Acquiring a new house or apartment in Mexico will be up to 13% more expensive in 2022, compared to 2021, reported the National Chamber of the Housing Development and Promotion Industry (Canadevi).

Luis Alberto Moreno Gómez Monroy, president of the institution, pointed out that this increase is due to the rise in the price of raw materials, noting that the increases depend on the sector in which it is being built and the time in which the work began.

Moreno Gómez reported that developers are betting on strategies so that new projects are not so affected, focused to a greater extent on the middle sector, which is the one with the greatest demand and represents more than half of current production.

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Finally, he confirmed that some developers have already applied said increase.

According to a calculation by the Federal Mortgage Society (SHF), real estate increased on average to 262,699 pesos in 2021.

The SHF indicated that Tijuana is the city where houses became more expensive; with an increase of 10.03% in the first nine months of last year.

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Guadalajara was placed in second place in the ranking, with an overall increase of 9.1 percent.

For their part, Tlaxcala and Monterrey ranked third and fourth, with an increase of 8.9% and 8.5%, respectively.

The metropolitan areas of León and Querétaro rose 7.1% and the Valley of Mexico had an average rise of 3.9% in costs.

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Original note