Despite Jalisco being a leading state in the development of the housing sector. and has a high rate of urbanization, there is still no real estate law here that regulates the activity of those who promote or advise on rental or sales transactions. It is a legal vacuum that opens the door to fraud, or simply bad practices, that put the assets of families and investors at risk.
The president of the Mexican Association of Real Estate Developers in Guadalajara (AMPI), Mario Romo Alarcón, pointed out that it is vital that the state congress approve this new legislation in order to officially certify and register professionals in the sector and, consequently, give the greatest possible legal certainty to those who wish to acquire or rent property.
But while the issue awaits its turn on the state legislature agenda, AMPI is offering a permanent training plan, and is establishing alliances with other groups and government institutions.
As part of the strategy, Romo announced that the 31st annual AMPI Guadalajara Real Estate Forum will be held at the PALCCO Convention Center on Friday, September 23, with an expected attendance of 1,200.
It is a conference that will bring together the most influential real estate leaders and experts considered agents of change, who will share their knowledge and experience.
The program consists of 20 conferences and workshops. Among the topics are, precisely, that of real estate law, as wll as other highly topical ones, such as the new technologies applied to this sector, as it is known that online property searches have grown by 36% this year.
There will also be talk about the future of marketing, and the so-called unicorn companies.
Why is the Real Estate Law important for Jalisco?
- The real estate sector contributes 12.8% of the country’s gross domestic product.
- 19 states already have a law in this regard.
- Jalisco is considered in third place in real estate supply in Mexico.
- Around 10,000 independent real estate agents operate in Jalisco without certifications, and who are not part of any registry of professionals.
- Up to 43% of the real estate supply in Guadalajara is vertical housing.
- Zapopan remains the most expensive municipality.
- Contrary to some forecasts of contraction in the market, real estate sales have increased by 8% already this year.
- Prices have generally increased a little above inflation.
- The average cost per square meter in the Guadalajara Metropolitan Area is approximately 41,600 pesos.
- Investors are looking for more one-bedroom properties with a parking space, with prices reaching 20 million pesos.
- Purchasers is looking for properties with two – three bedrooms with two parking spaces, and a price of approximately 4.5 million pesos.