Will real estate prices increase because of the Maya Train project?

(Photo: vanguardia.com.mx)

The Maya Train is a railway infrastructure project proposed by the incoming government, which will connect five states in the Yucatan Peninsula and southeast Mexico: Yucatán, Quintana Roo, Campeche, Tabasco and Chiapas . The tenders of the 1,500-kilometer railroad project will begin on December 1, and it is estimated that it will have an investment of 150 billion pesos, from public and private resources .

Leonardo González Tejeda, real estate analyst at Propiedades.com website, stated on the scope of the work in real estate terms, “this railroad will have a significant regional impact , which influences the complete mix of real estate and development projects of its original-destination cities. Generally, a new transport route detonates multiple development nodes that improve the real estate cycle of these areas. ”

Given this situation, the real estate portal reviewed the prices of housing in the five states involved in this mega project. The highest local currency prices are: Oaxaca with 2.6 million at home and 1.6 million per apartment (even though it is not part of project, it is located right next to Chiapas and Tabasco); Yucatán with 2.1 million and 1.8 million; Campeche ranks third with 2 million and 780 thousand pesos.

In Tabasco, houses have an average price of  1,950,000 pesos and apartments 950 thousand, in Quintana Roo and Chiapas the houses have a value of 1.7 million and 1.6 million respectively.

“The project is generating great expectations of regional development, and we expect a greater flow of investments, a new housing scheme, and stronger real estate liquidity ; which should ultimately improve the pace and transactional quality of these cities in terms of real estate growth, “the analyst continued.

“To achieve this important transition it will be necessary to coordinate the local and federal governments with business delegations to enable services and logistics for project development”, González Tejeda concluded..

Source: Inmobiliare 



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