Housing and business developments in Mérida have historically been fairly “close to the ground,” but that seems to be changing.
Nearly 100 projects for new highrises are scheduled for 2022, further shaping the city’s skyline.
The trend toward vertical construction comes as Mérida continues to experience high levels of growth and investment.
“We have seen the value of land in Yucatán more than double over the past 10 years and in Mérida itself that number is even higher, though it varies greatly depending on the area,” said Cristián Canto Villanueva, CEO of the construction firm Uno Consulting.
Among the trends in Yucatán’s real estate sector is a growing interest in luxury apartment towers and rental properties for young professionals.
One of the projects most emblematic of this shift is Mérida’s first actual skyscraper, known as “The Sky.” According to the developer’s website, the complex should be complete by the end of 2024 and will stand at 160 meters, with 36 floors and six parking levels.
The total area of the complex will cover over 35,000 square meters and will include residential areas, office spaces, shopping areas, an executive sky lounge, and restaurants.
But not all planned vertical construction projects in Mérida are quite as fancy, as several considerably less luxurious apartment complexes are also slated for construction.
Such high-density housing will put excessive pressure on the city’s already insufficient infrastructure.
“Traffic in the north of the city is getting out of hand, and that is to say nothing of the pressure higher density living is putting on our environment,” said Michelle Ortega, a long-time resident of Mérida’s Montes de Ame neighborhood.
However, there is also a considerable trend of out-of-state buyers purchasing properties as long-term investments or holiday homes. One of the most noticeable defects of this phenomenon is that many homes in the city remain empty for most of the year — giving the impression that they are abandoned.