Merida registers strong increase in demand for housing

Expats see the Yucatan capital as a retirement destination and ideal to raise children….

MERIDA — Although demand for housing dropped by 7% nationwide, some cities in the country showed an average increase of almost 21%, mainly due to the growth of industry and foreign investment.

Making a comparison between the first 8 months of the current and last year, cities such as Merida, Querétaro, León, and the municipalities of Metepec and Huixquilucan, in the State of Mexico, recorded an average growth of almost 21%.

Due to the strong industrial investments in the city, the demand for housing in Querétaro increased 26.7% to the month of August of this year; while in the State of Mexico there was a 22.4% growth in the residential markets of Metepec, Naucalpan, Atizapán and Huixquilucan, according to data from the Federal Mortgage Society (Sociedad Hiportecaria Federal, SHF, in Spanish) and the real estate portal Propiedades.com.

Meanwhile, in Guanajuato the increase was 22.3%, driven by Leon.

The Harbor Merida Mall at Via Montejo Real Estate Development (Image: Google)

Meanwhile in Yucatan the demand for houses and apartments grew 11.4%, as a result of the strength of the Merida market.

“Many factors have made these cities register this increase in the sale of housing and it depends a lot on their particular dynamism, but the thing that these cities have in common is that they have a strong industry in consolidation thanks to a stronger foreign direct investment, “explained Javier García, regional director of Lamudi Mexico.

Source: laverdadnoticias.com