Housing prices in Mexico City could rise up to 12% in 2019

The increases could occur in high-demand mayorships, such as Miguel Hidalgo, Benito Juárez, Cuauhtémoc and Azcapotzalco.

General housing prices in Mexico City will increase 9%, for a house it will be 5.5%, while for apartments it will be 12%, estimated the real estate website Propiedades.com.

In a statement, the company said that the increase in properties is due to various factors, such as the metropolitan growth of the city, and the construction of new business or commercial centers.

Leonardo González, a Real Estate analyst at the site, explained that Mexico City traditionally shows an upward trend in house prices, even above the rest of the country.

The real estate portal calculated a price increase in houses of the residential segment of 5.2% and for residential plus 7.5%, while in the case of apartments it would be 16% in residential and 7.8% in residential plus.

Samuel Vázquez Herrera, principal economist at BBVA Bancomer, explained that the increases will be seen in areas with higher demand, mainly in municipalities such as Miguel Hidalgo, Benito Juárez, Cuauhtémoc and Azcapotzalco.

Federico Sobrino, real estate consultant and partner of the Institute of Property Administrators, considered that the best strategy for housing in Mexico City is that the city no longer grows more to the sides and rescue the real estate that already exists.

“I would dare to say that the 16 city halls have many abandoned properties, for example, the Tlalpan corridor, where there are buildings in which nothing else works the ground floor and in the best of the cases the first floor as a warehouse for street vendors. The other floors are abandoned because people can not pay rent or mortgage, “he said.

Source: El Economista

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