The real estate market in Mexico has undergone significant changes in recent years with factors such as increased demand in metropolitan cities, the development of new residential areas, tourism that is precisely responsible for promoting real estate investment, housing prices in urban areas. , rental and purchase trends, among other things.
RE/MAX guides you, what is the future of the real estate market in Mexico?
He real estate market in Mexico has evolved over the years, housing prices have increased in most urban areas, which has attracted the attention of national and international investors. Furthermore, the market has been driven by a growing demand for housing and an increase in the number of construction projects.
Despite the growth opportunities, the real estate market in Mexico also faces significant challenges, as the country’s economy is vulnerable to changes in the global market and is highly linked to international trade. There are several trends that are shaping the future of the real estate market.
One of the biggest challenges facing this sector is the lack of affordable housing. Many people in the country cannot afford to own a home, which has created a high demand for affordable housing.
To address this problem, more affordable housing projects are being developed across the country. These projects are being financed by the government and by the private sector. RE/MAX It offers many opportunities in this regard.
An important trend in the real estate market in Mexico is the growth of vertical housing. Urban areas are becoming more densely populated, which means there is less space to build single-family homes.
In accordance with Mordor Intelligencethe Residential Real Estate Market in Mexico is expected to register a CAGR of approximately 7 percent during the forecast period of 2022-2027.
Currently, large cities like Monterrey are growing due to the demand for corporate and residential spaces. The growth of tourism in destinations such as Cancun, Los Cabos and Puerto Vallarta also encourage real estate developments.
The Mexican real estate market remains healthy and looks set to continue despite the challenges it faces, as the national housing price index increased by 7.72 percent during the second quarter of 2021, after year-on-year increases of 6.59 percent in the first quarter of 2021 and 5.38 percent in the fourth quarter of 2020. On a quarterly basis, house prices increased 2.29 percent during the second quarter of 2021.
