Background on the Real Estate Market in Querétaro
Querétaro, Qro. This year, real estate agents in Querétaro have observed a decrease in the dynamism of operations within the entity, which may result in closing 2025 with similar figures to the previous year or even a 3-5% decrease in real estate operations, estimated Guadalupe Zarazúa, president of the Queretaro Real Estate Association (AQI).
First Half-Year Performance
In the first five months of the year, approximately 16,000 domain transfer operations were recorded with the public property registry (including residential, industrial, or commercial properties).
Projected Year-End Performance
Zarazúa anticipates that by the end of the year, operations may close at around 30,000 to 35,000, or slightly less due to the general national and global economic slowdown along with uncertainties surrounding commercial relations with the United States, which discourages client investments.
Factors Influencing the Market
The sluggish economic activity at both national and global levels, along with uncertainties in commercial relations with the U.S., has contributed to this trend. However, the real estate sector remains active.
Housing Market Price Trends
Zarazúa mentioned that, in the housing segment, property values have increased by nearly 8.3% from an average of 990,000 pesos last year to currently 1,074,000 pesos. Meanwhile, the prices of residential plus properties have dropped by 1.4%.
Slowdown in High-End Housing Market
The high-end housing (plus) segment has experienced very low activity, with only 5 to 8 operations per month. This sluggishness might be influenced by economic conditions and the relationship with neighboring countries, as cautious clients limit their investments.
New Developments and Client Concerns
The AQI has identified around 200 new developments in Querétaro, mainly located in El Marqués, with an average price of 1.3 million pesos.
Arturo Hernández, a member of AQI, estimates that there are approximately 400 cases related to complaints about real estate investments, focusing on four developments. This accounts for roughly 1.3% of annual real estate operations, and these complaints negatively impact the real estate sector’s reputation.
Key Questions and Answers
- What is the current state of Querétaro’s real estate market? The market has experienced a decrease in activity, with approximately 16,000 operations in the first five months of 2023. Agents predict a slight decrease or stagnation by the end of 2025 due to national and global economic slowdowns.
- Which housing segments are affected? The high-end housing (plus) segment has seen a significant slowdown, with only 5 to 8 operations per month. Meanwhile, standard residential properties have experienced a price increase of nearly 8.3%.
- What are the concerns of clients in Querétaro’s real estate market? Clients are being cautious with their investments due to economic uncertainties and the relationship with neighboring countries. There are also concerns regarding potential fraud in real estate developments, which negatively impacts the sector’s reputation.
