Mazatlan Real Estate Boom of apartment and condo towers

Hand in hand with tourism and the growth of the city, the construction of condominiums and multifamily has grown by more than 60 percent from the period 2017-2018, which places the port before the challenge of expanding its service infrastructure, but At the same time grow with order.

MAZATLÁN._ As a new trend of urban transformation, the boom of the apartment towers stands out in Mazatlán, regardless of whether it is near the sea or popular neighborhoods, which places the port before the challenge of making it grow at the same time the infrastructure of public services, but above all to put order.

Only from 2017 to 2018, 340 permits were issued for multi-family housing units, where a large part of the list is occupied by the buildings of apartments and condominiums, of four or more levels.

This means that the demand increased by more than 60 percent compared to the previous period (2015-2016), when 206 licenses were authorized, according to the information provided by the Directorate of Planning for Sustainable Urban Development of the City Council, after an application for transparency.

This dynamic has begun to transform the urban landscape along the entire coastal strip and its areas of influence: from the southern part, in the center of the city, to the northern tip in the sector of Cerritos, passing through the malecon and the subdivisions that offer the additional advantage of being located a few steps from the beach.

Among these, the Sábalo Country stands out, where 51 permits have been issued for new works of departmental towers in the last ten years; as well as 15 in Gaviotas as well as in Lomas de Mazatlán, to mention the settlements that have “migrated” from the traditional way of single-family houses to a conformation where the rise of the apartments and condominiums is increasingly taking on more space.

On the other hand, there are the mixed developments offered for sale housing and commercial premises, and include from their design the alternative of living in a department, a modality that has soared from 2017 to date as well as the issuance of permits, which It coincides with the administration of the PRI members Fernando Pucheta and the interim Joel Bouciéguez.

A case that will be submitted to review by the new municipal government, headed by Luis Guillermo “El Químico” Benítez.

New government will apply filter to projects

With the arrival of the new administration, emanating from the ranks of Morena, the request to build condominium towers has been stopped and, instead, the revision of the constructions in process to verify compliance with the regulations has begun.

The director of Planning, Víctor Sainz Sánchez, pointed out that to date eight developments have been closed because they do not comply with the provisions of the permits, the most serious for building a floor over what is authorized.

“There have been few closures, but they have come to be regularized; we are not holding back the permits, but we are only authorizing what is attached to the regulation and complies with the feasibility of services of the Jumapam and the CFE. “

And on this subject, Sanchez Sanchez referred to the complaint of the residents of Gaviotas fractionation, who placed a blanket of rejection to the construction of apartments, claiming that increasing population density is affecting the water supply and tranquility.

The official assured that the commitment of the new government is not to authorize more towers without the consent of the settlers and without the necessary capacity for the provision of access, drinking water, drainage and electricity.

Growing on par in infrastructure: the challenge

“The baton is being carried out by the condominiums, but the challenges are to provide infrastructure, both drinking water, drainage and roads for all the projects that are emerging in different areas of Mazatlan,” said advisor Alfredo Reynaga Chicuate, former president of the Mexican Association of Real Estate Professionals (AMPI) chapter Mazatlan.

In this regard, he said, we depend on what happens with the hydraulic infrastructure that will connect Mazatlán with the Picachos dam, given that the aqueduct’s work has not been completed and has been postponed for years.

Who sees an opportunity is the secretary of Economic Development and Tourism, David González Torrentera.

Alfredo Reynaga Chicuate, former president of the Mexican Association of Real Estate Professionals (AMPI)

The municipal official foresees that with the arrival of tourism real estate projects, among which are the departmental towers, the collection of the property will be substantially increased.

“This also means that the municipality will collect the property tax from the tourist order, when before it only assessed it as a land, with which they will reach the resources, especially because in this administration, they will be used with austerity and transparency, then of course there will be money” , said in an interview, in which he reported that investment in economic development projects has not stopped. Quite the opposite.

Upon the arrival of the new administration, 44 projects equivalent to 9 thousand 700 million pesos of investment were being executed, mainly in the tourist real estate sector.

“In this short time that we have as a municipal government, 3,960 million pesos have been established and started in projects such as hotels and departmental condominiums, which are already in execution only in this couple of months, which we have managed to establish,” he said.

Mazatlan, he said, no longer has problems attracting investment, now the challenge is to grow with order.

From the time shared to the vacation rental

For Reynaga Chicuate, the boom of the departments is far from real estate speculation practices.

It comes hand in hand with tourism and the market of nostalgia.

And it is that the departments have come to cover the deficit of hotel rooms that still faces Mazatlan, in comparison with the great destinations such as Cancun, which has an accommodation offer of more than 40 thousand rooms, while Mazatlan is only around 11 a thousand rooms.

In this way, said the expert, the vacation rental is shaping up to replace the sale of timeshares, a pujuante industry between the 80s and 90s.

“The fact that the sale of apartments has skyrocketed has a lot to do with vacation rental, since Mazatlan is a destination that still faces a shortage of hotel rooms and these come to cover that demand to a large extent,” he added.

A good percentage of those who buy apartments are local buyers with the intention of offering them for rent for holiday purposes, either per week or month.

And on the other hand, those who have maintained a connection with Mazatlan over time have decided to invest.

“We are talking about those who have some relationship with Mazatlan, who were born here but because of study or work they had to go, they are buying apartments; who have their family here and know that they will always come back. “

The same as foreigners who once had Mazatlan as their frequent destination have overcome the financial crisis of 2008, and are choosing to fulfill their dream of living near the sea.

Source: noroeste

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