Since the start of 2021, we have seen how actors, including banks, companies, governments, among others, in the real estate industry in Mexico have been collaborating to reactivate the Mexican economy by helping the population buy or invest in properties without difficulty as it was before COVID-19 pandemic.
According to data from the Mexican Real Estate Bank (BIM), there are strong expectations of economic recovery, thanks to the measures taken in 2020, where around 7.9 billion pesos of bridge credit will be placed for the development of new projects, which would generate jobs in the 16 economic branches, where construction is involved.
However, it is important to learn which factors have influenced the current trends in the real estate sector during this year to forecast how 2022 could be:
- Home office scheme
According to the National Survey of Demographic Dynamics (ENADID 2018), housing is a basic need for the more than 126.2 million people who live in Mexico, although amid the COVID-19 pandemic, people have reflected on the spaces they live and have reevaluated their main necessities to improve their own and loved ones´ lifestyles. As a result, they are looking for properties with multifunctional rooms that will allow them to work or study from home.
- Good Return on Investment (ROI)
Investors or people who are buying homes have been taking advantage of the real estate offers, which include a decrease in the prices of some developments.
Experts from International Investments (IDEI) have indicated that the properties that people acquire now will have a capital gain of around 17% in the next 5 years, which will make the real estate acquisition a valuable investment for people who decide to buy a house or apartment.
- Space Is an Important Key
We have already said that remote work has become the new normality, so people started to put more value on the quality of life this can provide and it is reflected in the properties´ features. For example, many people are searching for properties on the coast or in the countryside, or in small towns nearby main cities in many states of Mexico. For example, in Quintana Roo, people instead of choosing Cancun are looking for residences in Tulum, Playa Del Carmen, or Puerto Morelos, where there are more valuable properties.
Likewise, speaking about the indoors, people are now interested in buying houses with larger outdoor spaces such as gardens, terraces, or roof gardens; accessibility and proximity to various services; and amenities for comfort and entertainment, such as gyms, pools, spas, closed security circuits, among others.