Real Estate in Monterrey  In terms of Monterrey real estate, this rich market is equally attractive to foreign investment as well as second-home buyers. It has the highest GDP per capita in Mexico, boasts a much lower crime-rate compared to Guadalajara and Mexico City, and lies 139 miles or 224 kilometers from Laredo, Texas, which is a three-hour journey on its modern and well-maintained highways.
The fact that Nuevo Leon is a border state has made Monterrey a wonderful shopping and business center. Its modern malls and luxurious hotels equipped with conference halls serve as one of the largest business and convention centers in Latin America. The city, which has a population of just over three million, is made up of the municipalities Apodaca, Escobedo, García, Guadalupe, Juárez, Salinas Victoria, San Nicolás de los Garza, San Pedro Garza García, Santa Catarina and Santiago. Popular neighborhoods for expatriate residents that include gated communities with round-the-clock security and modern amenities that you would expect to find in the United States or Canada are San Pedro Garza Garcia, Cumbres, Contry, San Jeronimo and San Agustin. Real estate developments in these neighborhoods offer golf or mountain view homes with wide landscaped streets, and the prices reflect the status associated with owning in these exclusive areas. There are also a growing number of not-so-exclusive, upper class and middle class developments and neighborhoods which offer a comfortable lifestyle as well as a good value for the potential resident. Generally, prices for real estate in Monterrey start around US$900 to US$1,500 per square meter for a new apartment, while for a new single home prices range from US$800 to US$1,000 per square meter. Monterrey real estate prices are lower than those in the beach resort areas of Mexico, but the business climate here is driving the market, and many of the prices reflect the success of the city. As with most modern, growth-oriented cities, a carefully selected real estate investment will, most likely, appreciate with time. Return to top |
