Consumption activates the demand for commercial premises. The high population growth of the Guadalajara Metropolitan Zone has given rise to the development of establishments that bring services closer and facilitate people’s lifestyle.
The purchase and rental of commercial premises is influenced by personal and financial considerations, so an adequate selection can make the difference, shared Enrique González Romero, director of the real estate firm Grupo Gova.
“You have to define if it is patrimonial or speculative, that is, if you are going to buy it to resell it soon, if you are looking for a capital gain and some months of rental liquidity or just to keep that property in your investment portfolio for a long time.”
He indicated that the current behavior of the commercial market is very dynamic in terms of sales, since there are two strong groups of investors: the one who buys in presale (speculative) and the end user, who buys in a patrimonial way and/or as a business for themselves.
“Generally, it includes those first investors who were saving until they raised their first million pesos and with that are able to get a commercial premise that, by far, is a better investment than a house or apartment, at least here in Guadalajara and in cities such as Querétaro.”
He indicated that there is also the investor who seeks to consolidate large assets, as well as those who can acquire complete projects (large commercial plazas), with investments above 50 million pesos.
The above, he said, is due to the current evolution of the commercial market, since, with the new investment formats, you can now acquire a commercial space as an investor in a whole project and not just a private unit.
“Currently, co-ownership is very fashionable, that is, investors become co-owners of the entire plaza and not just one project or commercial space.”
However, although the dynamism of the commercial market is advancing, thanks to the demand exerted by the city’s population growth, the current economic uncertainty is not generating an atmosphere of confidence in investors.
According to González Romero, in recent years, the decision to buy and rent commercial premises has decreased by 32 percent.
“We have been selling and renting commercial premises for 12 years, so I can say that 2018 and 2019 were the lowest years in terms of sales,” he said. However, he noted that during the first month of this year the investor has shown a greater appetite.
He stressed that, in prospecting for commercial premises, months such as January can be seen as among the best of the year. In its most recent registry, the firm realized a 20 percent increase in interest from future clients during the first month of 2020.
“Our sales goal for this year is 300 million pesos,” said González, who noted that currently the firm promotes the opportunity the acquisition of commercial space represents.
He stressed that, today, people have a greater investment culture, as the market offers more financing tools so that this is not a future plan but can be acquired in the short term.
He mentioned that among the benefits obtained by those who invest their capital in a commercial space is the return they offer, which is approximately 8 percent annually.
“The capital gain of a commercial project is generated much faster than in a residential project. In a commercial project, when you invest in a presale, at the time of resale you can expect a return of between 20 and 25 percent.”
He explained that Guadalajara and Zapopan are the entities with the greatest commercial offering in Jalisco; however, Tlajomulco has raised its level of demand, especially in rentals, in the last five years.
“Places like Naciones Unidas, Patria, Clouthier, Andares and the entire northeast of the Guadalajara Metropolitan Zone are always the most sought after.”
Among the aspects people should take into account when choosing a commercial location is the cost of maintenance, which generally ranges between 12 and 15 percent of the rental value.
“One of the expenses that must be taken into account is taxes, which are often overlooked, and it is very important to know about them and take advice. You can buy in presale and avoid a lot of tax issues, but when you deed a property there is no way to avoid them.”
He explained that the high level of competitiveness and the different options offered in the commercial market allow the investor to achieve that vision he had planned, either to diversify his patrimony, to have an asset and bequeath it in life or as an initial investment for a life project.