Mexico City delivers affordable housing at lower costs
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Clara Brugada, head of government for Mexico City, announced her administration is providing new social housing that costs three times less than market value.
She shared this information while attending the U20 Summit of Mayors in New York City, alongside officials including Zohran Mamdani of New York and Jaume Collboni of Barcelona. Over the past two years, the city government secured 250,000 square meters of land despite difficult negotiations, dedicating it to housing construction.
Brugada explained that the city offers zero-interest loans to working families, ensuring repayment does not exceed 20 percent of their income. The government's housing policy aims to democratize access to credit and include people historically excluded from traditional banking. The city also focuses on ecological building practices, installing 16,000 rainwater harvesting systems, solar water heaters, and urban gardens. Additionally, they are improving the habitability of 40,000 existing homes to ensure families have dignified housing.
