Background on the Developer and Relevant Context
In Puebla, Mexico, the scarcity of land for new housing construction, particularly vertical developments, has prompted developers to repurpose old plots with abandoned mansions or factories dating back 60 years. This strategy has led to the revitalization of traditional colonias in the city center.
Who is Ariosto Goytortúa López?
Ariosto Goytortúa López, the local president of the National Chamber of Development and Promotion of Housing (Canadevi), has been instrumental in this housing development trend. His insights provide valuable context for understanding the current situation.
The Vertical Housing Offer
Goytortúa López explained to El Economista that finding land in the city center is challenging, so developers have turned to acquiring plots with unused buildings. This approach has resulted in approximately 2,000 apartments over the past four years, with prices ranging from 1.3 to 2.5 million pesos depending on the number of rooms and amenities.
- Approximately 2,000 apartments have been built in the past four years.
- Apartment prices range from 1.3 to 2.5 million pesos.
- 90% of these apartments have been sold, and 10% are in the process of being purchased.
Target Demographic and Impact on Property Values
The target demographic for these vertical developments consists of individuals who grew up in the city center but later moved to the outskirts. Now, with higher salaries from companies like auto parts and textile manufacturers that have recently settled in Puebla and its conurbated municipalities, these individuals can afford to buy apartments in the city center.
This vertical housing offer has significantly increased property values in central colonias, with some apartments and single-family homes appreciating up to 100%. Currently, these properties range from 350,000 to 450,000 pesos.
Additional Benefits and Challenges
Attracting Investments in Retail
Alongside the vertical housing offer, there has been an increase in retail investments such as supermarkets. This development benefits the surrounding areas by reducing the need for long commutes to access essential services.
By bringing services closer, these developments also create job opportunities for residents of the same colonias and housing units in the zone, supporting the overall growth and well-being of the community.
Challenges in Implementation
Despite the advantages, there are challenges in implementing these vertical developments. Some homeowners within small fractionated areas may resist new buildings due to concerns about reduced sunlight or traffic congestion during construction.
Goytortúa López noted that the current construction pace has slowed in 2025 due to difficulties in finding available land and the reluctance of owners to sell.
