Despite the doubts created by Tesla’s investment announcement in Santa Catarina, the Monterrey real estate business maintains its dynamism. Whether offices, industrial warehouses or housing, Monterrey is experiencing historic levels, beyond the uncertainty about the Tesla case.
The reasons are multiple. In the industrial parks distributed in nine corridors (including Monterrey) there are currently almost 1 million m² under construction, a vacancy rate of 0.8 percent and monthly rental prices per m² of $6.64.
These are data that keep it in second position by inventory at the national level, where CDMX leads with 11.70 million m².
The explanation is that the Monterrey industry maintains a level of balance compared to the sectors that make it up: automotive, aerospace, biotechnology, household appliances, agri-food and others as a result of the technological development experienced by the advanced industry in California and specifically, Texas.
From January 2006 to September 2023, foreign direct investment in Nuevo León amounted to 48,885.6 million dollars.
Analysts believe that even a scenario in the United States with a change of government would hardly have an impact on economic activity, given that the international geopolitical context has other factors that affect it.
For this reason, Mexico is the main supplier to the US, an issue that has allowed this market to place 1,000 m² of industrial spaces in the first quarter of 2019, 36 percent absorbed by automotive companies.
As a consequence of the industrial real estate evolution, the office market recovered its absorption levels, despite the impact generated by the pandemic and the hybrid work scheme. This inertia meant that until February, according to Newmark México, the availability rate reached 19 percent.
Finally, the residential real estate market, with its more than 11 thousand units displaced in 2023, is selling at the same speed as the traditional segment.
These numbers allowed it to maintain at a national level, with 1 percent, the highest housing credit placement rate, despite the fact that there is a high level of units focused on the plus and residential segment. luxury acquired with own resources, due to the purchasing power and demand generated by foreign buyers.
And despite the controversies and challenges in infrastructure (water and other urban services), in Monterrey today the tallest tower in Latin America is being built and the largest public work of the last 20 years is being built. This says a lot about what the real estate from Monterrey.
