Sunday, December 3, 2023

Housing prices have spiked 12.9% in Mexico City this year

Housing prices are up almost 13% in Mexico City this year compared to last, with the average price exceeding 30,000 pesos per square meter.

The real estate website Inmuebles24 said housing prices per square meter in the capital climbed to 33,963 pesos (US $1,760), up 12.9% compared to 2018.

According to marketing head Alejandro García Del Río, Mexico City’s most expensive districts are Miguel Hidalgo, Cuajimalpa and Álvaro Obregón.

But the country’s most expensive housing indisputably belonged to Monterrey, Nuevo León, where the average price per square meter rose to 35,160 pesos (US $1,830), a 6.1% increase.

Housing prices in Guadalajara — third highest nationally after Mexico City — remained stable at an average 31,911 (US $1,660) per square meter, only 1% more expensive than in 2018.

García Del Río predicted that housing prices in all three major cities would almost certainly continue to climb. He added that although the averages took both new and used property into account, new residential housing dominates in the current real estate market.

Source: El Financiero (sp)

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