Cancun, Q.R. — Real estate development company Grupo Cumbres will continue with their housing expansion project into 2016.
Eduardo Martinez Gonzalez, CEO of Grupo Cumbres, says the project will consists of 1,500 residential lots being sold for the company’s Aqua and Arbolada projects located in Cancun’s south side.
He says, “Between the two developments we will begin the second phase. In Aqua, we have already sold 30 percent of the 900 lots that average 180 square meters and 700 of the Arbolada lots which are 120 square meters.”
Each house will average four people, making room for an additional 6,000 residents in that area of Cancun.
Martínez González explains, “We will also have many projects this year in the hotel industry, which will bring new hotel rooms which benefits the property, because you have to meet the housing needs of the people who come here to develop and operate.”
The development group already has 5,000 family-structured houses throughout the state. The current expansion projects in the south portion of Cancun are 1 million peso homes, which according to AMPI, are within the average price range.
The Mexican Association of Real Estate Professionals (AMPI) in Cancun show that the average residential home has a wide range of between 500,000 and 3 million peso and that the demand for these houses is rebounding for 2016.
There are at least 20 foreseeable developments in the area designed to serve a market that was not being served since social interest if often positioned around larger projects such as Puerto Cancun and the Hotel Zone.