Green Mortgage to Promote Sustainable Building in Mexico

The Mexican National Fund for Workers' Dwelling (Infonavit) has recently launched and is promoting loans and special mortgages for people who acquire properties with green features, specially those related to energy saving. This institute is an organization founded in 1972 whose main function is to give workers credit for home acquisition. The 'Green Mortgage' program was launched last January and has had its first beneficiaries a few days ago in Yucatan province (picture). "We want to encourage developers to build homes with energy saving materials in walls, windows, doors; and when a person buys that home, we'll give them a better mortgage because they will have savings that will derive in higher buying power", said Ernesto Gonzalez Gallardo, technical sub-director, Infonavit, when the plan was launched. The increase in the financing the Infonavit gives to the families goes from six to eight thousand pesos, which equal about 720 US dollars but the institute says can represent an extra bedroom or a more spacious house. The benefits are also for developers: according to the institute, the ones who aim to build projects with these characteristics have easier city hall paper work. The 'Green Mortgage' plan was inspired by all the initiatives that have took place in the United States, Canada or Australia, and aims to encourage green building in the country. These days, only ten out for four thousand registered firms have started projects with plans to install energy saving devices, the institute informed.

Via Diario de YucatanThose, according to Infonavit, are companies like Pulte, Homex, Alta Homes, Urbi, Viveica, Sadasi, VIBE Constructor and Vivesi Group.

According to Diario de Yucatan, the first Green Mortgages were delivered in Ciudad Caucel to an administrator employee and a business manager, Rosa Margarita Canul Chan and Guillermo Weil Grajales. They bought homes equipped with solar heaters, energy saving bulbs, devices to reduce drinking water consume, thermical isolation in ceilings and crossed ventilation, and were built by the Sadasi Group.

The institute hopes to finance two thousand green houses by the end of the year, Norte newspaper informed. ::Original story (in Spanish) ::Diario El Norte (in Spanish, subscription required)

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