Infonavit Caps Welfare Home Prices at 630,000 Pesos

Mexico — The Institute of the National Housing Fund for Workers (Infonavit) has announced that the maximum price for homes to be constructed under its welfare program will be 630,000 pesos. The institute stated that this measure aims to ensure the homes are accessible to the individuals who wish to acquire them, specifically those earning between one and two minimum wages.

In a statement, the institute detailed that the price for each housing unit within a development will be determined by considering the prototype—whether vertical, single-family, duplex, quadruplex, or any other type—and the specific construction floor on which the unit is located.

Fixed Price in the Single Housing Registry

This established price will be recorded in the single housing registry, documented in all paperwork generated by Infonavit during the credit registration process, and disclosed for the purposes of the property deed formalization.

The institute clarified that the determination of the maximum price must be uniform for all homes with identical characteristics within the same housing complex, though differences may be established based on the floor level.

"The consideration received by Infonavit from the sale of each home must guarantee the maximization of cost recovery for the National Housing Fund, without pursuing any profit, while ensuring financial stability to continue production," the institute stated.

Calculation of Sale Price

Infonavit affirmed that, based on the principles of affordability and equity outlined in its current provisions, the calculation of the sale price will consider the following elements:

• The cost of the land
• Urbanization costs, which include: earthworks, grading, platforms, and pavements; hydraulic, sanitary, and electrical networks; among others
• Construction or rehabilitation costs for the homes
• Indirect costs, including administrative expenses, studies, and projects

The institute noted that if the minimum wage changes in a region, a proportional adjustment to these prices may be considered.