Real estate sector in Mexico will close 2022 with 511,000 million pesos of investment: Softec

In a context of rising interest rates, low construction production and an environment of economic uncertainty, investment in the real estate In Mexico, it projects marginal growth towards the end of this 2022.

According to the company specialized in real estate consulting and research Softec, it is estimated that total spending in said industry will be 511,000 million pesos at the end of the year, a figure that takes into account the value of housing sales and investment in other segments.

This amount represents an annual growth of 1%, since, in 2021, the capital invested in the sector was 506,000 million pesos.

“If we compare this against last year, the amount is very similar. It should be noted that the most prominent growth points are taking place in the industrial and vacation home sector”, commented the CEO of Softec, Gene Towle, at the seminar organized by said firm. real estate industry 2022-2023.

In this sense, he explained that the investment by segments will end the year as follows:

• traditional housingwith 269,844 million pesos (52% of the total investment).
• holiday home with 90,143 million pesos (17.6%).
• Hotels with 48,075 million pesos (9.4%).
• commercial segment with 46,572 million pesos (9.1%).
• industrial real estate sectorwhich will accumulate 42,494 million pesos (8.3%).

The holiday home stands out

During his speech, Towle highlighted that there is strong growth in the vacation home segment.

According to firm studies, this market is expected to reach an offer of 22,000 units in 2030, the year in which it could double current sales.

“The vacation market looks unstoppable. Currently, sales of this type of property are 3,000 million dollars, but we calculate that by the end of this decade they will be 7,000 million dollars”, affirmed the director of the firm.

Likewise, he highlighted the potential of Mexico in this segment, since it has captured the attention of foreign buyers, especially in tourist areas and near the border with the United States.

Finally, he mentioned that an average American spends between 100,000 and 250,000 dollars on a vacation home in the country, so it is a good opportunity to generate real estate business.