Foreigners are the preeminent buyers of houses in Yucatán

Merida Centro homes in need of renovation catch the eye of some American real estate investors. (PHOTO:

Yucatán is having exponential growth in housing development. However, the main buyers are people from other states or countries, stated the president of the National Institute of Real Estate Professional Advisors of Mexico A.C. (Inapim), Juan Ignacio Alzaga Rodríguez.

He stated that between 40 and 50 percent of the people who serve in the real estate sector and who buy a home in Yucatán are clients from other cities in Mexico.

The president of Inapim pointed out that, compared to local people, for whom housing costs are high, it is very cheap for clients who come from outside the State to buy in Mérida and its surroundings.

He specified that the increase in the cost of homes, most of which currently exceed one million pesos, has affected sales; However, there is a market for all areas.

Alzaga Rodríguez commented that the real estate developments in the northern area of ​​the city known as the Diamond Zone and the northeastern area known as the Golden Zone are focused on foreign clients.

He stated that in the central, eastern, and western areas, the needs of the local client are being met, such as the case of Caucel, Opichén and the east of the city, towards Tixkokob, where housing is being developed “for the Yucatecan.”

He added that foreigners from other countries buy mainly in the northern or Diamond area of ​​the city and beach area, where Chicxulub and Telchac have had a significant rebound in sales.

The leader of real estate professionals indicated that the area of ​​magical towns, such as Izamal, is in the same vein.

“Many Canadians and Americans are arriving, however, what we have is a strong rebound in Europeans,” he said.

He pointed out that by being part of a national association, synergy is being made with people from Tijuana and Nuevo León who have foreign buyers and who are served by Inapim.

He specified that many of these buyers show interest in Yucatán in the aforementioned areas and in the Historic Center that, as is well known, some purchase houses and remodel them.

TYT Newsroom