Home price could rise up to 4.6%

Analysts estimate the housing sector due to the USD vs MXN, prices could increase by around 4.6% this year.

According to information from “El Financiero”, Luis Medina, Manager of Market Research Softec, he explained that the materials used in construction such as cement and some finishes have risen in price; although most developers are making very gradual adjustments so that this does not have a direct impact on demand.

Fernando Abusaid, President of the National Chamber of Industry, Development and Promotion of Housing (Canadevi) pointed out that only some products such as steel, copper and aluminum are dependent on the USD and the rest are domestic products, so there will be a significant increase in the price of houses.

“The slip of the foreign currency impacts only three products: Steel, Copper and Aluminum. It has always boasted that our industry has domestic supplies in nearly 100 percent. At this stage, foreign pricing is impacting these inputs, but does not represent us a great impact.

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