In the first half of the year, rental and sale prices in three of Mexico’s main cities (Mexico City, Guadalajara, and Monterrey) have followed the trend observed since the end of last year.
According to Inmuebles24, Monterrey stands out with the highest prices for both rent and sale per square meter.
According to data from the online real estate classifieds portal in Mexico for the month of June 2024, average rental prices in Mexico City for a 65 m² apartment with two bedrooms and a parking space are just over $18,000 pesos. For 100 m² homes with three bedrooms, prices are around $25,000 pesos. These prices vary depending on the area of the city.
Meanwhile, in Guadalajara, transportation and urbanization projects are driving real estate growth in peripheral areas such as Tlaquepaque, Tonalá, Tlajomulco, and El Salto. Currently, average rental prices in the city range between $15,837 pesos for 65 m² properties and $22,272 pesos for 100 m² properties.
Meanwhile, Monterrey, known as the Sultana del Norte, has average rental prices between $23,803 pesos for 65 m² homes and $32,575 pesos for 100 m² homes. The demand for housing near industrial areas and technology parks influences these costs.
The housing supply in Mexico City has tended to decrease in square meters and increase in vertical buildings. Prices per square meter in the capital vary between $45,814 pesos for 65 m² homes and $50,800 pesos for 100 m² homes.
In Guadalajara, home sales prices are higher than in Mexico City, but lower than in Monterrey. The average price per square meter for a 65 m² home is $53,853 pesos. According to the City Manager of Inmuebles24 in Guadalajara, there is considerable investment in new luxury vertical housing developments in central areas such as Nuevo Polanco, Jardines de Country Club and Providencia.
And in Monterrey, San Pedro Garza García continues to be the municipality with the highest costs. In addition to the demand for housing in industrial areas, real estate projects that incorporate sustainable and more energy-efficient technologies stand out. Average prices per square meter in Monterrey range between $66,308 pesos and $74,802 pesos.
Source: realstatemarket
