The Sierra de las Mitras is one of the highest and most dynamic in the urban life of Monterey, the capital of Nuevo Leon. At its highest point it reaches 2,063 meters above sea level and is located between the municipalities of García, Santa Catarina, San Pedro Garza García and Monterey.
According to a market analysis of the global property search portal Trovit, the location close to this mountainous area can generate greater appreciation of the value of the property, although there are marked differences depending on the sector.
To the south, in St. Catarinathe price per square meter of living place near the hill is more expensive on average 2.51%, compared to the average of the municipality.
It is in this demarcation of mountainous landscape where the automobile assembly company Tesla will install itself with a “gigafactory”.
Given the decision of billionaire Elon Musk, owner of the company, new investments and greater real estate development in the region are expected, which is currently already accelerated.
“Real estate development in the streets closest to the mountain has increased in recent years. In addition, the news that Tesla will set up a mega-factory in this municipality will possibly attract new investments”, can be read in the Trovit analysis.
San Pedro Garza García, the most expensive municipality
The effect of the Sierra de las mitres It is different in San Pedro Garza García, a municipality recognized for the high purchasing power of its inhabitants: Del Valle, one of its neighborhoods, is among the five most expensive in Latin America.
There, living near the mountain is not synonymous with greater surplus value. In fact, the home prices in the surrounding area it is 35% lower than the city average.
Despite the difference in price behavior, the Sampetrina area closest to the mountains has a similar value (47,786 pesos).
It should be considered that the average price per square meter in San Pedro Garza Garcia (74,552 pesos) exceeds the districts of Monterrey by 66% and by 50% St. Catarina.
Relationship with districts
In addition to the aforementioned municipalities, the Sierra borders the districts of Cumbres, Cumbres Poniente and San Jerónimo.
In the first of them, the properties for sale in the nearby radius (1 kilometer around) can be 8% more expensive than in the rest of the sector.
On the other hand, in Cumbres Poniente, the housing prices it grows 0.9% per square meter and in San Jerónimo the figure reaches 0.45 percent.
“The trend in each area corresponds to residential dynamics. Along Av. Paseo de los Leones (to the west) there are middle-class private neighborhoods, a characteristic that is repeated throughout the three districts that surround the mountain”, highlights Trovit’s analysis.
