The Aztec country reaches 720 properties, which represent more than 25 million profitable square meters, one of the best return rates in Latin America.
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This story originally appeared on High Level
All within 20 minutes in some cities of Mexico . Every day it is more common to find what you need very close to your home, apartment or work in the Aztec country, especially in its capital. In addition, there are also mixed-use buildings which offer commercial services plus housing.
Mexico is the country with the largest number of shopping centers in Latin America , during the second quarter of 2019, 720 properties representing more than 25 million profitable square meters and one of the best return rates in Latin America had been counted. Nationally, the inventory of the commercial sector amounts to 23.5 million m2, with a total of 786 shopping centers and 1.9 million m2 under construction distributed.
Mexico City , as I have been informed, has a negligible amount of 231 shopping centers, with 713 thousand 956 m2 . The second largest market is Monterrey, with 1.8 million m2 of profitable gross area, and in third place is Guadalajara, with 1.5 million m2.
For investors, the retail real estate sector is quite attractive since the return on investment is reflected in considerable time. It seems to me that at this time for investment companies it is better to take advantage of developments or spaces that are already built, rather than starting from scratch, this due to the small uncertainty that could still remain in the sector.
There are several formats of shopping centers, ( Fashion Mall, Community, Neighborhood and Street Center ) and in Lamudi we have detected that the one that has the greatest growth according to the searches of users at the digital level is one that has recurring services such as gym, home services, health and personal care, as is the case of the Neighborhood Center, combined with a vertical component such as coworking and hotels.
Photo: High Level
That is, although some people invest their money in departments in mixed use developments, their existence per se is a factor that helps to choose the area to invest in a property; that is, although it is not part of the development, people do prefer to choose a place to live that has nearby shopping centers that provide them with a supermarket or a cinema, to mention any of these services.
During 2019, the mixed use type shopping centers showed a 3% increase in their participation compared to the end of 2018 and for this year there is knowledge of the construction of around 40 shopping centers that will be part of the inventory in the next two years, adding 2 million square meters for trade.