Immigrants expected to create demand for new apartment buildings in Yucatan

Country Towers, one of the most recent and tall department buidings in Merida (Photo: Google)

Real estate developers are betting on the construction of buildings in anticipation of arrival of new residents from Mexico City, Nuevo Leon and Estado de Mexico….

MERIDA – It is expected that the migration of families to Merida from places such as Mexico City, Nuevo León and Estado de México will increase demand for vertical housing (apartment buildings) next year and leave with no changes the demand for horizontal scheme (one floor houses), generally preferred by the local population.

The Inmobilia group, one of the national and regional leaders of the sector, said in a study that in the Yucatan capital people are accustomed to living in larger spaces and with a garden, so that horizontal housing will continue to grow. Also the study mentioned that young people, while single, prefer to live in an apartment but after marrying end up buying a one-floor house.

Country Towers, one of the most recent and tall apartment buidings in Merida. (Photo: Google)

According to the study Dynamics of Housing Market (DIME), developed by Softec, the areas of greatest real estate development in Yucatan will continue to be the municipalities, of Merida, Conkal, Kanasin, Uman, Ucú and Progreso. Just last year, 137 projects were developed in these municipalities, with more than 30,400 units. The most offered product is the single-family house that corresponds to 71% of the total.

Carlos Medina Rodríguez, president of National Chamber of the Industry of Development and Promotion of Housing (Canadevi), indicated that new companies that are coming to the State will increase the housing requirement here, and in addition prices will increase between 4% and 6% as usual.