Real estate development boom “sustains” Mazatlán during the pandemic

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Mexicans leading real estate purchases in Mazatlan

70% of sales are concentrated in buyers from Durango, Chihuahua, Coahuila, Nuevo León with costs ranging from 3.5 to 7 million pesos

Mazatlán, Sinaloa. – The Covid-19 pandemic promoted the construction and commercialization of real estate throughout the country and in Mazatlán it has not been the exception, since despite the health contingency and the economic crisis, in the last 14 months the boom in the development of vertical complexes and sales levels have been constant, so much so that they have sustained the port’s economy for the last 14 months.

The president of the Real Estate section of the Chamber of Commerce, Óscar Tirado Bernal, stressed that as long as there is a market to invest in, there will be developers who continue to build.

” Surprisingly, unlike what was expected, in the last 14 months a very good level of sales has been maintained for Mazatlán, especially unlike other destinations that are in this bonanza, which we hope this will continue for a few years more, “he said.

Therefore, the importance of public policies that are executed with public investment plans and projects to encourage private investment in the development of condominium towers, subdivisions, and all types of residential houses in the city.

Tirado Bernal commented that due to the potential of the Northern Economic Corridor, 70% of sales are concentrated in clients from Durango, Chihuahua, Coahuila, Nuevo León, as well as Jalisco and the Latin market in the United States linked to Sinaloa.

” The national investor has displaced the international one. Mazatlán is becoming totally an investment destination for Mexicans. As long as that potential continues in that search for real estate in a beach destination, it generates great confidence, and above all that it can be enjoyed and above all that it can receive a return on investment through the income of the people who are buying here, “ he said.

70% of sales are concentrated in clients in Durango, Chihuahua, Coahuila, Nuevo León, as well as Jalisco and the US Latin market. 

He noted that Mazatlán is still attractive because the available units are affordable for a large majority of buyers, unlike other beach destinations such as Puerto Vallarta, Los Cabos, and Cancun, where prices double.

The real estate agent also indicated that the areas of greatest demand are the condominiums on the beach, Malecón, Zona Dorada, and Cerritos, which have a cost of 7 million pesos.

However, when the budget is not enough, the next search is the parallels to the coastline that are the Center, South Beach, Olas Altas, Palos Prietos, Ferrocarrilera, Lomas de Mazatlán, Sábalo, Gaviotas, and El Dorado, as well as the subdivisions from the Cerritos line, with a cost of 3.5 to 4.5 million pesos, and the third option is low-income houses.

In the last two years and eight months, there have been 36 billion pesos in private investment in Mazatlán, of which 63% is focused on real estate-tourism development.

For 2021 there are 40 vertical developments planned, located in different areas of the city and although it is estimated that the pre-sale apartments will be placed in 36 months, reality shows that they will be sold in 12.

The great growth projection that continues in Mazatlán and the consolidation of what is to come, such as the Aerospace Park and the new tourist pier, will continue for at least 10 to 15 years.

Source: elsoldemazatlan.com.mx

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