For several years now, Mérida has been on lists of the safest cities to visit and live in. In 2022, the Reader’s Choice Awards ranked it the fourth-best city in the world, so it's no surprise that the Yucatecan capital is one of the benchmarks for real estate investment in Mexico.
In 2023, Yucatán confirmed its credit rating in the A+ category, which means it is astate with great financial strength for investment. This characteristic has attracted dozens of large companies, which have decided to expand their operations in the state, thereby generating jobs and promising economic growth. Furthermore, domestic and foreign investment, along with the creation of modern infrastructure, has led to a rapid growth in real estate investment in Mérida.
That's why, in this blog, we'll tell you 5 surprising reasons why you should invest in Yucatán in 2024. Discover them!
2024 promises rapid economic growth in the state of Yucatán, specifically in the city of Mérida, a constantly developing city that will see a significant population increase in the coming months, estimated to reach 2.2 million people by 2025.
According to data from El Economista, Yucatán is the third state in Mexico with the highest investment expenditure, with a total of more than 130 million pesos, and is also the seventh state nationwide with the largest contribution of tourism to GDP. Thus, the economic projection for 2024 paints an encouraging picture for real estate investment in Yucatán, specifically in the capital.
Some economic portals, such as El Financiero, point to guaranteed economic growth, with the expected arrival and expansion of major companies such as Amazon, Mercadolibre, Kekén, and Heineken; this, combined with the construction of first-class road infrastructure, such as the gastronomic corridor, the Mayan Train, and the IE-TRAM, is allowing more and more people to turn to Mérida's real estate offerings.
Why invest in Yucatán in 2024? One reason has to do with connectivity, as Mérida's connection points with the most important destinations in Mexico and abroad have multiplied over the last decade. Thanks to this, state authorities have come to consider Yucatán a crucial connection point between Mexico and the East Coast of the United States.
The launch of land connections such as the IE-TRAM and the Maya Train; air connections, with flights between Mexico and Canada and the United States; and sea connections, with the consolidation of the Deep Sea Port, which receives large tourist and cargo vessels, make real estate investment in Mérida even more attractive.
Another factor that contributes to Yucatán's connectivity with the commercial and tourism sectors is its geographic location. The state is close to the most popular tourist beaches, such as Progreso, Chuburná, Sisal, and Celestún, the closest of which is just 20 minutes from the Mérida ring road; to archaeological sites such as Chichén Itzá, Uxmal, and Dzibilchaltún; to cities such as Cancún and Campeche; and to municipalities with the distinction of being magical towns, such as Valladolid and Izamal.
In addition to its easy access to cities in Mexico, Mérida is undoubtedly an area that opens the door to foreign investment thanks to its airport connectivity, with daily flights to Miami, Mexico City, and Monterrey, in addition to a land infrastructure that connects the city with Cancún, Chetumal, and Playa del Carmen, for example.
The investment potential in Mérida is enormous; currently, nearly one million people live in the Yucatecan capital, a number that has grown considerably in the last five years. This is due, in part, to real estate investment, as the construction of luxury residential developments and apartment complexes has opened the door to new ways of life: close to nature, within a modern city, and with a better quality of life.
The specialists in real estate investment in Yucatán have high expectations for the development of this sector in 2024, expecting investments to exceed 10 billion pesos, with the majority of the economic impact concentrated in Mérida.
As the city grows and the number of inhabitants increases, so does the investment potential. To this end, authorities have allocated economic packages aimed at encouraging domestic and foreign investment, offering funds and other financial support programs aimed at developing industries in Yucatán. Mexican companies such as Bachoco, Bimbo, and Barcel, to name just a few, have taken advantage of this opportunity.
Investing in Yucatán means investing in quality of life for the present and the future. According to data from INEGI (National Institute of Statistics and Geography), more than 12,000 foreigners have settled in the Yucatecan capital, a city ranked as one of the safest in Mexico and the world. Among the city's distinctive features (which have favored real estate investment in the state) are its security and the opportunity to pursue a lifestyle removed from the hustle and bustle of large cities, yet with the opportunity to experience a cosmopolitan city that lacks nothing.
There's no doubt that real estate investment is a strategy for the well-being of the entire family. In Mérida, both children and adults have access to outdoor activities, surrounded by nature and in an environment where a sense of community prevails, achieving greater harmony and security.
Quality of life is also directly related to accessibility to basic services; In Mérida, residents have access to top-quality services, such as prestigious educational institutions, specialized hospitals, and shopping centers housing exclusive national and international brands. In other words, Mérida offers everything residents need to live a fulfilling life.
Thanks to real estate investment, Mérida's educational, hospitality, and commercial offerings are sufficient to meet the needs of its residents, and these options are expected to become even more diverse over the years. The added value, investment potential, quality of services, and accessible infrastructure also represent advantages that investors and future residents consider when choosing Mérida as their new home.
Knowing all these key points will undoubtedly make you look at all the possibilities that real estate investment in Yucatán offers in 2024.
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