Octavio Rivero, president of the Administration and Justice Commission, explained that this ruling is important since it will help combat real estate speculation in Mexico City.
“If we do not put a cap on rent increases from now on, what will happen? Rent prices will continue to increase as they have until now, which in turn will continue the phenomenon of gentrification, illegal appropriation of land, as well as dispossession so that private interests can profit and speculate on rent prices,” said the Morena legislator.
On July 29, the head of government, Martí Batres, sent to the Congress of Mexico City various reforms and additions to the Housing Law and the Civil Code of the Federal District to curb the accelerated and excessive increase in housing rents in the capital.
The initiative is divided into three areas: establishing that rents do not present annual increases above inflation, the establishment of a digital rental registry, and the construction of exclusive low-income housing for rent.
“The high cost and the increase in the cost of rental housing mainly affects the poorest, who are hit the hardest; that is, the working class and the popular middle class,” said the head of government when presenting the reform.
This ruling, once it is passed through the committees, will be analyzed and discussed at the extraordinary session of the Congress of Mexico City on August 22.
