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As of September 2025, Mérida's residential real estate market shows strong price growth with apartments averaging 37,748 MXN per square meter and houses at 20,883 MXN per square meter. The city has experienced a 25% price increase over the past three years, making it one of Mexico's fastest-growing property markets while remaining more affordable than coastal destinations like Tulum or major cities like Mexico City.
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Mérida's property prices vary significantly by neighborhood and property type, with Centro Histórico commanding premium rates above 35,000 MXN/m² while emerging suburban areas offer opportunities below 20,000 MXN/m².
The market shows consistent growth with luxury properties reaching 80,000 MXN/m² and strong rental yields of 8-15% annually, positioning Mérida as an attractive investment destination.
| Property Type | Price per m² (MXN) | Market Segment |
|---|---|---|
| Apartments | 37,748 | Urban/Modern |
| Houses | 20,883 | Residential |
| Centro Histórico | 35,500+ | Premium Central |
| Luxury Properties | 45,000-80,000 | High-End |
| Land Plots | 5,100-20,000 | Development |
| Suburban Areas | 10,000-28,000 | Emerging |
| New Construction | 37,000-40,000 | Modern Development |
What is the average price per square meter right now in Mérida?
As of September 2025, apartments in Mérida average 37,748 MXN per square meter while houses cost 20,883 MXN per square meter.
The Centro Histórico commands premium prices at 35,500 MXN per square meter for colonial properties. Luxury properties reach around 45,000 MXN per square meter, with the most exclusive penthouses and estates exceeding 80,000 MXN per square meter.
Land plots start at 5,100 MXN per square meter in mid-tier locations, though basic lots in less developed areas can be found for as low as 400-600 MXN per square meter. One-bedroom apartments in the city center rent for 10,500-12,000 MXN monthly, indicating strong rental demand.
These prices represent a significant 25% increase over the past three years, reflecting Mérida's emergence as a major real estate destination. The market has stabilized from the rapid speculation of 2022-2023 but continues showing steady appreciation.
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How does the price per square meter vary between neighborhoods in Mérida?
Premium northern areas including Temozón Norte, Dzityá, and Yucatán Country Club command prices 15-20% above market average due to modern amenities and developed infrastructure.
Centro Histórico represents the most expensive central district, particularly for restored colonial properties exceeding 35,000 MXN per square meter. The area's UNESCO World Heritage status and cultural significance drive premium pricing for both residential and commercial properties.
Emerging neighborhoods like Conkal and Cholul offer competitive pricing with new detached homes averaging 6 million MXN for properties of 223-262 square meters. These areas benefit from proximity to the city center while maintaining suburban character and growth potential.
Affordable suburban areas present significantly lower prices, especially for undeveloped land, but show rapid appreciation where infrastructure improvements are occurring. Areas like La Floresta and Colonia México Norte offer mid-range housing at 20,000-28,000 MXN per square meter.
Developing neighborhoods on the city's periphery can offer prices as low as 10,000-15,000 MXN per square meter with substantial future growth expected.
What is the lowest and highest recorded price per square meter in the past year?
The lowest recorded prices for apartments occur in new fringe developments below 20,000 MXN per square meter, though these typically lack central amenities and established infrastructure.
For land purchases, basic lots in developing areas can be acquired for 400-600 MXN per square meter, representing the absolute floor of Mérida's real estate market. These require significant infrastructure investment but offer the highest potential returns.
At the premium end, luxury condos and penthouses in prime locations reach up to 80,000 MXN per square meter or more. These properties typically feature high-end finishes, security systems, and prime locations in Centro Histórico or northern developments.
The market has seen apartment prices increase from 30,211 MXN per square meter in 2022 to the current 37,748 MXN, representing a 25% rise over three years. This appreciation reflects both inflation and genuine demand growth from domestic and international buyers.
