ABOUT 14,000 HOMES ARE BUILT ANNUALLY IN QUERÉTARO, HOWEVER, THE COST OF MATERIALS HAS INCREASED IN RECENT MONTHS
The state of Querétaro has an annual production of 14,000 homes a year that are acquired through bank loans, reported Luis Alberto Moreno Gómez Monroy, president of the National Chamber of the Industry for the Development and Promotion of Housing at the national level.
“Querétaro has an annual production of almost 14,000 homes a year, in the best times in the state it was possible to build about 22,000 (…) Querétaro has a very particular characteristic where most of the homes are sold through bank loans and not mortgages” I express.
However, the production of these new homes have been affected by the inflationary impact that has been recorded so far this year, as well as the repercussions of the conflict between Russia and Ukraine that affected the increase in material costs.
Gómez Monroy highlighted that in the last quarter of the year increases began to be reported that had not been reported in the last 8 months, so the price of housing is expected to increase.
At the end of the year, the increases could be between 12 and 17 percent and this would mainly affect homes that, due to their construction, have a greater number of finishes.
Meanwhile, middle-income and low-income housing will not be reflected in these increases, due to the materials used to build them. However, he reiterated that cement, concrete, and steel were the most affected materials.
Cost of materials for homes in Querétaro
In contrast, he pointed out that during the past year only increases in housing between 3 and 7 percent were reported.
“Last year there was an increase of between 3 and 7 percent, but this year’s end it is estimated that it will be between 12 and 17 percent of the value of the property,” he said.
Despite this, Querétaro is not positioned within the states that have the highest housing costs, such as:
- Nuevo León,
- Ciudad de México
- Baja California.