Homes in La Paz among the most expensive in the country

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The high cost of construction materials in the state increases the final prices of new houses

La Paz, Baja California Sur.- In recent years, the value has increased in Baja California Sur. Some homes have reached costs that exceed one million pesos; which has implications for workers to acquire a house.

In this sense, the regional delegate of the National Housing Fund Institute for Workers (INFONAVIT), José Alberto Ceseña Cosío, expressed that there are several factors to which the increase in the cost of homes is attributed; after this, difficulties arise around the placement of credits.

“Each of the materials that are used for the construction of housing have high costs, mainly due to the remoteness of the peninsula; and there are no steel industries in the state for the production of steel, the main component for castles, rods, nails, and different elements that are used for construction. We also do not have cement plants; therefore, it costs to bring these materials. That is, the factors mentioned above are external to INFONAVIT, but it has availability for those who request their credits and can find the housing that best suits their needs,” he detailed.

For example, the high costs of materials for construction due to the location of the half peninsula, such as land, have caused the connection and feasibility of water to rise a lot; as well as the materials that in our state increase by 30%, due to the transfer of the same.

Ceseña Cosío, added that around 12,362 workers can access a credit of more than one million pesos to acquire a home, so 81,014 workers could obtain a lower credit.

Likewise, during 2022, 1,766 mortgage loans were placed such as: Traditional Credit, Unamos Credit, Crediterreno and Crediterreno for my home. About this, 1,388 non-mortgages refer to: MejoraSi, Mejoravit Repara and Mejoravit Renueva; with a mortgage spill of 1,449 million 275 thousand 444 pesos and 63 million 381 thousand 373 pesos in terms of non-mortgage, thus obtaining a total of 1,512 million 656 thousand 817 pesos in total.

Also, the delegate highlighted that in the year 2023 they placed 1,716 mortgage loans and 1,517 non-mortgage loans, thus obtaining a mortgage spill of 1,583 million 83 thousand 239 pesos and in non-mortgage loans 99 million 332 thousand 105 pesos, with a total 1,683 million 135 thousand 344 pesos.

If we make a comparison of 2022 and 2023, we will obtain as data that in 2023 79 more credits were consolidated than in 2022, in terms of non-mortgages 129 more credits were positioned in 2023, declared Ceseña Cosío.

NEW PROJECTS FOR 2024

The regional delegate stated that they are currently under the planning of projects according to the needs and requests issued by INFONAVIT beneficiaries, established in Baja California Sur.

“There are some projects with opening in 2024 that estimate an approximate of 3 thousand homes in the state; which will be located in La Paz, San José del Cabo and two in Guerrero Negro. With which it is estimated to satisfy the estimated demand for 2024 of mortgage loans,” he said.

He added that if you want to know the different credit options that Infonavit offers for workers, you can enter this website, or visit the facilities located in Plaza Paseo La Paz, Libramiento Daniel Roldán #1515 Col. El Zacatal. La Paz.

TOURISM, MAIN FACTOR OF INCREASE IN VALUE

Last year, the average peninsula found itself with a higher value than the national average, with a percentage of 17.9%. This is because the state is recognized as a strong tourist sector; in fact, during the first half of 2023 it ranked as the tourist location with the highest capture of new investments in all of Mexico.

Likewise, according to the Federal Mortgage Society (SHF), the municipalities of La Paz and Los Cabos, together with Benito Juárez in the state of Quintana Roo, were the entities where the cost of the houses acquired through a mortgage loan increased the most, during the first 3 months of last year. In that same semester, the state capital was the most expensive place to buy a house, obtaining a 18.1% increase in value.

On the other hand, the Ministry of Economy in Mexico pointed out that hotel complexes, pensions, guest houses, as well as furnished apartments and houses with hotel services, correspond to the branches with the highest amount of Foreign Direct Investment (FDI) in Baja California Sur.

Thus, the tourist factor that stands out among the South Californian population plays a very important role in the increase of the value and, therefore, the increase in the cost of housing as such.

Source: El Sudcaliforniano