Construction of new complexes in the Historic Center of Puebla will increase capital gains by 30%: AMPI


Puebla, Pue. The capital gain of mansions and old buildings of the Historical Center poblano could increase up to 30% with the construction of new apartment complexes, highlighted the Mexican Association of Real Estate Professionals (AMPI).

Fabrizio Pizar Rojas, local president of that organization, commented that it will bring a benefit to the new investments of developers in vertical complexes for those who have properties in the area and who in many cases had them uninhabited or completely abandoned.

He mentioned that this boom to return to live in the “heart of the city is positive, since it implies triggering more housing projects and that those who had properties without taking advantage of them now take the initiative to remodel them to sell or rent spaces, especially in the latter case. for out-of-state students looking for something central.”

He explained that a 15-year-old apartment that was worth 450,000 pesos in the area, would now be offered 30% more expensive due to the repopulation plan, while a new one ranges between 1 and 2 million pesos depending on its size, location and what level of the building is located.

The leader said that so far the execution of the Partial Plan of the Historic Centerapproved in 2016, so that 250,000 people return to live in the area within a period of 15 years, for which the construction of 34,000 vertical houses was projected.

repopulation

However, Pizar Rojas admitted that it will be a slow process, because only 1,000 apartments were planned for the Historic Center of Puebla and another 3,000 outside of it, however, it is a plan that real estate developers see as positive for the Puebla market.

The builders see a feasible market niche, but it is complicated because there are owners of mansions who insist on making their properties more expensive to sell by 200%, when the conditions in which they are found do not justify their high cost,” he said.

He commented that from 2022 to 2024 there will be a thousand apartments, an amount that is small if you have a 15-year goal, but it will also depend on the future authorities to follow up.

He pointed out that the area does not give to build single houses or a subdivision, because it ceases to be a business for the builder, added to the fact that the trend is the vertical offer, which is for families of four members, whose work or school activity is the center.

Regarding old buildings to be reused in residential buildings, he explained that between 10 and 15 million pesos are offered, which is recoverable for developers between 8 and 10 years, when apartments with a value of 1.5 million or 2 million are built. pesos, while for the rent of offices and premises, the return on investment takes 15 years or more.

“Living or having a business in the downtown area becomes a luxury, but those interested are willing to pay for it because in the long run they represent economic benefits in savings and in shortening travel times,” he said.

He indicated that foreign developers from entities such as Querétaro, Hidalgo and Mexico City are targeting this area of ​​Angelopolis for detonating projects in the rest of this year, decisions that will be made in the next two months, since they are in negotiations. to purchase the properties.

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