Houses show less extreme variation, with basic suburban properties starting around 15,000 MXN per square meter and luxury estates reaching 50,000-60,000 MXN per square meter depending on land size and architectural significance.
What is the typical price per square meter for apartments versus houses?
Apartments command a significant premium at 37,748 MXN per square meter compared to houses at 20,883 MXN per square meter, reflecting location advantages and modern amenities.
This price differential stems from apartments' concentration in central areas with walkable access to restaurants, cultural sites, and business districts. Most apartment developments feature modern construction with air conditioning, security systems, and maintenance services.
Houses offer more space and privacy but typically require longer commutes to central areas. The lower per-square-meter cost reflects larger lot sizes where land value is distributed across more space, including gardens and parking areas.
New apartment buildings in premium areas often exceed 40,000 MXN per square meter, while equivalent houses in similar neighborhoods may cost 25,000-30,000 MXN per square meter due to land allocation differences.
Investment yields also differ, with apartments generating higher rental returns per square meter due to location premiums and tourist rental potential.
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What is the average price per square meter for newly built properties compared to older ones?
New construction properties experienced 15.6% price growth last year and typically cost at or above 37,000-40,000 MXN per square meter, reflecting modern building standards and amenities.
Existing properties showed slightly lower appreciation at 14.6% annually, generally pricing below new builds per square meter due to older infrastructure and potential renovation needs. However, colonial properties in Centro Histórico can command premium prices despite age due to architectural significance.
New developments offer energy-efficient systems, modern plumbing, fiber internet infrastructure, and earthquake-resistant construction that older properties may lack. These features justify the premium pricing for buyers seeking move-in ready homes.
Older properties often provide renovation opportunities, with buyers purchasing below new construction prices then investing in updates. Well-maintained colonial homes can achieve prices comparable to new construction after restoration.
The gap between new and existing property values continues widening as construction costs rise and buyers increasingly value modern amenities and energy efficiency.
How does the price per square meter change between city center and suburban areas?
City center properties, particularly in Centro Histórico, command 35,000+ MXN per square meter due to walkability, cultural attractions, and tourism income potential.
| Area Type | Price Range (MXN/m²) | Key Features |
|---|---|---|
| Centro Histórico | 35,000-50,000 | Colonial architecture, UNESCO heritage |
| Central Districts | 30,000-40,000 | Urban amenities, commercial access |
| Inner Suburbs | 20,000-28,000 | Residential neighborhoods, good infrastructure |
| Outer Suburbs | 15,000-25,000 | Newer developments, family-oriented |
| Emerging Areas | 10,000-20,000 | Development potential, lower services |
| Rural/Undeveloped | 5,000-15,000 | Land speculation, minimal infrastructure |
What has been the year-over-year percentage change in price per square meter over the last five years?
Mérida's residential market has experienced remarkable growth, with prices increasing from 30,211 MXN per square meter in 2022 to 37,748 MXN in 2025, representing a 25% total increase over three years.
This translates to an average annual appreciation of 7-9%, though growth was front-loaded during the pandemic and infrastructure boom periods. Last year alone saw 15% average price increases across all property types.
New construction led appreciation at 15.6% annually, while existing homes increased 14.6% year-over-year. This consistent growth reflects sustained demand from both domestic migration and international investment.
The growth pattern shows acceleration from 2022-2024 during major infrastructure projects like Tren Maya development, followed by moderation as speculative pressure decreased. Market fundamentals now support more sustainable 10% annual growth through 2027.
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What is the price per square meter for land plots compared to finished residential properties?
Land parcels start at 5,100 MXN per square meter in mid-tier locations, significantly lower than finished properties at 20,883-37,748 MXN per square meter, but require substantial construction investment.
Prime location land can reach 20,000+ MXN per square meter, while basic lots in less developed areas cost 400-600 MXN per square meter. These prices exclude construction costs, which typically add 8,000-15,000 MXN per square meter for standard residential building.
