The luxury housing segment was one of the most affected by the health crisis, registering a 15% drop in its operations, according to Sonia Cabrera, CEO of Luxury Habitat Real Estate Mexico.

In the last year a buyer's market has been observed that is characterized by speculation and thus they take the opportunity to acquire properties in opportunity.

"It is time for buyers, where surely you are going to receive low offers because there are people who are speculating and are buying at the opportunity," he said.

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In this sense, experts predict that 2022 will be a good year for luxury housing, as factors such as contained demand could be key to triggering the dynamics in this sector over the next year. It is considered that there is a lot of money contained by people, due to the savings in expenses due to the brakes to travel, Cabrera explained.

He added that there are some cities that have shown potential for luxury housing. Such as Toluca, Puebla and Querétaro; as well as Mérida and the Riviera Maya region.

Another city that we have seen well is Cuernavaca, which has a good performance and with all this remote work issue it exploded very well ”, he explained.

For his part, Yacky Cossio, a real estate entrepreneur specializing in the luxury housing segment, pointed out that at the end of 2021 a better scenario is already perceived for the segment. And he highlighted that important changes have been observed that give rise to thinking about a 2022 with better performance.

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Meanwhile, Rodrigo Pérez del Toro, commercial manager in Mexico at Sotheby’s International Realty, asserted that the luxury housing segment moves in cycles of confidence. However, he commented that today is perceived as a great time to invest in this segment.

“It is a market that is governed by cycles of trust. There are periods in which confidence is generated to be able to invest and there are periods in which people prefer to wait with their money, and the socio-political issue caused a lot of mistrust, which in turn is an opportunity for those who want to get a property, it is a good time to invest ”, he considered.

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