CANCUN — Real estate in the city of Cancun is the most expensive of any area in the country, says the Mexican Association of Real Estate Professionals.
Jorge Francisco Alemán Yúdico, president of the Asociación Mexicana de Profesionales Inmobiliarios (AMPI) in Cancún, says the Cancun Hotel Zone is the most expensive in Mexico, chiming in at a high-end of $2,100 USD per square meter, riviera-maya-news.com reports.
He says on average, real estate in the Hotel Cancun Zone ranges between $600 to more than $2,000 USD per square meter, making it the most expensive in the country. Places like Los Cabos, he explains, average about $387 USD per square meter.
According to AMPI, this is significant since it signifies the confidence that the destination holds nationally and internationally for investment opportunities, by far exceeding other popular places in Mexico such as Los Cabos, Ixtapa and Loreto.
Alemán Yúdico says while the US dollar has played a factor in the first half of the year, real estate in the hotel zone is highly sought after because it is one of the most attractive places to live, especially if it is private by the sea or overlooking the lagoon.
According to AMPI’s comparative data, in 1974 a square meter in Cancún cost $8.00 USD. In, 2000 the value per square meter had risen to $148 USD and for 2015, a square meter was valued at an average of $506 USD. Today, the value of a square meter averages $620 USD.
In other destinations, such as Los Cabos, Ixtapa and Huatulco, the cost per square meter in tourist areas is $387, $174 and $112 USD respectively.
The growth of tourism throughout Mexico has made investments in real estate very attractive, however, Cancun is the only city where the sale of residential apartments and houses with a value of between three to five million peso has increased by 30 percent, he says, adding that buyers are preferring quiet areas or newly created subdivisions.
more recommended stories
The time has come, U.S. restarts controversial Trump-era border program
The Biden administration will restart a.
The US and Germany joined countries around the globe planning stricter COVID-19 restrictions
WASHINGTON/BERLIN, Dec 2 (Reuters) – The.
New flight Miami-Chetumal connects Florida with Southern Quintana Roo
Chetumal International Airport resumed its international.
Art and crafts exhibition ‘TlaquepArte’ in Mérida, from December 3 to 6
Mérida, Yucatán, (December 02, 2021).- With.
Quintana Roo will have a good winter season with tourists from the US and Latin America
The state allocated a millionaire investment.
Yucatán is a new member of the World Tourism Organization (UNWTO)
Madrid, Spain, (December 02, 2021).- The.
Governor Mauricio Vila meets with Mexican secretaries of Economy, Navy, and Government
Mexico City, (December 02, 2021).- Governor.
With guayaberas, Tekit sets out to conquer the world
Mérida, Yucatán.- Little by little, Tekit,.
Historically, Yucatan adds more than 10,000 cases of HIV / AIDS
Yucatán is among the first states.
Lighting of the Christmas tree on Paseo de Montejo
Merida, Yucatan, (December 02, 2021).- As is.