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Cost of Playa del Carmen homes up by 20 percent

Playa del Carmen, Q.R. — According to the Mexican Association of the Real Estate Industry, the cost of housing in Playa del Carmen has increased nearly 20 percent over the last two years.

Wilberth Gutiérrez Álvarez, founder of Asociación Mexicana de la Industria Inmobiliaria, says the increase is based on the sale of homes with a value of 350,000 peso. He adds that the cost of housing has seen an increase average of between 15 and 20 percent.

“In the last two years, the cost of housing has increased between 15 and 20 percent (…) you cannot expect the cost of housing to not increase when the cost of building naturally increases.

“While it is normal that there are increases in prices, also add that we are in an area where the surplus value is quite high adding more reasons for these increases,” he explained.

Gutiérrez Álvarez said that many people buying homes utilize both Infonavit and banks. He says he expects better conditions for obtaining credit with the entry of the new federal government as well as changes in laws such as the National Housing Fund for Workers Institute (Infonavit).

“We will gain many benefits because as far as we know and understand, radical changes are to come in the policy of how Infonavit loans are being handled, but exactly what those changes will be, we do not know yet.

“Now, the economic income from projects are going to be felt. They are going to energize the area, such is the case with Chetumal where they want to send the Secretariat of Tourism, a significant amount of housing is going to be needed and that is investment,” he added.

He said that the project to build a train will also stimulate the construction of more housing over the next six years.

In Playa del Carmen, it’s west of the city where the developers build the greatest number of houses he noted, adding that during the last year alone, around 2,000 social housing units were authorized.