Average Housing Prices by State (First Half of 2024):
- Description: This dataset presents the average cost of homes across various Mexican states during the first half of 2024, highlighting regional disparities in housing prices.
- Data Source: Federal Mortgage Society (SHF) via Mexico News Daily.
- Data Snapshot:
- National Average: 1.724 million pesos
- Highest Average Price: Mexico City at 3.933 million pesos
- Lowest Average Price: Durango at 1.134 million pesos
- Visualization Suggestion: A choropleth map of Mexico, with states color-coded based on average housing prices, can effectively illustrate regional price variations.
Annual Housing Price Growth by State (First Half of 2024):
- Description: This dataset details the percentage increase in housing prices for each state compared to the same period in 2023, offering insights into market dynamics and growth hotspots.
- Data Source: Federal Mortgage Society (SHF) via Mexico News Daily.
- Data Snapshot:
- National Average Increase: 9.5%
- Highest Increase: Baja California Sur at 14.7%
- Lowest Increase: Mexico City at 5.8%
- Visualization Suggestion: A bar chart ranking states by their annual housing price growth percentages can highlight regions with the most significant changes.
Construction Sector Growth (Second Quarter of 2024):
- Description: This dataset reflects the growth in Mexico’s construction sector, indicating trends in real estate development and infrastructure expansion.
- Data Source: BBVA Research.
- Data Snapshot:
- Overall Construction GDP Growth: 10.1%
- Civil Works Increase: 22.9%
- Building Construction Growth: 7.6%
- Visualization Suggestion: A stacked bar chart displaying the contributions of civil works and building construction to the overall growth can provide a clear picture of sector dynamics.
Mortgage Market Trends (First Half of 2024):
- Description: This dataset offers insights into the mortgage market’s performance, reflecting consumer confidence and accessibility to housing finance.
- Data Source: BBVA Research.
- Data Snapshot:
- Increase in Number of Loans: 11.4%
- Growth in Mortgage Amount: 2.2% in real terms
Average Housing Prices by State (Q3 2024):
The following table presents the average housing prices in various Mexican states during the third quarter of 2024, measured in million Mexican pesos:
| State | Average Price (Million MXN) |
|---|---|
| Mexico City | 3.91 |
| Baja California Sur | 2.34 |
| Querétaro | 2.19 |
| Yucatán | 2.06 |
| Morelos | 2.05 |
| Baja California | 1.94 |
| Jalisco | 1.88 |
| Sinaloa | 1.83 |
| Nuevo León | 1.78 |
| Nayarit | 1.76 |
| Quintana Roo | 1.75 |
| National Average | 1.73 |
| State of Mexico | 1.73 |
| Puebla | 1.65 |
| Oaxaca | 1.62 |
| Sonora | 1.60 |
| Guerrero | 1.57 |
| Michoacán | 1.57 |
| San Luis Potosí | 1.53 |
| Campeche | 1.46 |
| Chihuahua | 1.45 |
| Tabasco | 1.39 |
| Aguascalientes | 1.37 |
| Guanajuato | 1.37 |
Source: Statista
2. Annual Housing Price Growth by State (First Half of 2024):
The table below shows the percentage increase in housing prices for each state during the first half of 2024 compared to the same period in 2023:
| State | Annual Growth (%) |
|---|---|
| Baja California Sur | 14.7 |
| Querétaro | 10.5 |
| San Luis Potosí | 10.6 |
| Guanajuato | 10.6 |
| Aguascalientes | 9.2 |
| Jalisco | 9.2 |
| Puebla | 11.3 |
| Morelos | 9.6 |
| Hidalgo | 8.4 |
| Tlaxcala | 6.5 |
| Zacatecas | 6.7 |
| Mexico City | 5.8 |
Source: Mexico News Daily
Data Table: Population of Major Mexican Cities
| Rank | City | Population |
|---|---|---|
| 1 | Mexico City | 9,209,944 |
