Home LifestyleExpat Community Real Estate boom in Valladolid as it consolidates as an important tourist destination

Real Estate boom in Valladolid as it consolidates as an important tourist destination

by Yucatan Times
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Interest in real estate to set up businesses is growing in the area.

VALLADOLID (April 21, 2021) (YUCATÀN).- Due to the fact that little by little the city consolidates its vocation as a tourist site and that several entrepreneurs are interested in investing and opening businesses, several houses in some neighborhoods and others located in the city’s surroundings have been put up for sale.

The prices of the properties depend on the place where they are located, the conditions, and the dimensions of the same.

For some years, when foreign companies began to arrive, numerous families who lived in the center of the city and on the Calzada de Los Frailes, even in the surroundings of San Bernardino de Siena, decided to leave their houses to move to live on the outskirts and put their downtown properties up for sale or rent.

Now it is notorious that several colonial houses that are located in the first square already have their sign promoting their sale, prices vary. Some of the properties located in the historic center of Valladolid can be sold for up to 10 million pesos (500 thousand USD).

In the case of houses that are located in the neighborhoods, but a few meters from a park, the prices are around $ 5 million pesos, if they have a large patio, where investors can build a hotel or other type of lodging because a lot of people are dabbling in that type of business right now.

Colonial property in the center of Valadolid offered for sale. Photo: (Diario de Yucatàn)

Investors who arrive in search of a property, mostly choose places where there are tourists, in the center of the city and around the perimeter of the Zací cenote, even in the barrios of Sisal, San Juan, Santa Ana, among other points.

Some properties have already been bought or rented and are in the process of making adjustments to set up businesses, so that in the near future other tourism businesses would open in this city, especially due to the economic recovery that is in process, despite the pandemic that still persists.

In the same way, it has been observed that in the Calzada de Los Frailes several properties are for rent, available to set up a lodging business, boutique hotel, or hostel, in most cases interested parties reach an agreement directly with the owners.

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