The number of mortgage loans increased by 63.2% in the last year (February 2021-January 2022), representing a total value of S/ 16.2 million, as reported by the Peruvian Chamber of Construction (Capeco).
To detail, the participation of the Mivivienda Fund (FMV) was 26.2% with 12,926 loans in that period. Thus, in the last year, the three formats of the FMV -which are Mivivienda Verde, Mivivienda traditional and own roof– had a better performance in the number of disbursements, exceeding by up to 70% what was placed last year. Guido Valdivia, president of Capeco, highlighted that the number of credits from the Mivivienda Verde program exceeded its pre-pandemic level; however, he warned that the budget for the subsidies of the FMV destined for this year only covers 60% of the disbursements that were reached in 2021.
For their part, financial institutions covered the remaining 73.8% of mortgage loans in the analysis period. Lima and Callao concentrate more than half. In January alone, the share of banks grew by 10% compared to the same month in 2021, but it is still 13.3 points below the period before the pandemic.
Despite the good annual result, Capeco explained that in January of this year there is a downward trend, since mortgage loans registered a fall of 23.9% compared to December.
“We are talking about a market that seems to have more difficulties in maintaining the levels that had been given,” he explained. Valdivia.
He added that the increase in international prices has an impact on the rise in housing prices, which means that “the demand is not going to grow because the purchasing power of the people have been violated”, he pointed out.
Balance. The sector Building it fell 5.2% in the four-month period October 2021-January 2022. However, in January, the fall was less than in previous months.