The pandemic revealed that a large number of Mexicans live from day to day, which is why, in this country, acquiring a luxury property is difficult.
In Mexico, according to the National Institute of Statistics and Geography (INEGI) and its study Quantifying the Middle Class in Mexico 2010-2022, only 1.2 percent of the total population (an estimated 429,701 people) is considered to be of the “upper class” or “wealthy”.
In this context, an important fact to point out is that, today, a very small number of Mexicans have a salary that exceeds 100,000 pesos per month. In fact, yesAccording to information from the 2020 National Household Income and Expenditure Survey (ENIGH), 1 percent of the total population has a monthly salary of 108,652 pesos.
Having said this, the reality for a large percentage of society is very different in many ways, from their income, living conditions, future projections, etc., a reason that suggests that only a very small population has the possibility of becoming a luxury property.
RE/MAX explains the difference between a luxury property and a normal one
In the broad real estate market there are various types of properties, each one adapted to the needs of the buyer and, of course, to their income, but… How to define what a luxury property is?
Specifically, it can be said that it is one that has been built with quality materials and elegant finishes, and that, in turn, offers various types of comforts. On the other hand, some of the most important characteristics of this type of housing can be:
- A privileged location: Luxury properties are located in privileged areas and where services are more expensive.
- High-quality manufacturing materials: The finishes of the property are important and, while they are of higher quality, their price is even higher.
- Available services: There are homes or residences that have services such as a swimming pool, private gym, among others.
- Price = high quality: In Mexico, the average price of a home is one million pesos, while some of the luxury properties cost even more, depending on their location.
Unlike other types of homes or properties that are not luxury, these types of characteristics are difficult to find, since, in general, there are spaces that are made with other types of materials, their price is lower, their location is more everyday and do not have luxury services.
If you are looking for a luxury home with the best location adapted to your needs, RE/MAX It has the best real estate options for you. In addition, you will be in contact with the best professionals in the market, as well as with a large catalog of offices throughout Mexico.
