housing Project in Quintana Roo
During a working visit to Cancún, Octavio Romero Oropeza, Infonavit’s director, announced the imminent delivery of 8,000 affordable homes under the “Bienestar” program. These homes will be financed entirely by Infonavit and are targeted at workers earning between one and two minimum wages.
Project Details
- Location: The construction is ongoing in Benito Juárez, Chetumal, and Playa del Carmen.
- Building Specifications: The apartments will be 60 square meters, with four-story buildings housing up to 16 units each.
- Financing: Infonavit will fully finance these credits, capped at 600,000 pesos based on workers’ income levels.
Market Value vs. Affordable Costs
Romero Oropeza highlighted that the market value of these homes can reach one million pesos. However, through land donation agreements and the elimination of taxes with federal, state, and municipal governments, Infonavit manages to reduce the cost to the credit amount accessible to low-income workers.
Additional Infonavit Programs in Quintana Roo
Besides the “Bienestar” program, Infonavit is also implementing two other initiatives in Quintana Roo:
- Free Mortgage Release Program: This program benefits approximately 2 million workers nationwide, including 51,263 potential beneficiaries in Quintana Roo. So far, 6,915 mortgages have been canceled under this program.
- Credit Quitas Program: This initiative targets impaired credits issued between 1987 and 2021, totaled at 166,000 in Quintana Roo. Out of these, 26,000 have been resolved, leaving 140,000 credits still to be addressed.
Key Questions and Answers
- What is the Infonavit housing project in Quintana Roo about? Infonavit is constructing 8,000 affordable homes for workers earning between one and two minimum wages in Quintana Roo.
- How are these homes being financed? Infonavit is fully financing the credits, capped at 600,000 pesos based on workers’ income levels.
- What are the additional Infonavit programs in Quintana Roo? Besides the affordable housing project, Infonavit is also running a free mortgage release program benefiting 51,263 potential workers and a credit quitas program addressing 166,000 impaired credits.
