Real estate sector continues to see investmentsMexico Playa del Carmen 

Real estate sector continues to see investments

Playa del Carmen, Q.R. — More than $200 million USD have been committed to various real estate investments for Solidaridad already this year.

President of the Mexican Association of Real Estate Industry Wilbert Gutierrez Alvarez confirmed that more than $200 million USD are expected in real estate investments for Riviera Maya during the 2017 year.

“There is concrete data that show 400 apartments are being built in the center of the city of Playa del Carmen. Each of these apartments have an average value of about $150,000 USD, so you are talking about about $100 million dollars just in the center of Playa del Carmen, not to mention all the buildings being constructed in the residential housing market in surrounding areas, which at today’s value is just over $200 million USD.”

Due to recent violent acts in the region, there was concern, he says, over these acts affecting the destination as it did with Acapulco.

“It would be hard for me to say that it has affected us significantly, fortunately, although there have been a few incidents of violence.

“I still have difficulty in thinking about a generalized situation, and I make analogies of a Acapulco case where violence was so evident that it drastically affected investments and tourism, but so far we have not reached those levels.”

Gutierrez Alvarez described security measures as good, saying that the violence that was seen in the municipality has been reversed.

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