The purchase of own homes decreases to 62% and rented homes increase by 21%

According to the Real Estate Situation Report (INCOIN), in Mexico it can be seen how the end of 2021 entails a decrease in the price per square meter by 0.4%. On the side of increases, an increase of 0.5% in the housing stock was observed, with 1,552 active projects. In addition, a greater number of units entered and more projects sold.

In the fourth quarter of 2021, a total of 5,817 units were sold, of which 57% correspond to municipalities and 43% to Mexico City. you see one improvement in sales in relation to 2020, with 16% more, leading to figures that exceed the end of 2020 and are also close to 2019. The best-selling units (34%) are those that correspond to the Residential, Residential Plus and Luxury segments. This last segment has houses with surfaces of more than 300m2, with a value of more than 700 thousand dollars, rising to 4 thousand dollars per square meter.

Mexico has 61% of properties in the apartment segment and 39% in houses.

Mexicans’ tendency to rent

At the end of the year 2021, there is a trend that is divided, in 62% for the acquisition of own housing, while housing to rent 21.1%.

It is in this case that see a big increase in rentssince with regard to the year 2020, the trend percentages were different, with 15% of rented homes and 74.2% of own homes.

It was possible to observe how more than half of the owned homes were acquired through construction and not by purchase.

Why in recent years there is a preference for housing rentals in Mexico?

Within this 21.1% of rental housing, there are a variety of reasons for your choiceas it is:

• the not having access to a mortgage loan or the resources necessary for the acquisition of their own home, 51.4%.
• 22% assume that it is related to the ease of moving,
• in addition, 9.7% consider the monthly payment lower than owning a mortgage,
• another 5.4% admit feel no interest for buying a house,
• other subjects prioritize investing in themselvessuch as business, travel and study (3.3%),
• and the remaining 8% explained having others reasons.

2022 starts with a historic peak in searches for homes to rent in the country

At the beginning of 2022, a large increase in the search for rental housing is in sight, the Inmuebles24 platform clarifies that although, at the beginning of the year there is an increase in the search for rent, it considers the January 2022 as the peak of searches to rent a home in Mexico.

One of the most expensive places in the country is the Polanco Chapultepec neighborhood within Mexico City and outside of it, the Miguel Hidalgo delegation.

On the other hand, with regard to Guadalajara, the neighborhoods with the highest rental values ​​are the Minerva Zone and Zapopan Southeast.

A place where rents of lesser value are found, in the city of Querétaro.

It is important to keep in mind that Mexico City is one of the most populated cities in the world. This situation, added to the great development and growth of the population, affects the values ​​of housing costs. They impact by making them more expensive, even taking into account that they often exceed the average income obtained by Mexican citizens.

Why do the sale prices of homes in the country increase?

There is in the country a gentrification processwhich deals with the renovation of old urban centers, transforming both building and social and cultural structures, which makes it difficult for citizens to acquire decent housing in the city, since, by centralizing the places of interest, sources of work, etc., they hinder the development of other areas and further mark the inequality between the population.

It is for these reasons, added to the fact that the market and the economy They are handled in relation to supply and demand, which increases the prices of both housing and products and services. With regard to the real estate sector, one more element is added, the Location. You can find places where you can rent for 3,000 pesos a month, while there are other areas where rents are more than 20,000 pesos. According to the INEGI data registry, Mexico City has 1,494.3 km2, but this number does not represent the total number of areas that do have a infrastructure level like the one found in the neighborhoods of the center, which makes the houses in that area and surroundings more expensive.

As a consequence of these situations, plus the Covid-19 pandemic As another factor that affects this sector, it is difficult to acquire a home.

It should be noted that there are options that are more accessible within the city. There are colonies that are rented with more sustainable prices than the most central and popular ones, the only one against them is the distances with the work of each Mexican.

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