Home Headlines Yucatan home prices rising

Yucatan home prices rising

by Magali Alvarez
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The National Chamber of the Housing Development and Promotion Industry (CANADEVI) announced that for the second half of the year, housing prices are expected to stabilize in Yucatan, where despite inflationary adjustments in the value of construction inputs, an average price increase in new homes of 8% will be registered, 3 percentage points below last year’s figure.

The business organization recalled that last year’s average inflation was 8%, but the cost of inputs, mainly cement, was 16%, which impacted the final public prices of housing in the state by 11% on average.

Information from the National Consumer Price Index (INPC), the annual accumulated inflation for the first two weeks of April was 6.24%, or 0.16 basis points, compared to the last measurement, well below last year’s 8%.

he president of the CANADEVI Yucatan delegation, Sergei Lopez Canton, pointed out that much of the increase in real estate prices is particularly linked to inflationary spirals, since these indicators affect the final prices of raw materials used to build houses.

Despite the increase, the tendency is downward.
The business leader recalled that since last year, due to the effect of the increase in inputs such as steel, concrete, and electrical materials, the cost of new houses had an acceleration greater than the inflationary spiral, so according to the trend in the stabilization of the CPI, a downward trend is estimated.

According to our projections, López Cantón added, the conditions are already in place, we expect that for the second half of this year, there may be a downward trend, “even so we will have significant increases, but the expected price increase is 8%, well below last year’s 11%.

This year, developers expect to make more than 8 thousand homes available to the public, generating an investment flow of 9.3 billion pesos.

TYT Newsroom

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