Published On: Fri, Aug 11th, 2017

Real estate values rise in Merida

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The Federal Mortgage Society reveals that 15 states showed percentage changes higher than the national average in home values…

MERIDA — The price of housing with guaranteed mortgage loans in Mexico increased 6.90% in the second quarter of 2017 compared to the same period in 2016. In Yucatan, the municipalities of Merida and Kanasín show the highest increases.

Based on the report of the Federal Mortgage Society (SHF) of the Ministry of Finance and Public Credit (SHCP), in Merida surplus value rose to 6.95%, while in the municipality of Kanasin it reached 6.29%.

House in a New Real State Development in Merida (Photo: Google)

According to the agency, in the period between January and June 2017, the SHF index accumulated growth of 6.05% at annual rate.

The study reports that in the first half of the year, the average price of a home with mortgage credit in Mexico was $747,079 pesos ($42,000 USD approximately).

During the first six months of 2017, new home prices in the country increased 6.11%, compared with 5.98% over the first half of the previous year.

The SHF Index of Housing Prices observed different results by state in such a way that 15 entities showed greater percentage variations to the national average and 17 minor variations. With respect to the municipalities, in 34 of these the SHF Index grew above the national average and at 35 below.

At the national level, the SHF index of housing prices, single houses, condominiums and apartments with guaranteed mortgage loans, showed in the second quarter of 2017 an appreciation of 6.90% with respect to the same period of the previous year. Thus in the first half of 2017 the SHF Index accumulated an appreciation of 6.05% in the national scope with respect to the same semester of the previous year.

The SHF Index of Housing Prices presented the following results by state: In Baja California Sur housing prices increased by 7.90%, Mexico City 7.60%, Sinaloa 7.40%, San Luis Potosi 7.20%, Nayarit 7.20%, Nuevo Leon 6.90%, Yucatan 6.90%, Campeche 6.90%, in Colima 6.80%, in Michoacán 6.60%, in Quintana Roo 6.60%, in Guanajuato 6.50%, in Chihuahua 6.13%, in Zacatecas and Coahuila, the SHF Index increased 6.10% in both cases.

The municipalities that grew above the national average in the first half of the current year included the following:

Merida, Yucatan, grew by 6.95%; Kanasín, Yucatan 6.29%, while in Solidarity (Quintana Roo) 6.54%, and in Benito Juárez (Q.Roo) 6.52%. Campeche, Campeche grew 6.31%.




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