The Mexican economy this year will be able to achieve a year-on-year growth of 2.45%, according to the Bank of Mexico . Which would be close to the 2.5% achieved in 2015. One of the reasons for this result is the excellent development of the real estate sector in Mexico; Indeed, the Mexican Association of Real Estate Professionals (AMPI) foresees an evolution of 6% for 2016 , a positive percentage that continues the path of development verified since 2013, after a crisis caused by the collapse of the US real estate market.
Today, in several cities throughout the country, new real estate projects are being built that confirm the good situation of the sector. For 2018, the Association of Real Estate Developers (ADI) estimates that the investment will amount to 21 million dollars .
These cities have managed to attract large sums of money through investments, particularly thanks to good housing demand and excellent economic dynamism . Lamudi , the leading real estate portal in Mexico, identifies five of these cities where the real estate industry is experiencing accelerated development.
According to the results released by the 2016 Real Estate Outlook Outlook Report , Querétaro is the city in the country with the best real estate performance , where this sector contributes 9.7 percent of the state GDP . This performance is mainly due to demographic growth in this metropolis, which, consequently, generates demand for housing. Economic progress thanks to industrial development and real estate investments that generate attractive returns with low risk also explain the performance of the city's real estate market.
2. Mexico City
Mexico City, together with Jalisco, concentrates 65% of ADI's national investment , which is understandable if the growing demand for housing, commercial and office projects in the capital is taken into account . The boom that is being experienced in CD MX lately has been driven by the construction of malls , and this year around 5 thousand 500 million pesos will be invested for the lifting of these establishments, according to data from The Real Estate magazine.
It is in Mérida where there is also a constant growth of the real estate market, particularly, due to the urban expansion that is registered in the so-called White City. In 2015, the Merida Urban Development Directorate verified 2,597 new homes , which translated into 224,536.54 square meters of built area . Residential projects are concentrated, above all, in the north of the city. It is worth mentioning that Mérida now has almost the same extension as the metropolitan area of Guadalajara.
The real estate boom in Tijuana is undeniable. In 2015, the real estate sector grew 21% compared to 2014 . Indeed, buildings such as the more than 700 condominiums erected in 15 different projects between 2014 and 2015 confirm this progress. In addition, there is a new demand for vertical housing caused by new investments and the need to plan the urban development of the city. In the same way, the square meters destined for shopping centers are increasing.
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The industrial real estate market is the main responsible for the excellent situation enjoyed by the real estate sector in Monterrey. In 2015, 450 thousand square meters were sold , according to data from the consulting firm Jones Lang LaSalle (JLL) . One of the most important events has been the lifting of the KIA Motors, Ball Packagins and Navistar plants , among others.
The housing market is also having a positive impact, and this year the National Chamber of the Housing Development and Promotion Industry of Nuevo León foresees a spill of 70,000 pesos for the construction of residential buildings.