During the first months of 2021, homes with mortgage credit throughout the country experienced a price increase of 8.4%.

This situation is caused by the combination of the inflationary increase, marked by the increase in the national GDP together with the increase in the cost of construction materials.

For the period, Sociedad Hipotecaria Federal (SHF) averaged the cost of real estate in 1,350,179 pesos. The figure, when compared with July, August and September 2019, represents an increase of 24.1%, when the price was placed at 1,087,340 pesos, that is, in just two years the house becomes more expensive 262 thousand pesos, almost a quarter of its value.

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Tijuana and Guadalajara are the metropolitan areas with the highest increase, while the development of Mexico City slowed down in 2020. In Tijuana, during Q3 2019 the price advanced 8.1% and from 2020 to 2021 by 10.3%.

In the case of the capital of Guadalajara, comparing the same periods, the increase was 11.3% from 2018 to 2019, for the following year it was 8.2% and from 2020 to 2021 it increased 9.1%, indicating annual data from the SHF index.

Mexico City, the fourth with the highest housing costs in the region, has also experienced growth, but each time to a lesser degree.

From 2018 to 2019, for example, the increase was 11.1%, the second highest in the country, only behind Aguascalientes. For the following year, it was 3.2% and from the third quarter of 2020 to the third of 2021 it was 3.9%.

Historically, used housing has been a little less in demand than new, but also with fewer increases in its value, until 3Q21, a period in which the preference for this type of property had a great growth and its price increase exceeded that of newly built buildings.

Of interest: How will Infonavit + Crédito Bancario benefit non-active beneficiaries?

During July, August and September of this 2021 of the houses bought with mortgage credit 61.3% corresponded to used ones, and their cost had an increase of 8%, while the value of the new ones increased 7%.

From 2018 to 2019, used properties represented 54.9% of the preference. That year, its cost had a positive variation of 8.7% and that of new housing of 9.1%.

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Original note