Job Discussion Forums

rafomania · Joined: 25 Mar 2005 Posts: 95 Location: Guadalajara

Hi, ill try again.
Im interested in getting some data for property price trends. By what percentage are houses and flats increasing or decreasing. Maybe you know of a website with this info cos I cant find anything. Ive got a feeling that this type of data might not get recorded officially.
btw Im interested in Guadalajara.

cheers
Very Happy

thelmadatter · Posted: Sat Feb 07, 2009 4:22 pm Post subject: info

I have always found it difficult to impossible to find the kind of statistics and information you are looking for. It doesnt seem to be as ingrained in this culture to compile such things.

You can try INEGI's website (the census people) but dont be surprised if you dont find what you are looking for.

If you are in Guadalajara, make visits to developers and real estate people to get a sense of what the markets are. In other words...lots of legwork, esp. if you are looking for lower-priced properties. That is how I found my apt. Check newspapers (is there a Segundo Mano for GDL?) as well. Check Craigslist for GDL too. Craigslist is much smaller in Mexico than in the US but it is growing rapidly.

There have been books publish in the States about buying property "south of the border" but they mostly target those buying very upscale realty.

Samantha · Joined: 25 Oct 2003 Posts: 2038 Location: Mexican Riviera

Prices are definitely not decreasing in our area. I suspect it's the same throughout Mexico, but by what percentage it's been increasing would be difficult to pinpoint and would vary quite a bit with private sale, realtor sale, location, condition, etc. I agree that the realtors would probably be the best source for what the trend has been. Find one that has been around awhile and has a good reputation.

TheLongWayHome · Joined: 07 Jun 2006 Posts: 1016 Location: San Luis Piojosi

thelmadatter · Posted: Sun Feb 08, 2009 12:02 am Post subject: land speculation

If I had the money right now, I would buy land between Mexico City and Toluca west and possibly east of the city into Chalco. I prefer the west because of the explosive growth of Mexico City and regular-Jose workers there needing more affordable housing than can be had anywhere near there. Commuting by car into Santa Fe is not too bad via the Toluca-Mexico City highway and the eastern edge of Toluca is growing towards da Big Ciudad. I like Ocoyoacac, lots of buses between there and Mexico City as well.

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

Sounds like Metepec fits your bill. There is a lot of development there with people thinking exactly as you do...commute into Santa Fe to work. Much easier than living in east Mexico City or Satelite for example, and commuting.

I suspect we'll see a slow down on the rise of home prices. The economic slump is taking it's toll here too. There is an ongoing construction boom in Mexico City, but I have to imagine a lot of funding has dried up over the last few months. I'm looking at buying a home right now as a mater of fact. I'll be happy to report back on the experience...

justaprofessional · Joined: 27 Nov 2008 Posts: 22 Location: London

Interesting times.

fladude · Joined: 02 Feb 2009 Posts: 432

I'd be pretty leery of buying real estate south of the border at the moment....

With Florida condo's going for less than condo's in Panama or Nicaragua at the moment... (and we aren't at the bottom yet) it's hard to imagine that there won't be a "correction" everywhere else. A lot of the coastal development, especially, was supposedly targeting retirees. Its hard to imagine that people who never left their home country are going to retire somewhere else where prices are higher and where they don't speak English. I'm anticipating total crash in most of the developing coastal condo's throughout Central America (and Colombia if Charlie doesn't hold up the prices).

Guy Courchesne · Joined: 10 Mar 2003 Posts: 9650 Location: Mexico City

Always good to be wary, but it's helpful to remember that the vast majority of 'south of the border' is not coastal but made up of metropolae, small towns, and farmland.

A total crash here would only follow a total crash in the US and Europe...a very worst-case scenario that is highly unlikely in my opinion.

fladude · Joined: 02 Feb 2009 Posts: 432

rafomania · Joined: 25 Mar 2005 Posts: 95 Location: Guadalajara

I think the best is to visit realtors and get their views then. Thanks though everyone

Samantha · Joined: 25 Oct 2003 Posts: 2038 Location: Mexican Riviera

fladude wrote:

MELEE · Posted: Mon Feb 09, 2009 4:29 pm Post subject:

thelmadatter · Posted: Mon Feb 09, 2009 6:01 pm Post subject: metepec

Samantha · Joined: 25 Oct 2003 Posts: 2038 Location: Mexican Riviera

Much land, especially farm land, in Mexico is classified as "ejido". It's really important to have a competent notario when contemplating a land purchase. He will be able to tell you if it is classified ejido or if it has been through the lengthy process to make it legally marketable. Unsuspecting foreign buyers are regularly relieved of their money when buying privately and not understanding what ejido land is, or that they may never be able to get title to the property. This article below outlines the steps required.

http://www.davidspencerlaw.com/purchasing-ejido-land.html