Politics · Mexico · 2 hrs ago

Property developers warn proposed Valley of Mexico plan could raise costs

Property developers warn proposed Valley of Mexico plan could raise costs

Mexico’s proposed planning program for the Valley of Mexico metropolitan area aims to coordinate urban development.

The Association of Real Estate Developers says some proposals could add costs and obligations for landowners and developers.

They include bringing property tax assessments closer to market values, a tax on vacant or underused land, and charges tied to additional building capacity or changes in land use.

The association says these measures could make land and construction more expensive, affecting housing, investment and jobs.

The program would not introduce the charges immediately, but could provide a basis for adding them to local laws and plans later.

The association says the program should not be approved as currently proposed and will present its views during a public consultation that remains open until November 22.

What people are saying

The sum of these measures will make land and project execution more expensive, with negative effects on housing construction, investment and job creation.
ADIAssociation of Real Estate Developersvia El Universal
Our objective is to promote metropolitan planning that strengthens legal certainty, protects assets and supports conditions for housing development and investment.
ADIAssociation of Real Estate Developersvia El Universal

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