Mexico´s housing market has shown robust growth for them in recent times, as economic conditions in the country witnessed significant improvements. Irrespective of the uncertainty patterning real estate development in the areas affected by the massive earthquake of September 2017, Mexico´s residential market remained strong after the quake.
Due to this, some areas in the country were affected such as Mexico City had significant declines in the demand for real estate with significant increase witnessed in other neighborhoods as well as increased housing prices in those areas. A recent study conducted by the Mexican Secretariat of Welfare recorded that Mexico has an enormously strong domestic market. Most Mexicans who move generally prefer to buy rather than to rent. Around 82% of Mexicans want to buy a property, as opposed to 18% that prefer to rent.
Considering the fact that the Mexican market is not driven by spectators, rather by real estate developers and of course it is very competitive. With many houses built and listed in the market, home prices are bound to fall. This fluctuation in homes real estate for sale affects the prices of house Mexico are mostly due to the market´s supply and demand with a minimum percentage of the speculative purchase.
Here are some of the prices and description of real estate in some selected areas in Mexico on offer for sale.
Regarded as one of Mexico City´s modern districts, properties in Santa Fe can be bought at an average price of US$ 3,500 per sq. m., making it easy for low-income earners to at least have a place t call their own to be enjoyed by both friends and family.
This capital of the state of Morelos is located about an hour and a half drive from Benito Juarez International Airport in Mexico City. It is home to luxury homes are available at prices above US$ 1.5 million. Low-end three-bedroom homes can be bought starting from US$ 200,000, while mid-range houses with three to four bedrooms are priced at US$ 500,000.
Playa del Carmen
This coastal resort town along the Yucatán Peninsula´s Riviera Maya is possessed with a three-bedroom apartment which is priced at US$ 460,000. In addition, some gated community of resort developments in the town boasts of a four-bedroom luxury and well-furnished home lists for US$ 1,500,000.
This two-bedroom townhouse in the exclusive gated community of AldeaZamá can be bought for below USD 500,000.
In Cancún, a city in southeastern Mexico known for its beaches, mega-resorts, and frenetic nightlife, the average price of houses was at around MXN 4.7 million (US$ 241,647). Apartments in the area are valued at an average price of MXN 4.6 million (US$ 235,789).
Conclusively, Like any other country in the world, Mexico is not perfect but there are lots of perfections yet to be explored, enjoyed and why not get a once in a lifetime experience. Visit the country today and enjoy all that nature has to offer and plenty more.