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Merida’s condo boom, by the numbers

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Country Towers
Country Towers, which began construction in 2011, was just the beginning of a condo boom.

Condo construction permits more than doubled in 2014 over the previous year, with 578 transactions involving more than 3,000 new units, Sipse reports today.

The head of the Public Registry, Clemente Escalante Alcocer, said that statistic will get even more striking as applications continue until the end of the year.

“This means that condominium ownership is soaring, particularly in Merida,” he said. “This is a sign that Yucatan has advanced… Entrepreneurs have presented several projects that are creating new condos and new housing developments having to do with the condo.”

The registrar said the process to arrange a condominium property begins when a business or manufacturer goes on notice, requesting the development of a real estate project.

Escalante Alcocer noted that 2014 permits foreshadow construction projects in 2015, particularly north of the city.

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