Drop in prices of 10% in real estate properties in the Riviera Maya

According to the President of the Fundaci贸n para la Inversi贸n en la Riviera Maya, Wilberth Guti茅rrez 脕lvarez, now is a good time to invest in property. Guti茅rrez attributed the 10% drop in prices in real estate due to the current pandemic and its global economic crisis.

The Fundaci贸n has identified more than 5000 units whose prices have decreased in price. This includes all types of properties. From social housing, condos, apartments to large properties such as land, cenotes or even hotels. Regarding banks, Guti茅rrez affirms that as a result of the economic situations, banks are also lowering their interest rates. With interest rates of about 7.6%, the purchase of property through credit could be much more beneficial than before. Now, the interest rates have a general range between 7 and 9 percent. In addition, the conditions of payment for credits and mortgages have also become easier.

Don’t miss: Riviera Maya’s tourism continues to rebound.

What is next after the drop in prices?

Last, Guti茅rrez 脕lvarez assured that the Riviera Maya will recover soon. Despite the global economic crisis, many sectors will have positive figures between this year and next, including real estate.

See the full interview in: Riviera Maya News

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