Due to the high rates in supply and demand for places to rent in Cancun, landlords offer their properties, depending on the area, at prices ranging from 1,500 pesos to 85 thousand pesos ($88 to $5,000 USD), said James Tobin Cunnincham, president of the Mexican Real Estate Professionals Association.
Because the hotel zone has already reached its maximum level of development, landlords who have sites for rent in this area have raised their costs to almost 80 thousand pesos ($4,700 USD) a month because of the demand in the area.
In the case of Downtown, costs range between 17 to 35 thousand pesos ($1,000 to $2,058 USD), for places with all residential services and amenities and 24 hour security.
In the rest of the city costs range from 1,500 pesos to 13 thousand pesos ($85 to $765 USD) depending on the services that they have to offer. The farther you are from downtown, the lower the price. Landlords seek to increase the price for furnished places with services included in the price of rent.
Supply and demand
Rents depend greatly on the supply and demand of the place. Landlords seek to increase revenue by offering services such as private security and community pools to mention a few, hoping to make the tenant stay at a higher price despite the zone the home is located in.
Another factor that people look for when renting a house or apartment is the kind of facilities offered, such as transportation services, playgrounds, and proximity to shopping centers or supermarkets.
“These types of amenities are the decisive factors for people to decide to sign a lease. What is a fact is that landlords have been increasing their costs and will surely continue to do so as demand in Cancun allows it, due to Cancun being an area with high migration rate, so the demand for such services is high,” said Tobin Cunnincham.
more recommended stories
381,000 anti-rabies vaccines will be applied to dogs and cats in Yucatan
From March 24 to 30, the.
Vila and AMLO, united to promote the development of Yucatán
Governor Mauricio Vila Dosal and President.
Another foreigner accused of ‘appropriating’ a beach
A foreigner prevented people from bathing.
New Age Mystics, selfie-seekers celebrate Spring Equinox at archaeological sites around Mexico
Thousands of people dressed in white.
ICE sets record for arrests of undocumented immigrants with no criminal record
Federal immigration agents under President Donald.
Governor showcases economic panorama of Yucatan to ambassadors
The competitive advantages of the State,.
Cancun expects half a million tourists for Holy Week and Easter
The holiday season of Holy Week.
American builds wall on a beach in Yucatan
While the US president, Donald Trump,.
Social media users mock foreigners who criticized Mexican candy
Social media users mercilessly mocked consumers.
AMLO’s Maya Train… All Aboard!
On December 16, two weeks after.