Although the cost of construction materials increased by 3.27% in Mexico in February, this indicator decreased by 0.2% in Tampico.
This means that the port was one of the five cities in Mexico with the best price conditions in this area, revealed the Mexican Chamber of the Construction Industry (CMIC) in its report “Variations in the Price of Residential Construction.”
Where is it cheaper to build?
The good news is that in the greater Tampico area, the cost of construction materials even decreased by 0.2%, while labor costs increased by 3.3% and machinery rentals by 6.6%.
Other cities with low inflation in this sector were:
Ciudad Jiménez in Chihuahua with -0.5%
Fresnillo with -0.4%
La Paz with -0.3%
Jacona with 0.8%
The most expensive cities to build
Among the cities that recorded the largest increases in housing construction were:
Tepatitlán with 12%
Monterrey with 8.8%
Chetumal with 8.7%
Campeche with 6.6%
Tlaxcala with 6.5%
Regarding housing price variations, both the National Institute of Statistics and Geography (INEGI) and the Federal Mortgage Society (SHF) have their respective indicators.
The CMIC revealed that the measurements are carried out by the Chamber’s National Center for Cost Engineering (Ceico), without considering the value of the land, the cost overrun factor (direct cost, financing, profit, and additional charges), marketing, and appraisal, among other variables that can influence the price increase.
In Mexico, as of February 2025, labor increased by 5.99% and machinery rental by 7.63%. Thus, construction inputs have experienced a price increase nationwide, affecting projected budgets for this year, as well as for projects currently underway. Therefore, developers must update their construction budgets.
Companies have begun to produce more to avoid the greatest possible damage, anticipating impositions from the United States.
Cost of apartments in downtown Tampico
The president of the Mexican Association of Real Estate Professionals (AMPI) in Tampico, Brenda Dávila, noted that the cost of land and properties in 2024 has been higher compared to 2023.
“We are in communication with developers to prevent prices from exceeding the established amounts, as many people want to buy with Infonavit and Fovissste loans.”
The goal is to increase the number of homes in the downtown areas of Tampico, Madero, and Altamira, as this favors the real estate market.
“Real estate prices in these first months of 2025 have remained similar to those in 2024. In downtown Tampico, for example, there are new apartments ranging from 800,000 to 2.5 million pesos.”
Brenda Dávila mentioned that currently, most real estate sales are made through loans from Infonavit and Fovissste.
“Right now, people are buying more apartments than houses, as they are more affordable and tend to be better located.”
Source: oem
