The municipality of Zapopan, unlike other cities that make up the Guadalajara Metropolitan Zone, has a great opportunity for growth in luxury homes, not only because of land availability, but also because of the demand for residences by people of a high socioeconomic level, says Daniel Narváez, Lamudi’s marketing manager.
“Zapopan has a great opportunity for growth in residencias plus (higher-end residences). Part of the competitive advantage of the area is the availability of space. … Guadalajara is already reaching the market saturation point, an issue that represents less growth or to a lesser extent for the generation of new projects.”
According to the 2018 Guadalajara Residential Real Estate Market Report, done by Lamudi, in Zapopan, Puerta de Hierro has the most accelerated growth in terms of residencias plus, with an average rental price of $33,000 pesos, while Royal Country also stands out, at over $23,000 pesos.
To these areas are added others, such as Valle Real, “With Cumbres showing significant performance, Loma Blanca, Lomas Altas and Lomas del Valle, which has an average price of over $27,000 pesos,” notes Narváez.
For luxury home sales, the situation is similar. According to the report, in the Guadalajara Metropolitan Zone, Puerta de Hierro and Colinas de San Javier (in Guadalajara) have the highest demand for sales of homes over $11,000,000 pesos. Residencial Loma Bonita has sales prices of over $8,000,000, with the Virreyes Residencial area at over $7,800,000 pesos.
“Regarding online real estate searches, Jalisco’s performance is up to 218,000 per month, which is why it is one of the markets with the greatest demand. Specifically, Zapopan leads in the level of interest for both buying and pricing.”
Distinguished by Cost and Amenities
In answer to a specific question regarding the factors that influence whether a house is considered to be a luxury residence, Narváez says that it is mainly price; for a house to be considered residencial plus, it has a price above $8,000,000 or $10,000,000 pesos.
However, he also stresses that, in states such as Campeche, demand and prices are totally different from those in Jalisco, Nuevo León and Mexico City, where the demand for residencial plus and price are similar, so the price varies by supply and demand according to geographical location.
Another factor that defines a home as residencial plus is the inclusion of amenities. “They have much more attractive features, such as a terrace, lobby, 24-hour security, swimming pool, roof garden, etc.,” says Narváez.
He notes that ecotechnologies, sustainability certifications and other features that allow the home to save water and electricity, reduce CO2 emissions and facilitate recycling and resource management all add value to the property.
“This directly impacts a real estate project’s material and construction costs and makes the market prices higher than in a development or smaller project without all these amenities.”
For her part, Laura Haro, founder of Aitana Properties Group, points out that some of the advantages to selling luxury properties are that the client is a more executive person, knows what he wants, manages technology well, has experience in buying and selling procedures and, surely, it will not be his first transaction.
“Normally, the person who buys luxury properties has worked his way up to it, having one, two or three transactions under his belt before buying a luxury residence.”
During her presentation “Luxury Properties and Highrises” at the 27º Foro Inmobiliario AMPI Guadalajara (27th Guadalajara AMPI Real Estate Forum), this US real estate broker pointed out that this market is quick in making decisions, since it knows the amenities it wants, which facilitates the sales process.
“If the property is what he or his family is looking for, he buys it. In general, he is not a client who struggles to make a decision or has financing issues; he has the economic means to do so.”
However, she said, the luxury client is also very demanding, putting all his confidence in the realtor to make the investment, so it is essential to know the market perfectly to offer the best option to the client.