Expats stop buying houses in downtown Merida

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Foreigners do not buy properties due to the uncertainty that prevails until today due to the coronavirus pandemic

The gentrification process that has been taking place in the Historic Center of Mérida for some years slowed down with the arrival of the pandemic since the conditions of uncertainty that exist until today are not viable for foreigners or foreigners to buy properties as happened. , considered the president of the Historic Center Preservation Board, Enrique Ancona Teigell.

In the same way, he indicated, that another factor that has been affected is the capital gain of the buildings because it is also in a process of stagnation, that is, its price does not continue to rise and could reflect some decrease.

Intervención de la vivienda en el Centro Histórico de Mérida – Editorial  Restauro Compás y Canto S.A de C.V

“It is a process that continues, although perhaps right now the pandemic has reduced that part of mobility and of people who are thinking of changing places and coming to Mérida, but it is definitely something that is happening and it will be more and more”, explained.

He stressed that foreigners come to Yucatan in search of spaces to live in the Historic Center, unlike Yucatecans who seek spaces in the same area to establish a business such as a restaurant, hotel, bar, or cafe, among other things.

He specified that the reduction in economic and human activity has caused many businesses to close their doors, which could cause adjustments in property prices.

Casas abandonadas, serio peligro – Yucatán a la mano

“I believe that the pandemic is helping to stop the acceleration process that was taking place and that the value of the properties in the Historic Center may be adjusted or leveled downwards, it does not mean that it does occur, but if The historic center is no longer attractive for commerce and then it changes to housing because then this transition can help prices to adjust, “he said.

Ancona Teigell, stressed that today those who have liquidity and the ability to buy, do so at the best prices, although the problem is that the country and the state are going through a stage of economic uncertainty that does not know what the total impact will be.

He estimated that in the last five or 10 years the economic value of properties has increased significantly, although he did not specify a percentage.

Abandono de casas en el Centro Histórico de Mérida, estrategia de  propietarios: UADY | PorEsto

He added that although it is very noticeable that more and more foreigners are buying homes, there are also some Yucatecans who buy them, although in fewer numbers.

Source: yucatanalamano.com, sipse.com

The Yucatan Post