Which are the cities with the most expensive housing in Mexico
The municipality of San Pedro Garza García, in Nuevo León, has the most expensive apartments in Mexico, at a price of 61,685 pesos per square meter, according to the real estate portal Propiedades.com.
Following a technical study, the platform calculated in US currency the price per property of the most expensive municipalities in the country, and to do it was based on the costs recorded on its page and converted it into pesos according to the exchange rate of the Bank of Mexico.
The list, made public by means of a communiqué, is followed by the city of Zapopan, in Jalisco, and the mayor's office of Benito Juárez in Mexico City, whose departments cost 56,977 and 53,201 pesos per square meter, respectively.
Within this section, also appear the municipalities Felipe Carrillo Puerto, Cancun, Playa del Carmen, and Othon P. Blanco, all belonging to the state of Quintana Roo.
As for the houses, the highest selling costs were concentrated in the Miguel Hidalgo city hall, in Mexico City, with prices of 48 thousand 149 pesos per square meter, followed by Isla Mujeres, Quintana Roo, and the Benito Juárez municipal government ( Cancún), with 48 thousand 029 and 46 thousand 554 pesos, in that order.
The list is completed by five mayorships in Mexico City: Álvaro Obregón, Cuauhtémoc, Magdalena Contreras, Cuajimalpa and Tlalpan.
Leonardo González, an analyst at Propiedades.com, explained that the real estate practice of assessing real estate in dollars operates as a mechanism for risk coverage and avoids the loss of wealth due to a weak monetary exchange rate.
He added that the above is only a reference value because the negotiation can be done in pesos, and thus limit the foreign exchange parity of the foreign currency since they are transactions that vary with each owner.
"The most active cities in the practice of dollarized appraisal observe a real estate cycle that is more open and vulnerable to the global environment."