| 2 | Tijuana | 1,922,523 |
| 3 | León | 1,721,215 |
| 4 | Puebla | 1,692,181 |
| 5 | Ecatepec de Morelos | 1,645,352 |
| 6 | Ciudad Juárez | 1,512,450 |
| 7 | Zapopan | 1,476,491 |
| 8 | Guadalajara | 1,385,629 |
| 9 | Monterrey | 1,142,994 |
| 10 | Nezahualcóyotl | 1,077,208 |
Data Source: List of municipalities in Mexico by population
Based on data from the Economic Census 2019, the real estate sector in Mexico encompasses various subsectors, each contributing significantly to the national economy. The following table summarizes key economic indicators for these subsectors:
| Subsector | Economic Units | Total Gross Production (MXN) | Total Income (MXN) | Top Contributing State(s) |
|---|---|---|---|---|
| Real Estate | 43,039 | $129 billion | Data not specified | Ciudad de México ($48.7B), Nuevo León ($15.7B) |
| Real Estate and Rental and Leasing | 68,010 | $207 billion | Data not specified | Ciudad de México ($63.2B), Nuevo León ($21.2B) |
| Real Estate Agents and Brokers | 6,259 | $65.6 billion | $68 billion | Ciudad de México ($21.8B), Nuevo León ($9.08B) |
| Activities Related to Real Estate | 6,367 | $40.8 billion | $41.7 billion | Ciudad de México ($14.4B), Guerrero ($6.7B) |
| Rental and Leasing Services | 24,917 | $40.3 billion | $41.4 billion | Ciudad de México ($14.3B), Estado de México ($7.23B) |
| Consumer Goods Rental | 15,376 | $5.14 billion | Data not specified | Ciudad de México ($819M), Nuevo León ($462M) |
Note: The data above is sourced from the Secretaría de Economía.
For more detailed and city-specific real estate data, the following official government (.gob.mx) websites can be consulted:
- Ciudad de México: Secretaría de Desarrollo Urbano y Vivienda
- Estado de México: Instituto Mexiquense de la Vivienda Social
- Jalisco: Instituto Jalisciense de la Vivienda
- Nuevo León: Instituto de Vivienda de Nuevo León
- Puebla: Comisión Estatal de Vivienda de Puebla
- Baja California: Instituto de Vivienda de Baja California
- Guerrero: Instituto de Vivienda y Suelo Urbano de Guerrero
These sources provide comprehensive and reliable data on real estate activities, including economic units, gross production, and income across various Mexican cities and states
Economic Data Table: Real Estate Sector in Ciudad de México
| Indicator | Value (MXN) | Year |
|---|---|---|
| Total Gross Production | $48.7B | 2019 |
| Total Income | $50.6B | 2019 |
| Number of Economic Units | 3,973 | 2019 |
| Gross Domestic Product (Real Estate and Rental and Leasing Sector) | $2.8T (National) | Q2 2024 |
Data Source: Secretaría de Economía
Economic Data Table: Real Estate Sector in Monterrey
| Indicator | Value (MXN) | Year |
|---|---|---|
| Total Gross Production | $21.2B | 2019 |
| Total Income | Data not specified | 2019 |
| Number of Economic Units | Data not specified | 2019 |
| Gross Domestic Product (Real Estate and Rental and Leasing Sector) | $2.8T (National) | Q2 2024 |
Economic Data Table: Real Estate Sector in Guadalajara
| Indicator | Value (MXN) | Year |
|---|---|---|
| Total Gross Production | $456 million | 2014 |
| Total Income | $456 million | 2014 |
| Number of Economic Units | 1,370 | 2019 |
| Average Housing Price per Square Meter | €1,733 | 2024 |
| Average Rental Price per Square Meter | €9.17/month | 2024 |
Economic Data Table: Real Estate Sector in Querétaro
| Indicator | Value (MXN) | Year |
|---|---|---|
| Average House Price | $1,499,166 | 2019 |
| Median Apartment Price per Square Foot | $2,527 | 2024 |
| Median House Price per Square Foot | $2,115 | 2024 |
Data Sources: CEIC, Properstar
