Mexican beaches have become favorite destinations not only for vacations but also for living. From 2015 to 2020, 2.5 million people migrated to these coastal areas, according to the National Institute of Statistics and Geography (Inegi). By that year, 57.9 million people were living on the Mexican coasts, and it is expected that this number will increase to 64.1 million people by 2030.
This population increase has led to rising housing prices. The Federal Mortgage Society Index (SHF) showed that in the fourth quarter of 2023, Baja California Sur, Quintana Roo, Sinaloa, Baja California, and Nayarit were the five states where housing values experienced the highest growth.
However, there are still Mexican coastlines where residential properties have prices below 30,000 pesos per square meter.
Taking into account beaches with more than 1,000 inhabitants, which offer services, infrastructure, and have tourism potential, there are 13 destinations with apartments for sale that have an average value ranging from 30,581 pesos down to 5,471 pesos. As for houses, there are 28 beaches where the value is below 30,000 pesos per square meter.
Nevertheless, in most of these tourist spots, the broader and newer real estate offerings close to the beach are apartments, as these are the developments favored by real estate companies.
Let’s explore some of these destinations:
1. Veracruz: This state has several cities with the lowest prices in the country. Tuxpan, in particular, stands out as the most affordable destination for apartments, with an average price per square meter of 5,471 pesos, according to data from Propiedades.com. Tuxpan’s population in 2020 was 154,600 people, with 48% men and 52% women. Compared to 2010, the population increased by 7.84%**.
2. Campeche, Campeche: For houses, Campeche offers the lowest price at 8,536 pesos per square meter. The total population in 2020 was 294,977 people, with 48.1% men and 51.9% women. The city experienced a 13.5% population growth over the past decade.
3. Puerto Morelos (Quintana Roo) and Cabo San Lucas (Baja California Sur): These destinations are among the most expensive places to live in terms of apartments. Most of the housing in these areas is dollarized. The average price per square meter is 62,616 pesos and 80,028 pesos, respectively. For houses, the prices are 21,861 pesos and 80,167 pesos per square meter in each destination. The decline in value in Puerto Morelos is due to the limited supply of this type of property and their age.
4. Holbox: Replacing the second spot on the list of most expensive destinations for houses is Holbox, with a price of 48,968 pesos per square meter.
Remember that these figures provide valuable insights into the real estate market along Mexico’s beautiful coastlines!
Source: Expansion
