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Property prices on the rise in Yucatan

by Yucatan Times
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In the third quarter of 2023, Yucatán was among the 15 states with the highest increase in the price of mortgage housing, with the value of the “ticket” reaching one million and 600 thousand pesos, 11% than in the same period of 2022.

The increase derived from factors such as inflation and the rise in interest rates was slightly below the national average in that period that was 11.2%.

However, in the country, some states considerably exceeded this index. Baja California Sur, Quintana Roo, and Sinaloa are the three states with the largest increase in housing prices with 18%, 16%, and 15%, respectively.

While with the lowest price increases were Puebla and Tlaxcala with 7% and the State of Mexico with 6.4%.

According to the summary of the Housing Price Index in Mexico for the third quarter of 2023, released yesterday by the Sociedad Hipotecaria Federal (SHF), in the breakdown by municipalities, Mérida and Kanasín stand out, with an increase in housing prices of 11.2% and 9.8%, respectively.

Quintana Roo presented an increase of 16% (Benito Juárez and Solidaridad presented an increase of 16.2% and 15.5%); In Campeche the increase was 12% compared to 2022.

According to the SHF report, the average housing price nationwide was 1,607,874 pesos at the end of the third quarter. In the first nine months of the year, 25% of the operations were carried out for a value equal to or less than 639 thousand pesos, while 50% were below 937 thousand pesos, and 75% were sold for less than one million 830 thousand pesos.

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