Mortgage loans from the Mivivienda Fund would fall 39%

For the third consecutive month, the number of loans from the Mivivienda Fund (FMV) delivered have gone down.

And it is that, after having disbursed a total of 1,335 loans in November 2022, the trend has been decreasing to the point that last February only 876 credits were placed, being the lowest figure reached after the pandemic, except for the period in which the FMV ran out of resources.

Guido Valdivia, executive director of the Peruvian Chamber of Construction (Capeco), expressed concern about this downward trend and pointed out that, if this rate continues, the mortgage loans of the Mivivienda Fund could decrease up to 39% at the end of 2023.

“If we maintain this trend, we are going to go from 13,500 Mivivienda loans to 8,265, which would be unfortunate because a greater social offer can be generated and the market has a very high ceiling,” Valdivia asserted during the presentation of the Construction Economic Report from Capeco.

The disbursement of the Housing Family Bonus (BFH) in the modality of new housing acquisition has also been decreasing. Thus, in February, only 554 subsidies were granted, being the worst performance since April 2021.

construction in red

After the construction GDP fell 11.7% in January of this year, Capeco estimated that in February the decline would have been 12.3%, impacted by heavy rains and mudslides. “In general, the construction results in some way benefited when there is reconstruction process, but, as experience shows, this comes the year after the occurrence of the natural phenomenon. In the year in which it occurs, in general, there is a great drop in the level of operation of the construction sector”, affirmed the union representative.

National Authority is not a good idea

For Capeco, the creation of the National Infrastructure Authority would not be a good idea, since it would have a scheme similar to the Authority for Reconstruction with Changes and that of the South Reconstruction Fund.

In that sense, one of Capeco’s proposals is to create a body of public managers, specialized in logistics, which will be in charge of Servir and which will integrate the special selection committees in works contracting processes carried out by State entities.