Latest on Mazatlan's real estate development growth

The recent violent events have not been a factor of fear in the investments of those seeking to acquire real estate in the port of Mazatlan, acknowledged Jesus Lopez Tirado, former president of the Mexican Association of Real Estate Professionals (AMPI).

The AMPI member assured that there are no consequences in property sales after the latest high-impact cases, two of which were in authentic tourist locations. "We do not see that there are consequences of fear to invest or make a purchase decision as a result of these unfortunate events that claim lives."

He said that the violence has not "sowed" fear in investors, perhaps because these were particular cases, which occurred in May and June.  He even indicated that people interested in buying a property in the municipality do not even mention what happens daily.

He acknowledged that the violent cases in the city are not causing a negative influence on the interest of people from other states who want to acquire spaces to live in the port. Lopez Tirado assured that the port's attractions impress visitors and invite them to invest in properties, as they perceive Mazatlan as a city of future and progress.

Demand continues

Until yesterday, he indicated that the demand for real estate was similar to that presented between 2020 and 2021, despite the covid-19 health contingency. He said that between 15 and 20 percent is the preference of those seeking to have a vacation space. Those interested in owning residential property, he said, focus on properties close to the beach, which must have two to three bedrooms.

He mentioned that the demand for vacation spaces is maintained even though interest rates have risen to one and a half points. "People continue to buy real estate in a sustained manner. We don't see it growing beyond what we were seeing before the health contingency." He described as good the interest in the acquisition of housing properties, despite the increase in the prices of building materials.

Jesús López Tirado commented that they expect to maintain the interest in the purchase of a real estate in the second semester of this year. He did not rule out that the purchase percentage will increase as the last month of 2022 approaches, after a greater acceptance.

The Facts

The properties

Investors who wish to have a housing space in the port are interested in acquiring properties close to the beach, which are acquired merely for vacationing.

Inland

The properties acquired by interested parties, mainly for vacation living, must have all the services of a home, in addition to having two to three bedrooms. Between April and June, there were 2 high-impact events in tourist areas, which, according to the AMPI, do not affect people's investments to acquire real estate in Mazatlan.