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New figures show Cancun with most new housing sales in Mexico

Cancún, Q.R. – New figures released by Realty World Bienes Raices shows that the city of Cancun had the most new housing real estate sales in the country during 2017.

The municipality of Benito Juárez, home to the city of Cancun, recorded the highest sales in the new housing segment in 2017, according to a study developed by Realty World Real Estate. The study also shows that despite being first in sales in Mexico, the municipality experienced a sale volume drop of 10.4 percent over 2016.

According to Jorge Paredes Guerra, President of Realty World Mexico, the municipality showed that from January to December of 2017, 15,445 homes were sold. Paredes Guerra says that due to consistent employment opportunities, Cancun remains an attractive choice for families.

He added that, “According to data from the National Housing Commission, second in the country was the municipality of Tlajomulco de Zúñiga in Jalisco with the sale of 15,195 houses.”

For real estate housing sales in Mexico, Mérida, Yucatán was fifth with the sale of 9,341 homes and the municipality of Solidaridad, home to the city of Playa del Carmen, took eighth position with 7,711 homes sold during 2017.

Paredes Guerra explained that the tourist areas are the ones that most mobilized the sale of new houses.

“The municipalities of Mexico with the highest number of new housing units are located in tourist areas as well as Bajío (west, north-central Mexico) and the northern areas of the country linked to the industrial sectors of transport, television, telephony and computing,” he said.

He added that they anticipate the real estate sector to maintain good conditions during this year.

“For the current year, we hope that if interest rates are maintained, we can reach the same levels of new and used housing placement that were reached throughout 2017. However, the July 1 electoral process as well as the renegotiation of the Free Trade Agreement may influence the forecasts for the real estate sector,” he said.

According to the National Housing Commission, the top 10 municipalities for new home sales in 2017 were:

Benito Juárez, Quintana Roo: 15,544
Tlajomulco de Zúñiga, Jalisco: 15,195
León, Guanajuato: 11,707
García, Nuevo León: 10, 736
Mérida, Yucatán: 9,341
Querétaro, Querétaro: 8,505
Aguascalientes, Aguascalientes: 8,288
Solidarity, Quintana Roo: 7,711
Reynosa, Tamaulipas: 7,268
Veracruz, Veracruz: 6,836

In January, the Latin American Real Estate Confederation said projects from Cancun to Tulum were booming, and that the region had between 40 and 50 billion peso in upcoming real estate projects.