Yucatan named among the best places in Mexico for real estate investment

Real estate investors are flocking to Yucatan, particularly its capital, Merida. Photo: Courtesy
Real estate investors are flocking to Yucatan, particularly its capital, Merida. Photo: Courtesy

Realty World Mexico has placed Merida as fourth nationally in new-home investment, with some 7,816 units sold during 2018.

Merida recorded residential real estate investments of more than US$2 billion dollars in 2018 (about 40 billion pesos), placing it in league with localities such as Mexico City.

Alejandra Padilla, Vivanuncios’ business development manager, pointed out that Yucatan state ranks tenth in the country in available housing, with 18,000 properties online.

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Merida is among Mexico’s top five most important municipalities in Mexico for new housing; according to data from the Association of Real Estate Developers. This is due to the perception that its real estate offer in the region is very diverse, according to the Vivanuncios property registry.

The average price of a three-room house, approximately 220 square meters, in Merida is 9,500 pesos per square meter. The sale price for a two-room apartment of 120 square meters is 18,000 pesos per square meter elsewhere.

That cost could exceed 30,000 pesos in other parts of Mexico, including the nation’s capital.

Source: Real Estate Market & Lifestyle

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