The President of the State Council of Realtors of Baja California, Marco Antonio Preciado, said that the current rent and purchase of properties in Tijuana have been reduced by 40% for those with income in dollars in comparison with 2015.
The realtors acknowledge that while the current exchange rate is beneficial for retired Americans, San Diego residents, and for the citizens who work there but live here, the picture is adversely different for Tijuana.
"Right now is a matter of negotiation, with us as intermediaries," said the president of the Association of Realtors of Tijuana (APIT), Gustavo Chacon, regarding the work of real estate agents.
Chacon stressed that change is not about laws but to reach an agreement with the same tenant and try to keep prices in pesos to also draw the attention of locals.
"There are many who want to change the law but ultimately the signing of a contract is between individuals and individuals choose the currency they want to use for that contract,"he added.
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Translated by: cristina.mora@sandiegored.com
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