The leader of Baja’s Property Professionals Council, Tanya Montalva lvarez, claims Tijuana business and home owners who previously requested prices be paid in dollars are tearing up license agreements and are now demanding pesos.
Since the middle of next year, the Mexican currency has been stable against the U.S. dollars. According to XE Money Exchange, the dollar’s worth versus the currency has dropped by nearly 10 in one month.
It shows the transfer rate now is about 16.39 pesos per dollar. At this time last year, it was 18.33 per$ 1, at the start of 2023, it was almost 20 pesos per$ 1.
Their dollars are n’t going as far as they did a year ago for many American workers who reside in Tijuana and are paid in greenbacks.
” During the course of 2024, I believe we’re going to stay seeing this type of behavior, some home users getting away from the dollar preferring pesos”, said Montalva Álvarez. In order to avoid losses, some people have just increased the book to compensate for the weaker dollar.
She claims that despite this process, people continue to relocate from California, increasing rent costs for everyone in Tijuana.
There are many rental opportunities for those who want to consider more affordable housing in many of Baja California, according to Montalva lvarez. Tijuana’s real estate and business industry is still very strong and a wise investment.
