The average price per square meter of housing in Mexico City reached 56,811 pesos in June, a figure that places it as the most expensive entity in the country, according to a report of the Banorte analysis area.
81.6% of the offer corresponds to departments and the rest to houses, while 22.4% of the properties for sale are between 20 and 50 years old, and 20.8% correspond to new housing, according to an indicator created by the financial group.
In front of May, the average price per square meter in June grew 0.30%, and in the accumulated between July 2024 and June, the increase was 3.6%, slightly greater than 3.4%observed nationwide.
Banorte indicated that in June the price of housing nationwide per square meter was 30,694 pesos, a variation of 0.4% compared to the previous period and 3.5% at an annual rate.
From the analysis of 15 entities in the country, it also highlights that Tamaulipas has the lowest price per square meter (17,624 pesos), Nuevo León is the entity with the highest growth rate compared to the previous month, (1.1%) and Hidalgo had the largest fall (0.6%).
“These figures reflect the remarkable disparity in the cost of housing between the different regions of the country, influenced by factors such as the location, demand and characteristics of the real estate,” Banorte said in his analysis.
The prices in Yucatán and Sonora presented increases in the last year of 8.7% and 6.3% respectively, positioning as expanding real estate markets.
Last week protests in Mexico City were carried out against gentrification that resulted in vandalism and robbery, according to press reports.
LEE: CDMX in front of Gentrification: A window to transform the urban model
The tendency of gentrification, characterized by the progressive substitution of historical residents by new inhabitants with greater purchasing power, is manifested through a gradual increase that makes housing inaccessible to many neighbors, without the need for forced eviction.
In this regard, Luis Antonio Ramírez García, a specialist in public policy from the University of Georgetown, indicates that Mexico City experiences a deep reconfiguration of its central spaces that transcends traditional dynamics of urban development.
He says that emblematic colonies such as Rome Norte, Rome Sur, Condesa, Juárez and Hipódromo have seen the processes of unequal urban transformation intensify with an unprecedented speed, generating both revitalization opportunities and significant challenges for the right to housing and social sustainability.
Little text and great information in our X (formerly Twitter), follow us!
