The Querétaro Real Estate Association (AQI) reported a decrease in the sale of “plus” homes, valued at approximately 20 million pesos.
President Guadalupe Zarazúa mentioned that this is because investors in these properties prefer to be cautious in the face of US economic policies. Therefore, this year the real estate agents’ association perceived a slowdown in transactions carried out in the state.
She indicated that 5 to 8 such transactions are carried out per month, and that this behavior could be influenced by economic conditions and the relationship with the neighboring country.
“We’ve had a steady increase in sales throughout the year, but not like last year. The average has decreased. The average sales volume is what’s reflected right now, more than in the number of transactions, in the average sales volume, which has been lower,” he said.
He explained that this situation could lead to closing 2025 with the same figures as the previous year, or even a 3 to 5 percent drop in real estate transactions.
In the first five months of the year, he said, 16,000 transfers of ownership were recorded in the public property registry, including residential, industrial, and commercial properties.
“And the root trend, driven by the generation of geopolitical instability and the ill-advised comments that have been made, perhaps—and this is very risky, and this is an opinion that doesn’t represent the association’s—it’s my opinion, perhaps it could represent a variation of one or two percent lower than last year.”
He noted that, in the housing segment, properties were valued at an average of 990,000 pesos last year and are currently at 1,074,000 pesos, reflecting an increase of almost 8.3 percent.
Residential housing prices, he said, have remained stable; in affordable housing, the entity reported an increase of 8.2 percent, however, in premium residential housing, a drop of 1.4 percent was recorded.
Source: adninformativo
