Nuevo León’s housing sector foresees growth

Nuevo León’s housing sector foresees growth

NUEVO LEON – The housing sector in Nuevo Leon has a good growth forecast for the second half of the year of 5.8% of the Gross Domestic Product (GDP), however, this recovery could slow down in 2022 if there is a new wave of Covid-19, said Jorge Paredes Guerra, president of Realty World Mexico.

"The growth forecast is 6% of GDP by 2022, what can slow down the recovery of the sector is the pandemic," he said.

He mentioned that in the first quarter Nuevo Leon maintained its leadership in new housing in the country, with the placement of 9,414 units, which represented a decrease of 2.5% compared to the same period last year, followed by Jalisco with 6,571 homes placed and a slight decrease of 0.2% in the same period, and the State of Mexico with 5,195 units and a growth of 8.3%.

"There is a direct correlation between this fall in new housing due to inflation, in addition to the fact that the Bank of Mexico increased interest rates by 25 basis points," the executive emphasized.

In terms of used housing, Chihuahua was the leading entity with 3,427 units placed, followed by the State of Mexico with 3,214 homes, and in third place Nuevo Leon with 2,962 homes.

Source: El Economista