Home Feature Decoding the myths and truths of the Real Estate boom in Yucatán

Decoding the myths and truths of the Real Estate boom in Yucatán

by Magali Alvarez
1 comment

Real estate supply in Yucatán has experienced a remarkable boom, becoming an attraction for national and foreign citizens. With an average of around 8,000 new homes sold annually, the real estate boom is boosting the state’s economy. In 2023, an economic spillover of 9.3 billion pesos is estimated, an increase of 3 billion with respect to 2019, according to data from the National Chamber of the Housing Development and Promotion Industry (CANDEVI).

Real estate experts point out that one of the key factors attracting investors is the perception of security in Yucatán. According to the Mexican Institute for Competitiveness (IMCO), Yucatán has the best perception of safety in the country, with 68% of the population feeling safe. It also has the lowest crime rate in Mexico, with only 1.8 crimes per 1,000 inhabitants.

Researchers from Allegheny College in Pennsylvania, USA, explain that the increase in violence in other parts of Mexico has made Yucatán an attractive destination for those seeking security for their families. Between 2000 and 2020, Merida’s population increased by more than a third due to the arrival of people from other parts of Mexico.

The mayor of Merida, Renan Barrera Concha, highlights that the quality of life in terms of safety, services, legal certainty, cultural |offerings, sustainability and technology has made the city a magnet for investment.

TYT Newsroom

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