Quintana Roo real estate recovery remains at 50% for 2020

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The Mexican Association of the Real Estate Industry pointed out that there were advances in some property loans already processed.

The pandemic derived from COVID-19 finally reached the entire real estate sector, so in Quintana Roo and mainly in Cancun, expectations will conclude at 50% of the original goal.

This was estimated by María Eugenia Martell Sánchez, president of the Mexican Association of the Real Estate Industry (AMII), who pointed out that there had been progress in some property loans already processed.

This, since 2019 and which were closed in the course of this year, while the income category also remained above real estate interests in the town.

The above, because Cancun continues as an attractive city for many visitors who seek to stay and live and therefore seek spaces to stay in one of the most beautiful places in the country.

“Really, regarding the price of the rents, I do believe that they exceeded our expectations since many people looked for them for 20 or 30 thousand pesos,” said Martell Sánchez.

However, those properties of a more specific and exclusive niche, such as the luxury market, did have a drop as they were properties of 50 or 70 thousand pesos.

Martell Sánchez mentioned that, in relation to the office rental and coworking segment, this market segment was moving excellently during 2019.

And although this 2020 saw a halt to its projection, it recognized that in the past few months several companies that required offices and spaces to continue their operations arrived at the destination.

“The companies that arrived had and wanted to continue working and although they did not do it 100%, they practically applied what many others, which was to work remotely, we did have income from this type of office.”

Regarding what awaits the sector, the head of AMII was optimistic and indicated that according to weekly statistics, it will recover soon, like everyone else, but according to the epidemiological traffic light in the country.

Source: realestatemarket.com.mx

The Cancun Post