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What will be the impact of the new rent control law on rental prices in Mexico City by the end of 2024?
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Official rental market reports and statistics released by the Mexico City government or reputable real estate market analysis firms
Story
Mexico City Passes Historic Rent Control Law Tied to Inflation Rate
Aug 22, 2024, 10:31 PM
The Mexico City Congress has approved significant housing reforms aimed at addressing the capital's housing crisis. The new legislation includes a constitutional amendment to impose rent control, capping rent increases at the rate of inflation. This is the most stringent rent control measure since the 1940s. The reforms were proposed by Batres and are designed to improve neighborhoods and strengthen property rights. The changes are expected to benefit residents, particularly those in poverty, including workers, single mothers, and young people aged 18 to 35. The local Civil Code was also modified to eliminate a provision that allowed annual rent increases of up to 10%.
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