Published On: Mon, Apr 2nd, 2018

Most properties on sale in the Riviera Maya are appraised in US dollars

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Playa del Carmen, Tulum and Cancún are among the five cities with the largest offer of real estate in all of Mexico, followed by Mexico City and Tijuana.

According to an analysis carried out by the real estate website Propiedades.com, in the municipality of Solidaridad there are 2, 935 properties available; in Mexico City, 2,767; in Tulum, 998; in Benito Juárez (Cancún) 988, and in Tijuana 976.

Playa del Carmen, Tulum and Cancún are among the five cities with the largest offer of real estate in dollars.

In that sense, the website analyzed the percentage of houses appraised in dollars in comparison with the total of the active offer.

The first place is for Tulum, which active inventory offered in dollars is 90.89%. It is followed by Playa del Carmen, whose inventory in dollars is 66.70%. In the third place comes Tijuana with 43.83% of the inventory; Cancun is fourth with 30.22%, and Mexico City is fifth with 6.87%.

He explained that tourist destinations and border cities are the most susceptible to assess their real estate inventory in dollars, due to a greater demand by foreign investors.

Real Estate analyst at Propiedades.com, Leonardo González, said that both destinations are related to markets and open niches that have a higher exposure to polarization of investments, because they are properties that go on sale around the world.

In addition, “there are also more foreigners who want to retire or live in Mexico. This allows a better comparison, since sometimes they are not familiar with the exchange rate, which is always fluctuating” said the managing director of Coldwell Banker Urbana, Eric O’Farrill.

Thus, the highest prices are found in Mexico City, where the cost per square meter of apartments is 4,972 dollars and 3,250 dollars for houses.

It is followed by Cancún, where the price per square meter is 3,189 dollars for apartments and 2,574 dollars for houses; Playa del Carmen, with 2,834 dollars per square meter for apartments and 1,592 dollars for houses.

Tulum is ranked fourth, with 2,130 dollars per square meter in apartments and 2,025 for houses, while Tijuana closes the list with a price per square meter of $452 for apartments and $964 for houses.

Leonardo González explained that if the home is priced in dollars, then the starting price is based on the exchange rate at the moment of the transaction.

Source: SIPSE



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