Dikap New Year’s Party
16 April, 2023
Merida, the capital of the state of Yucatán, has experienced remarkable growth in recent years. The city’s expanding population, investments in infrastructure, and influx of foreign residents have contributed to it’s economic and social development, while also fueling demand in it’s ever-evolving real estate market.
Since 2000, Merida’s population has grown by 33%, reaching over one million inhabitants today. This surge in population has driven new residential construction and the renovation of historic neighborhoods. According to data from the Ministry of Agrarian, Territorial and Urban Development (SEDATU), more than 10,000 homes were built in the city in 2020, representing a 12.5% growth compared to the previous year.
Foreign interest in Merida has also been an important factor in the city’s real estate market. The number of foreign residents has increased by 8% from 2010 to 2020, with many choosing Merida as their permanent place of residence, which has further stimulated the tourism and real estate industries in the city.
This population growth and the resulting demand for housing have contributed to an increase in property prices in the city. According to the real estate portal Lamudi, the price per square meter of property in Merida has risen by 35% in the past five years, which demonstrates the city’s strong appeal to investors.
In conclusion, the Yucatecan capital has undergone remarkable growth in recent years, which has also spurred an ever-changing real estate market. If you are considering investing in real estate in Merida, now may be a good time to do so.
