Understanding the Scale of Abandoned Housing in Nuevo León
Nuevo León, a state in northeastern Mexico, is grappling with an estimated 300,000 to 400,000 abandoned homes. This issue is part of a larger problem, as the region has approximately 1,655,256 occupied homes according to the 2020 Population and Housing Census by INEGI. Among these, 80,000 Infonavit houses are estimated to be unoccupied, with 80% being illegally occupied by Fomerrey’s assessment.
The Housing Deficit and the “Flipping” Solution
The nearshoring boom in Monterrey has led to a housing shortage. Alfredo Villalobos, CEO of Cima Capital, proposed a solution through the “flipping” method. This strategy involves purchasing undervalued properties, renovating them, enhancing their value, and selling them at a higher price.
The “Flipping” Method: An Emerging Trend
Villalobos explained this investment strategy to members of the Mexican Association of Real Estate Professionals (AMPI) Monterrey. The “flipping” method is gaining traction among real estate advisors due to its significant potential, with an estimated 25% of professionals in the field already utilizing it. Cima Capital offers training courses to further promote this approach, aiming for AMPI certification.
Nationwide Abandoned Housing Issue
On a national scale, it is estimated that there are around 650,000 abandoned homes. The local PRD legislator, Perla Villarreal, proposed a “Census of Abandoned Homes” initiative in December, highlighting the numerous neglected properties in Monterrey’s center and other municipalities like Juárez, General Zuazua, García, and Pesquería.
Selling an Abandoned Home: The Process
Villalobos clarified that through the open market or Infonavit market, a new buyer can settle an existing debt with Infonavit. The process involves Infonavit granting a new loan to the property with outstanding debt, allowing the new buyer to clear the debt in one transaction, extinguishing the mortgage with a new sales contract.
Support from AMPI Monterrey
Juan Manuel Escobedo Garza, president of AMPI Monterrey, emphasized that the “flipping” method aids in restoring neglected spaces, directly supporting the government through Infonavit and contributing to social regeneration by revitalizing abandoned properties often illegally occupied and associated with increased crime.
AMPI and CANACO Monterrey Form Collaboration
During a related event, AMPI Monterrey chapter president Juan Manuel Escobedo and Canaco Monterrey director Héctor Villarreal Muraira signed a collaboration agreement.
Growing Interest in the Partnership
Escobedo highlighted that the alliance has sparked interest among AMPI members, with 40 seeking membership in Canaco. Villarreal Muraira noted that AMPI Monterrey has long been regarded as a specialized section of Canaco, and the recent discussions led to reaffirming their strong business and friendship ties.
