mcm
Sep 18, 2013, 12:11 PM
Post #16 of 17
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Another factor to consider when evaluating "Mérida'' real estate is the issue of over-development, leading to vacant properties, and absence or underdevelopment of infrastructure (particularly roads, etc.). These are problems that are currently a real headache in the Mérida area.
For example, a HUGE development (Ciudad Caucel) was started about ten years ago west of the city. The goal was about 50,000 homes. I'm not sure how many have been finished (there were multiple developers, multiple developments involved), but many are empty, there are too few schools for the children of residents, the access to Mérida is a bottleneck (currently being retrofitted by the state government, with federal funds, in a partial solve). Likewise, another new development north of Mérida, Las Americas, with around 5,000 homes has similar problems of underoccupation, deterioration of properties etc.
Both of these areas were marketed to ''middle class'' (e.g., working middle class, especially as starter homes), not as high end homes. However, some more upscale developments have also suffered from low occupancy and inadequate support structure (especially roads).
The point is that this oversupply of mid-level housing SHOULD be a bit of a damper on prices, though, of course, not speculators with raw land (especially land in locations good for commercial/business development).
Re: areas outside Mérida, like the proposed Telchac ''development'' mentioned by Yucalandia (Telchac Puerto is a beach town, about 50km from Mérida, and Telchac Pueblo is an inland town about 20km south of the beach town -- the former is about 45 minutes to an hour drive from Mérida). There have been several attempts to lure upscale residents to these areas, but all have been unsuccessful (these include a very ambitious project, including a proposed golf course between the coast and the town of Dzemul (just west of Telchac), and another project even closer to Mérida, near the town of Chicxulub Pueblo). Recent upgrades and major widening of ''highways'' between the coast and outskirts of Mérida have led to a number of high-mid end developments between the coast and neighboring towns (e.g., Conkal-Chicxulub highway), but it's unclear how successful these will be.
There is a very large complex, Yucatan Country Club, built about 15km north of Mérida near the Dzibichaltun archaeological site. This is a VERY upscale planned development, complete with golf course and several different housing options (high rise condos, individual homes, townhouses), and seems to be doing well. The development has been gradual, and it is well-financed, by people who know the area (and market) very well. The vast majority of buyers are Mexicans, not foreigners.
There is a LOT of money coming into the area, as investors from other parts of Mexico, as well as Yucatecan investors, attempt to exploit (I don't necessarily mean that in a pejorative sense) Yucatán's reputation as a ''safe'' location, relative to other parts of Mexico. As I said in a previous post, I am much more skeptical than Yucalandia about Yucatán state as a site of a major influx of foreign (especially Canadian and US) residents, but am fairly sure that the influx of Mexicans to the peninsula is likely to continue for a while.
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