Mérida, Yucatán has become notorious for its numerous real estate scams and land fraud cases. One such high-profile case involves Grupo Inverco in Pedregales de Misnebalam, where hundreds of affected clients have accused the company of massive cheating.
According to Cristian Canto Villanueva, director general of Uno Consulting, the city’s location made it an attractive destination for investors and developers seeking a “paradise” away from crime and insecurity. However, many of these lands lack urbanization and services, making them worthless. Canto warned that these transactions could be a form of fraud.
The price of land in Yucatán has increased by 100% over the last decade due to high demand. This boom began with local middle-class buyers, but soon attracted interest from other regions and even international investors. The lack of regulations controlling expansion made it an attractive market for speculators.
In June 2023, José Alonso Iracheta Carrol, president of the Instituto Nacional de Suelo Sustentable (National Institute for Sustainable Land), called Yucatán “the capital of unfair real estate deals” due to its high rate of scams and land fraud. He urged authorities to take immediate action to stop, combat, and punish the crime.
Iván Cervera López, vice-president of the Asociación Mexicana de Profesionales Inmobiliarios (Mexican Association of Real Estate Professionals), also denounced the rapid growth of fake lot sales and “investment lots” with minimal or no public services. He emphasized that lack of experience and professionalism led to poor construction quality, delayed delivery times, and inadequate after-sales service.
The Comisión de Vivienda de la Cámara Baja (Lower Chamber Housing Commission) held a forum in Mérida to discuss the issue. The commission’s president, Lilia Aguilar Gil, described it as “pure speculation” and emphasized that it was a crime that needed to be tackled.
Fernando Alcocer Ávila, former president of the Colegio Yucateco de Arquitectos (Yucatán College of Architects), called for the revision and update of the Ley Estatal de Desarrollo Inmobiliario (State Law on Real Estate Development). He stated that corrupt officials and private individuals were taking advantage of loopholes in the law.
The modus operandi of these lot sellers involves demanding payment from buyers, threatening to cancel contracts if they do not comply, and then delaying or even refusing to deliver the properties. This has left many victims in Pedregales de Misnebalam without their investments.
Overall, Yucatán’s real estate market is plagued by corruption, speculation, and a lack of regulation, making it a haven for scammers and land thieves. Authorities must take immediate action to stop these unfair practices and protect the rights of buyers and investors.
Source: Por Esto
