Iván Cervera López, executive vice-president of the Mexican Association of Real Estate Professionals (AMPI) in Mérida, assured that the north and center of Mérida will continue to be the preferred areas for those looking to come to live in the city in 2023.
He pointed out that real estate costs will continue to be competitive compared to the rest of the country this year, and that the cost of living in Mérida continues to be more affordable than in other parts of the country.
That is to say, as he explained, the national migration that continues to arrive to Yucatecan lands “can perceive that living here is cheaper than in their states of origin, which is an attraction”.
According to the business leader, security, quality of life, salary increases and prices in the real estate market are factors that forecast a positive outlook in general terms for the real estate sector in Yucatan.
This, according to him, in view of the national and international context, with the price increases in materials such as cement and steel, or the “hoarding” of labor and construction materials with projects such as the Mayan Train.
“Once again, we perceive that as a state we have enough solidity to, even with all these challenges, state that it will end up being a positive year, first because we continue to be the safest state, also of the safest cities in the world; in the country it is like this and at Latin American level we have a good ranking,” he highlighted.
Cervera López considered that despite inflation, real estate market prices in the state continue to be at least 20 percent below national real estate costs.
North and downtown Merida, the most sought-after areas
On the other hand, the AMPI leader indicated that the arrival of people from out of state and foreigners to stay and live in the city also contributes to the dynamics of the real estate market, however, he emphasized that they are more likely to look for houses in certain areas of the city that are already well positioned, such as the north and the center of the city.
“Something that characterizes these areas is that there are not so many new homes, at least in the downtown area, therefore, it would make sense that these people would decide to remodel rather than build,” he stressed.
“The real estate market in Yucatán continues to consolidate and an indicator of this is that houses are starting to grow upwards and not to the sides, as has happened over the years in the region,” he added.
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