SAN DIEGO (Border Report) — The cost of housing has gone up by 30 percent this year in Tijuana, according to Fermín Kim King, president of the Real Estate Professionals Association in Baja.
This is on top of a 25 percent the year before.
“This has impacted the cost of land, labor and materials, and it’s affecting many, especially those in the construction industry,” said Kim. “There are so many housing projects going on at the same time, we don’t have enough labor.”
Kim added if the cost of land and labor continue to climb, so will the price for housing.
Another factor is the continuous migration of people from Southern California looking for more affordable housing in Tijuana, according to Kim.
“As demand escalates, so do the prices,” he said.
Right now, according to Kim, a one bedroom and one-bath apartment on the outskirts of Tijuana is going for about $570, with bigger houses closer to downtown being three to four times as much.
