Home Headlines Real estate “evolution” in Mérida raises property price

Real estate “evolution” in Mérida raises property price

by Yucatan Times
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80 percent of the new homes have been sold to people from other states and countries during this year in Mérida.

“Mérida has had three important periods of change:

The first 25 years ago, when there was an opening for the arrival of Mexican from other parts of the country.

The second, 20 years ago, when a greater number of people started moving to Mérida.

And the third, 12 years ago, with the creation of the Yucatan Country Club, which placed Mérida on the international map.”

This was stated by the director of Chichen Realty Coldwell Banker, Roger Roche Millet.

However, he said, the dynamism of the city arose with the arrival of countless national and foreign franchises of different commercial and industrial sectors, fast food chains, automotive dealerships, supermarket national and global firms, household items, among others, which gradually turned “The White City” into a cosmopolitan metropolis.

Roger Roche Millet (Photo: Communique Channel)

“Mérida became a city, but something was missing, we did not have buildings because the projects were badly planned, because they did not have adequate parking spaces, nor comply with international standards, and with the development of the Country Club everything started to revolutionize, and a precedent was set, forcing real estate companies to do better and open up high profile markets, “he explained.

He stressed that currently the real estate market changed for the benefit of consumers, because they have a wide range of options, and also, the competition between builders requires the offering of more products at a better cost.

He also mentioned that property surplus value increased significantly, and today most of the premium properties are no longer sold to Yucatecans, but 80 percent of sales are for people from other parts of the country and the world.

“Today we sell to people from other parts of the Republic, mostly from Mexico City, State of Mexico, Nuevo León, Jalisco and Tamaulipas, who buy housing, and come to settle down in Mérida with their families. In addition, we have businessmen who are bringing large emporiums from other Mexican states or abroad, many of them from the United States and Canada, as well as from Europe and Asia. These entrepreneurs come to the Yucatan to invest large capitals, “Roche Millet added.

Regarding the Paseo de Montejo, he explained that it depends on the characteristics of the property, not so much on the land, as they are mostly historical buildings that can not be altered; however, some of the properties on this iconic avenue are in the market for up to 15 million US dollars.

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