Home Headlines Real Estate prices skyrocket 60% in Chetumal

Real Estate prices skyrocket 60% in Chetumal

by Yucatan Times

The lack of low-income housing options and the consequent purchase of houses from third parties has created a great demand in Chetumal, which has increased prices by up to 60%, making it practically inaccessible for the majority of the population.

According to the president of the Mexican Association of Real Estate (AMPI), Elza María Varela Miranda, the average cost of a “used” house in areas that are not subdivisions is one million 100 thousand pesos, while a piece of land is in 700 thousand.

“This makes it difficult for workers to buy their own house, since most of the loans granted by Infonavit are only about 400 thousand pesos, and that is not enough to even buy a piece of land in a popular neighborhood,” she declared.

She stated that this problem is a consequence of the lack of social interest houses since the Covid-19 pandemic began, and all real estate projects in the state capital have been stopped.

“And the few houses that are still available are in areas close to the municipal landfill, so they are very little needed,” she declared.

Families, victims of fraud due to lack of homes
In addition, he cited that this situation has encouraged families to fall into fraud when acquiring properties in irregular neighborhoods that are in ejido disputes, or that they have to wait up to 20 years to be regularized in the best of cases since the people who they are bidding they don’t even have the title deeds for the land.

“They are small properties that are offered for up to 50 thousand pesos with small payments, but in the end, they are not a guarantee of being a reliable asset for people because they do not even have all the legal documents that certify ownership and purchase of these lands” he declared.

For this reason, she urged the new government to establish programs to promote housing in the south of the state, in order to avoid a flight of inhabitants.

TYT Newsroom

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