According to a study conducted by the real estate website Propiedades.com, approximately two out of three renters in Mexico choose to rent rather than buy a property. This is due to the current economic environment, high interest rates, and difficulties in accessing credit to acquire a home.
The study reveals that, despite 30 percent of the properties on the site being available for rent, these generate double the interest from tenants compared to properties for sale, which make up 70 percent of the options available in the market.
Juan David Vargas, general manager of Propiedades.com, mentioned that Mexicans prioritize the flexibility offered by renting, especially due to the unfavorable interest rates for home purchases. According to data from the National Housing Survey (ENVI), more than 50 percent of people choose to rent because they do not have access to credit or resources, while 22 percent do so for the ease of moving, and 9.7 percent because the monthly payment is lower than the mortgage payment.
High interest rates and restrictions on access to mortgage credit make home acquisition difficult, turning leasing into a more attractive and flexible option for Mexicans. In cities with more than 100,000 inhabitants, the rental trend is 21.8 percent.
Although purchasing properties remains relevant, renting is gaining ground as the primary option for many Mexicans, especially among young people and professionals looking to establish themselves in urban areas.
