In the year 2013, Mexico saw the fall of three of its biggest housing developers. Post 5 years, the nation saw a rise in investment and multifamily construction. The real estate sector of Mexico continues to grow and people have started locating in the secondary cities such as Monterrey or Guadalajara and Queretaro.
With green landscape, commercial facilities and big part of global corporations, Monterrey has become a unique center for development and growth. There is a constant growth in the field of industrial property Monterrey and the growth is different from United States. Find out the benefits of having an industrial property in Monterrey.
There is a big difference in the manner development in Mexico and the United States. Talking about market rate real estate development, commercial projects are strategized in less time in Mexico. Working on a project in the US takes around three times more to complete with regards to fiscal analysis, designing and construction plans. In Mexico, the procedure is cheaper. There is a smaller team to address.
Another major difference is the amount of public involvement, from public and community officers. Unlike most American cities, Monterrey has good quality of citizen empowerment. For a project here, you don’t any official approval from the community, if it stands by the legal framework.
Does Monterrey focus on sustainable development?
Even the best real estate companies in the city focus on investing in sustainable development in Monterrey. It is all about investing in passive design strategies and inventive technology to bring the best products.
The best export manufacturing base in Mexico attracts producers in a wide range of niche because of its close proximity to the US border. Hence the city houses the highest population of the country. Other producers benefit from slightly moving to Monterrey. Being the third largest city here, it is a commercial industrial and educational hub. It forms to be a major export hub, especially from Nuevo Leon. It is a core for steel production and has attracted manufacturers of aerospace, medical devices and automobiles and electronics.
Appliance manufacturing and furniture manufacturing
A lot of companies from appliance manufacturing and furniture manufacturing moved towards Monterrey in clusters to pull from a known workforce.
One of the ways to ensure that your company will cost saving when manufacturing in Monterrey is to make a cost analysis of the short and long-term costs. Some of the factors to concentrate on are given below:
Lease rates: Accordingly, average lease rates per square foot monthly ranges from a mean USD 0.42 in Monterrey to $0.46 in Tijuana. However, prices vary according to the region and quality of industrial property.
Utility costs: Electrical charges fall around $0.110 per kWh. However, the cost may vary depending on the use of air conditioning for humidity control.
Payroll: Wages differ according to the skillset of the employees.
Logistics: Companies should consider custom costs. The prices vary depending on where you are shipping the item.
Seeing such incentives, if you are interested in industrial property Monterrey, you can contact us at Aireal Estate.