The conditions facing the housing sector in Mexico are causing housing prices to continue to rise; however, some states in the country stand out more than others due to various factors, such as a dynamic demand that exceeds supply or even the construction costs for developers in those regions.
A few days ago, the Banorte Housing Price Indicator (Inbaprevi), prepared by the financial institution, was presented to the media. It provides information on housing prices in 15 states.
According to Inbaprevi, housing prices in Mexico increased 8% annually during February, reaching an average value of 30,390 pesos per square meter (m2). This increase compared to the previous month was 0.5 percent.
Thus, six of the 15 states analyzed exceed the national average housing price per m2. These states are:
Mexico City with 56,411 pesos per m2.
Nuevo León with 51,288 pesos per m2.
Jalisco with 46,024 pesos per m2.
State of Mexico with 37,920 pesos per m2.
Baja California with 37,843 pesos per m2.
Regarding the other states, which do not exceed the national average per m2, the following stand out: Yucatán with 27,613 pesos per m2; San Luis Potosí with 26,527 pesos per m2; Puebla with 24,747 pesos per m2; Querétaro with 24,371 pesos per m2; Guanajuato with 21,009 pesos per m2; Hidalgo with 20,674 pesos per m2; Sonora with 20,342 pesos per m2; Morelos with 20,034 pesos per square meter, and Tamaulipas with 16,777 pesos per square meter.
According to the indicator, housing prices in Morelos showed the highest monthly growth last February (1.8%), while Hidalgo saw the steepest decline, at 1.4 percent.
Source: eleconomista
