The real estate sector in Cancun reported a 30% drop in demand during the second quarter of the year in properties for purchase purposes, confirmed Patricia Mora Vallejo, president of the Mexican Association of Real Estate Professionals (AMPI) in this tourist center.
The elections, and the high seasons that were not so “high”, resulted in this economic phenomenon, where people are even looking to pay lower rents, with a drop of up to 40% in this last subsector.
Mora Vallejo commented that the first quarter of the year was good, but the elections, both in Mexico and the United States caused negative expectations in investment.
She emphasized that Quintana Roo, by itself, promotes itself, since there are investors who continue to build and develop various projects, mainly condominiums and luxury apartments.
Investments of 380 million US dollars for Cancun, which would be focused on areas such as hotels, condominiums, and shopping malls, will materialize next year.
TYT Newsroom
