The labour costs in the real estate sector in Mexico have exhibited an upward trend from 2013 to 2023. As of 2023, labour costs stood at 53.88 billion Mexican Pesos. Over the last two years, the year-on-year variation was 2.93% in 2022 and 2.79% in 2023. The five-year compound annual growth rate (CAGR) from 2019 to 2023 was 2.68%. For the next five years, from 2024 to 2028, a forecasted CAGR of 1.9% suggests a more moderate increase, resulting in an anticipated total growth rate of 9.87% over the period.
Future trends to watch for include potential impacts of inflation, changing labor market dynamics, and regulatory adjustments. Additionally, technological advancements and shifts in real estate demand could influence labour costs in the longer term.
