The residential mortgage market in Mexico City is undergoing a structural shift, with used housing now accounting for three out of every four bank loans issued in the capital.
This heavy reliance on the secondary market underscores a persistent shortage of new residential developments, forcing buyers and lenders alike to pivot toward existing inventory to sustain credit volumes.
Industry specialists point to the limited pace of new construction as the primary driver behind this trend.
Despite ongoing demand for housing in the country's largest metropolitan area, the pipeline for new residential projects has failed to keep pace, creating a supply gap that the resale market is effectively filling.
This dynamic suggests that the local real estate sector is currently constrained by development capacity rather than a lack of buyer interest or credit availability.
The shift has implications for the broader financial ecosystem in Mexico.