The residential property market in Mexico remains strong, despite forecasts that the earthquake in September 2017, which caused serious damage and killed more than 300 people, would lead to a decline in some areas.
According to the owner and broker at Peters & Romero Bienes Raices, a local real estate agency, Carmella Peters Romero, prices have been continuing to grow for many years. Although buyers are now negotiating more aggressively. But the market has recently slowed slightly due to the upcoming presidential elections on July 1.
The two most attractive residential areas of Mexico City — Polanco and Lomas — have become even more popular, since they are built on earthquake-resistant rocks. Surprisingly, two areas that have suffered significant damage, Roma and Condesa, also continue to attract buyers who are now more concerned about the quality of construction.
There is a much greater interest in building a low-rise building with at most four floors. However, before the earthquake, the most demanded were high-rise buildings and penthouses in high-rise buildings.