Mexico Real Estate Outlook. Second Semester 2024

Summary

The accumulated Construction GDP grows 10.1% in the second quarter of 2024, with increases in all subsectors. In a change of trend, the mortgage market is now increasing 2.2% in real amount and is set to continue advancing

Key points

• Key points:
• The accumulated Construction GDP as of 2Q24 grew 10.1%, as a result of an increase in Civil Works of 22.9% and Building of 7.6%
• The mortgage market grows 2.2% in amount and 11.4% in number of loans in the first semester of 2024
• In seven of the 32 states, bank mortgage loans continue to grow, while employment with incomes greater than 5 UMA grows more in states in the north of the country.
• Housing prices increased 56.9% from 2016 to 2022, but family income only increased by 2.5% on the national average in that same period
• Homes for short-term rentals in Mexico City increase 50% in four years; influencing the demand for housing and its price

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