Quintana Roo ranks second in country for having the highest demand for real estate
Cancun, Playa del Carmen and Isla Mujeres have the highest demand for real estate properties in the state of Quintana Roo, making it the second largest real estate market in Mexico.
According to the Mexican Association of Real Estate Professionals (AMPI), Quintana Roo is experiencing the second largest real estate activity in the country. First place goes to Tijuana.
Solar Gustavo Campos, national executive vice president of AMPI, said that the domestic market remains buoyant despite the social instability that has been generated in some states.“Internationally the country looks favorably for investments and this industry represents a share of 14.1% in Gross Domestic Product at a national level, only behind the automotive industry,” said Gustavo Campos.
It recognizes that there are cities in Mexico where real estate investments could present momentary contractions due to issues of insecurity but he stressed that the state of Quintana Roo is still attractive and interesting for investors.
“We have the fact that the Real Estate Developers Association has generated information that could get between $200 and $500 million in the upcoming year through investments that deal with new shopping malls and different types of housing throughout Quintana Roo,” said the real estate expert.
He further explained that AMPI has a projection in which they estimate that in 15 years, the growth of real estate in Mexico will be 220%, giving higher annual rates that will translate into opportunities for the professionals they represent.
The recent Real Estate Forum 2015 provided a presentation of the Law on Provision of Real Estate Services of the State of Quintana Roo and regulation with real estate consultants who came from Cozumel, Cancun, Tulum, Playa del Carmen and Campeche.
Approximately 220 real estate participants attended the event including AMPI state and local municipal authorities and national leaders who came to participate in the workshop on the new legislation.