Puerto Morelos, Q.R. – Three new housing projects are set for Puerto Morelos, expanding the current real estate market by nearly 650 homes.
Natural growth of the area has seen company ITM announce the development of new homes for Puerto Morelos. Gerardo Miranda, CEO of ITM, says that the new homes will help position the municipality, offering people an affordable place to live and investors new investment options.
Gerardo Miranda reports that the new developments are Puerto Marino, El Faro and Palma Grand, which together will add an additional 648 houses to the market. Prices, he says, range from 679,000 peso for a two bedroom to 1.3 million pesos for a four bedroom premium home. A medium price range for a standard four bedroom home is also being offered for 950,000 peso.
Real estate in Puerto Morelos will continue to grow since the town is positioned in the international market as a top vacation destination, attracting many visitors to the region, he explained. He also says the building of the new homes means more money for the municipality with the collection of additional taxes, building permits and fees, land use fees and both direct and indirect employment opportunities.