Baja California Sur holds the top position in Mexico with a 17.9 percent price increase, followed closely by Quintana Roo and Sinaloa at 16.5 percent, securing the second and third positions, respectively.

Nationally, the SHF reported that the average home price stood at 1,601,000 pesos during the first quarter of 2023, with a median price of 926,000 pesos. The SHF’s Housing Price Index revealed varying trends by state, with 16 states recording higher variations than the national average, while 16 states reported lower variations.

The nationwide SHF Housing Price Index displayed an overall appreciation of 11.7 percent in the first quarter of 2023 compared to the same period in 2022. However, during the first three months of 2023, there was an 11.5 percent decrease in the number of property appraisals compared to the same period in the previous year.

The SHF Index for new housing indicated a variation of 12.8 percent, while the index for used housing increased by 10.8 percent during the first quarter of 2023. Within this period, 60 percent of the market comprised used housing, and 40 percent was attributed to new housing.

The SHF Index for single houses grew by 11.8 percent, while the index for condominiums and apartments combined showed an appreciation of 11.6 percent. In the economic-social housing sector, the SHF Index witnessed an increase of 11.3 percent, and the medium-residential housing index rose by 11.9 percent in the period from January to March 2023.

When assessing mortgage loan prices from lowest to highest at the national level, it’s evident that 25 percent of transactions were conducted at a price equal to or below 626,000 pesos. The median price, at 926,000 pesos, indicates that 50 percent of housing transactions occurred below this threshold, while the other half was above it. Furthermore, 75 percent of homes were sold for less than 1,853,000 pesos, with the remainder fetching higher prices.

The increase in housing prices coincides with a macroeconomic environment where the Gross Domestic Product (GDP) recorded a 3.9 percent real growth in the first quarter of 2023 when compared to the same period in the previous year, according to the Timely Estimate of GDP published by the National Institute of Statistics and Geography (INEGI).

By municipality, Solidaridad, which encompasses Playa del Carmen in Quintana Roo, ranks fifth on the SHF Index with a price variation of 16.8 percent, making it the most prominent municipality in the state and the fifth highest in the country. The top-ranking municipality in the country was La Paz in Baja California Sur, with an 18.1 percent increase in home prices.

During the first three months of 2023, in comparison to the same period in 2022, the SHF Index documented price appreciation rates above the national average in 38 municipalities and below-average rates in 36 municipalities.

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**RIVIERA MAYA, Q.R. – The Mexican Association of Real Estate (AMPI) reports the establishment of a public registry for certified government-owned real estate. Public records are being consolidated, enabling buyers to engage licensed professionals while associations tackle illegal agents. Miguel Ángel Lemus Mateos, coordinator for Region 18 of the Association of Real Estate Agents in Mexico, stated that their efforts are aimed at combating real estate piracy through this registry.

“We will publish a register to let the market know who is recognized as real estate agents, thus countering empiricism and malpractice,” Remus Mateos affirmed. He pointed out that the Real Estate and Services Law of Quintana Roo, passed by the state Congress in 2014, forbids unlicensed individuals from practicing in the real estate business.

Lemus Mateos also emphasized that any professional intending to work in the real estate sector must register with the Ministry of Agrarian, Territorial, and Urban Development, a Mexican agency under the Urban Development and Housing Cabinet. “It is essential to ensure recognized representation from the national government, the public, and investors, including home and property buyers,” he added.

“To register as a real estate consultant, interested parties must individually submit the following documents, including a valid official photo ID, proof of residential address, proof of a clean criminal record, and proof of training and registration with the Tax Administration Service (SAT),” he explained. “Foreigners must establish their migratory status for gainful employment and meet minimum requirements for professional licenses with national institutions,” he added, noting that this activity is also regulated by the National Real Estate Board.

“To regulate this activity, the National Real Estate Council has been established as a technical support body for the Ministry, tasked with promoting research, analysis, professionalization, and decision-making regarding real estate services, under the guidance of the Secretary of Urban Development, Secretary of Government, Cristina Torres, Director of the National Property Registry, and representatives from organizations such as AMPI and CANACO,” he explained. According to Lemus Mateos, there are 665 certified real estate agents by AMPI (Mexican Professional Association) in Cancún, 131 in Playa del Carmen, 141 in Puerto Morelos, 35 in Tulum and Cozumel, 20 in Seoul, and 12 in Chetumal.

“Nationally, we have more than 3,000 federal certificates, and this year, we will begin issuing the first AMPI-UNAM diploma, so we are working diligently towards training,” he said.