Housing prices in Tijuana have jumped 30% this year, according to Fermín Kim King, president of the Real Estate Professionals Association in Baja. This increase follows a 25% rise in the previous year. The surge is driven by higher costs for land, labor, and materials, significantly impacting the construction industry. “We’re seeing a shortage of labor due to the high number of ongoing housing projects,” Kim explained. If these costs continue to rise, housing prices are expected to follow suit.
Another major factor contributing to the price hike is the influx of people from Southern California seeking more affordable housing options in Tijuana. As more individuals migrate to the area, demand for housing has intensified, pushing prices even higher. Kim noted, “As demand escalates, so do the prices.”
Currently, rental prices reflect these trends, with a one-bedroom, one-bath apartment on the outskirts of Tijuana costing about $570. In contrast, larger homes closer to downtown can be three to four times more expensive. The increased demand and rising costs are reshaping the Tijuana housing market, affecting both new and existing residents.
