Property Prices Skyrocket 400% Fueled by Mayan Train

New trends in the Mexican real estate sector show the southeast standing out as one of the fastest-growing markets. According to Flat.mx, this region has witnessed a remarkable value increase of over 400%, associated with the Mayan Train. Technology and sustainability represent other key trends brokers and companies must follow. 

According to Flat.mx’s latest real estate report, while urban areas such as Mexico City, Monterrey and Guadalajara continue to thrive, they are not the only regions grabbing attention. Smaller cities like Cancun and Merida, once overshadowed, present opportunities that defy expectations. The report highlights that in both cities, the construction of houses, hotels, residential complexes and commercial buildings is growing at an accelerated rate. 

The report highlights the significant influence of the Mayan Train on the real estate market. Prices per square meter have skyrocketed, moving from a 15.37% growth rate in 2018 (the year when the project was announced) to almost 400%, just 12 months later. According to Bernardo Cordero, Co-Founder, Flat.mx, this represents a diversification opportunity, which poses another challenge for brokers as they need to become familiar with these markets’ unique features. “Demand varies, trends change and, with technology playing a more significant role than ever, it is crucial to stay up-to-date with the latest innovations

However, according to La Jornada, the average cost per m² in the southern region remains notably lower compared to traditional markets such as Jalisco or Mexico City. This translates to prices that are 50% cheaper, significantly enhancing the appeal of undertaking development projects in that area.

Flat.mx’s report also highlights the role of technological tools permeating the sector. It stressed that brokers must adapt to these new tools, like virtual reality, interactive visits and artificial intelligence, to better address new demands. Another trend is the incorporation of sustainable solutions for buildings. The firm highlighted that it is no longer sufficient to have aesthetically pleasing buildings. During 2H22, it observed a shift toward more sustainable and environmentally conscious developments. “Homes with solar panels, rainwater harvesting systems and green spaces are not just ‘nice additions,’ they are becoming requirements,” the report concludes. 

Flat.mx emphasizes the preferences of millennials, who are poised to be the primary property buyers. The company asserts that this generation is particularly interested in acquiring smaller, more affordable homes situated in urban areas with convenient access to services and cultural attractions.