Home Headlines Querétaro’s Real Estate Market grew 8.4% in 2016

Querétaro’s Real Estate Market grew 8.4% in 2016

by sanmigueltimes
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QUERÉTARO, Qro.- During last year, the Real Estate Market in Querétaro grew 8.4 percent, resulting in a significant economic impact of 23.9 billion pesos (1.1 billion USD).

“In 2016, a total of 23,983 sale operations were closed within Queretaro’s metropolitan area”, said the head of the Sustainable Development Secretariat (Secretaría de Desarrollo Sustentable, Sedesu), Marco Antonio del Prete Tercero, during the “Vive Bio Project” presentation.

The state official explained that, the real estate sector represents an 8.5 percent of the total of Querétaro’s Gross Domestic Product (GDP), with 33.66 billion pesos (1.5 billion USD), while the construction sector contributes with 12.7 percent of GDP, 51.1 billion pesos (2.5 billion USD).


Social homes (Image: El financiero.com)

He stressed that, “During January 2017, entrepreneurs from Querétaro have generated 8,903 new jobs, representing a growth of 7.8 percent, so Querétaro is placed on fourth site in employment generation nationwide “.

Currently, 701 people work formally in services related to real estate, while 51,240 work in the construction sector, representing almost 10 percent of the total number of formal workers in the state.

On the other hand, Marco Antonio del Petre added: “According to the inventory of housing in force,  a total of 26,347 homes were made available for sale in the month December 2016.

The municipality with the highest housing offer is Querétaro with 13,400 properties, followed by El Marqués with 5,882, Corregidora with 3,778, San Juan del Rio with 2,882 and the rest of the state with 839.

Source: http://www.elfinanciero.com.mx

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