CANCUN — Cancun is becoming attractive for Russians who are buying luxury residences, mainly located in the hotel zone, which five years ago was not seen.
Russians arriving intend to purchase homes, and although this is not a segment that has been quantified, there are at least 12 applications, said James Tobin Cunningham, president of the Mexican Association of Real Estate Professionals (AMPI).
30% of purchases of residential and residential plus houses are foreigners, of which most are from the United States and Canada, in addition to Spanish and Latin Americans, except for Argentines who come mostly to rent.
“The market of Russians, we expect it to grow, as applications are increasing and they are looking for products that have spaces where they can spread out, go for a walk or shopping, so they choose Cancun as they are not interested in distant places like southern Quintana Roo,” said Tobin Cunningham.
The fastest growing area
The purchasing dynamic of Russians is on the rise, and one of the areas that will be an option is the Huayacán, as it is one of the fastest growing areas.
The Russian market is considered of high purchasing power that also likes getting familiar with the culture, thereby being one of the most important for tourism.
Until the first quarter they have reached nearly 2,700, according to the barometer made by the Association of Hotels and Puerto Morelos.
“Those who are not purchasing are the Brazilians, and we still do not know what the motives are, but we believe it is because they also have beaches,” Tobin Cunningham said.
more recommended stories
Mexico struggles: whether to dialogue with “self-defense” groups or persecute them
Mexico’s government appears to be split.
Why is Mérida the best place to live in Mexico?
If you decided to move to.
“Kukulkán Perrito Rescue Operation” at Chichén Itza archaeological site
In order to continue with the.
Mexico risks recession as second-quarter GDP may be revised down
According to Bloomberg.com, economists expect Mexico’s.
Trump says he is ‘very seriously’ looking to end birthright citizenship
Eight months after first raising the idea, President.
Business summit’ in Mérida to unravel the conflict created by AMLO´s government
MERIDA Yucatán. – The heads of.
Violence threatens Mexico’s Magic Towns
The charm of Magical Towns has.
More cases of measles in Mexico
CHETUMAL Quintana Roo – A 23-year-old.
Economists worldwide forecast a recession in the US
The US economy appears to go.
Arkansas family’s harrowing ordeal in Mexico after they hadn’t purchased travel insurance
News websites and social media have.