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Mexico shows real estate sales increase, but not in luxury properties

Mexico City, Mexico — The government of Mexico reports a significant increase in real estate sales around the country, but a decrease in sales in luxury properties.

Mexico’s government housing branch, Fondo Nacional de Habitaciones Populares (FONHAO), reports that during the first month of 2018, housing sales for homes priced between 269,000 peso and 421,000 peso increased 57 percent.

They also report that sales for higher-end homes valued at more than 3 million peso or approximately $165,000 USD, dropped 40 percent compared to January of 2017.

Using figures from the National Housing Commission, Realty World says that the sale of economic homes made an important rebound in the first month of this year due to the increase in less expensive new homes and government subsidies.

They say that for this year, 9,972 economically priced homes were added to the market with an additional 2,704 subsidized houses, leading to the increase in sales.

They report that of the sale increase, 70 percent were for new homes, while 30 percent were sales for previously lived-in homes.

Figures also show that for residential plus housing, or high-end homes exceeding 3 million peso, sales dropped 40 percent in January of 2018 compared to January 2017. Numbers from the National Housing Commission show a sale drop from 611 plus homes to 369.