Published On: Wed, Oct 3rd, 2018

Queretaro, second state with the highest housing price in the country

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Querétaro is the second state with the highest average housing price in the country, just below Mexico City.

During the second quarter of the year, Queretaro reported an average price of 1.2 million pesos per property, according to the Housing Price Index of the Federal Mortgage Society (Sociedad Hipotecaria Federal: SHF).

The central Mexico state remained in the second position that it held during the first three months of 2018, with a price of 1.18 million pesos, so from the first to the second quarter of the year, the price reported a variation of 2.3 percent.

According to the SHF Index, the annual rate for the first semester of 2018 was 9.6% in the state, above the national average of 9.3%.

Mexico City is the federal entity with the highest average price, which is 1.56 million pesos in the April-June period; in second position comes Querétaro and Morelos is third (1.10 million).

The lowest average price was observed in Tamaulipas with 594,551 pesos, Durango with 602,047 and Tlaxcala with 647,867.

“This year, real estate developers in the state report that the surplus value of homes has increased 10%”, said the delegate of the Institute of the National Housing Fund for Workers (Infornavit), Ricardo Alegre Bojórquez.

The increase of the surplus value of the houses in the state advances to the detriment of the workers who still can not acquire a housing unit and for the benefit of those who have already acquired a property.

(Photo: eleconomista.com.mx)

(Photo: eleconomista.com.mx)

“What I know from developers is that they bring capital gains, which is an advantage for the customer who has already bought, a disadvantage for those who have not bought, of 10%; The house you bought in January, at 500,000 pesos, in December is already worth 550,000 pesos. It is a matter of surplus value, “he said.

Added to this phenomenon is the rising cost of land and its impact on the deficit of affordable housing.

“The cost of housing and land, keeps going up in cities such as Queretaro, which are highly productive and with a potential for significant growth,” he continued.

“Infonavit currently shows 205,000 workers with a pre-authorized credit, and the number of workers with pre-authorized credits advances according to the job placement in the state”, Alegre Bojórquez concluded.

SMT Newsroom with information from: eleconomista.com.mx



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