This year, real estate investments in Mexico are showing greater financial stability compared to the uncertain situation in 2020, since properties maintained their value thanks to the favorable capital gains.
According to the Mexican Real Estate Bank (BIM), 2021 is going to be the year when the real estate sector in Mexico will show a rebound among young people and new marriages by representing the growing buyers’ market for considering housing search as an essential item.
Víctor Manuel Requejo, founder and president of the Board of Directors, declared in the BIM Forum that “Mexico is a country of young people and they will begin to demand housing, their own home, but they will not only want a roof but the services that human beings need to develop, spaces for education, sports, for health care, recreation, the task is therefore enormous and difficult and more so if the economy does not function properly”.
In addition, the National Institute of Statistics and Geography (INEGI)´s statistics have shown that 126 million inhabitants in the country, 63 percent of them are 30 years old or less, that is, around 80 million.
With this scenario, it´s important to learn which are the best locations in Mexico where investment has a great potential to trigger real estate development.
An analysis carried out by the Mexican Real Estate Bank and by Vivanuncios (a real estate platform for the sale and rental of properties) established the following list:
Aguascalientes
The research says that Aguascalientes is an attractive place since there is a growth in jobs and an increase in the demand for housing since at least 18 companies will carry out investment projects in the state. Also, it shows that in 2020, the average price of houses and apartments was lower than Queretaro and Jalisco (at -43.9 and -31.35 percent respectively), as well as in Bajio. Thus, it was easier to acquire a property.
Yucatan
Due to its constant economic growth and high security, Yucatan has attracted large amounts of investment for a long time. Therefore, it is estimated that in 2021, investments in the real estate and tourism sector in Merida will amount to more than 4,500 million pesos, becoming one of the great advantages of the capital.
Also, “the price per square meter of construction is much lower than in other areas of the country, reaching up to more than 50 percent less”, explains Vivanuncios.
Morelos
During the COVID-19 pandemic, many people opted for living outside Mexico City in vacation homes at Morelos, since it was easier to apply the social distancing. As a result, these houses became permanent residences due to the home office scheme. This trend is expected to continue since Morelos has better prices of homes by being 44 percent lower than properties in Mexico City.
Zacatecas
Like Aguascalientes, Zacatecas is a state with a great investment magnet, thanks to its large foreign investment, especially in the mining and renewable energy sectors. For that reason, it is expected to have a high demand for housing because of the growing workforce.
Azcapotzalco, Mexico City
Due to its location between Mexico City and the State of Mexico, where the production and sale of housing are complicated, Azcapotzalco, especially in Vallejo, is making important investments to improve infrastructure in the area and to expand the supply of housing and services. This urban development is supported by big Mexican companies such as Femsa, Bimbo, and Estafeta.