Finished homes and apartments include all infrastructure, utilities, and livable space, justifying the significant premium over raw land. The total investment in land plus construction often equals or exceeds finished property prices when factoring in time and project management.
Land purchases offer maximum customization and potential appreciation but require navigating permitting, utility connections, and construction management. Many international buyers prefer finished properties to avoid these complexities.
Development timing affects returns significantly, with land in areas anticipating infrastructure improvements offering the highest appreciation potential over 3-5 year holding periods.
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How do prices per square meter differ between luxury properties and mid-range properties?
Luxury properties typically start at 45,000 MXN per square meter and can reach 80,000 MXN per square meter for the most exclusive penthouses and estates in premium locations.
Mid-range properties cost 20,000-30,000 MXN per square meter, depending on age, amenities, and location. These represent the bulk of Mérida's residential market, offering modern conveniences without luxury finishes.
The price differential reflects premium features like imported materials, high-end appliances, private pools, extensive landscaping, and prime locations in gated communities or historic districts. Luxury properties often include concierge services and enhanced security systems.
Large luxury estates or penthouses in Centro Histórico command the highest rates per square meter due to architectural significance and limited availability. These properties often feature restored colonial elements combined with modern systems.
Mid-range properties provide excellent value for owner-occupants and investors, offering appreciation potential without the premium associated with ultra-luxury features that may not generate proportional rental returns.
What is the price per square meter in rental properties versus sale properties?
Sale prices range from 20,883-37,748 MXN per square meter depending on property type, while rental properties generate monthly rates of 180-350 MXN per square meter in well-located apartments and condos.
One-bedroom apartments in Centro command 10,500-12,000 MXN monthly rent, delivering annual yields of 8-15% - exceptionally high for Latin American markets. This strong rental performance supports purchase price appreciation.
Rental rates per square meter vary significantly by location and property type, with tourist-oriented properties in Centro Histórico achieving premium monthly rates through short-term rental platforms.
The rental market benefits from growing tourism, digital nomad influx, and domestic migration to Mérida. Properties near universities, business districts, and cultural attractions command the highest per-square-meter rental rates.
Investment properties purchased at current market prices typically achieve positive cash flow from rental income, unusual in appreciating markets and indicating strong underlying demand fundamentals.
How does Mérida's price per square meter compare to other cities in Yucatán or Mexico overall?
Mérida's apartment prices at 37,748 MXN per square meter remain significantly below Tulum's 57,500 MXN per square meter, reflecting the coastal premium and tourism concentration in Riviera Maya markets.
Compared to Mexico City's average home price of 3.85 million MXN, Mérida offers comparable values but with superior quality of life, safety scores, and lower population density. Mexico City's per-square-meter costs often exceed Mérida's due to land scarcity.
Within Yucatán state, Mérida commands premium pricing as the capital and economic center, with smaller cities like Valladolid and Progreso offering 30-50% lower per-square-meter costs but fewer amenities and investment liquidity.
Mérida now competes with inland cultural destinations like San Miguel de Allende and Oaxaca for international buyer attention, offering similar pricing but better infrastructure and proximity to beaches.
Beach destinations like Playa del Carmen and Puerto Vallarta typically cost 40-80% more per square meter than Mérida, while interior cities like Guadalajara and Monterrey show comparable pricing with different economic drivers.
What are the projected trends for price per square meter in Mérida over the next three years?
Market analysts project growth moderation to 10% annually through 2027, down from the 14-15% rates experienced during the pandemic and infrastructure boom periods.
Continued foreign investment and major infrastructure projects including Tren Maya completion and airport expansion will support demand and appreciation, though rapid speculative increases are expected to slow as the market stabilizes.
New supply from major developments may moderate apartment price growth while suburban house prices could continue stronger appreciation as inventory remains limited. Land values in emerging areas may see the highest percentage gains.
Tourism recovery and digital nomad trends support rental demand, maintaining investment property attractiveness and underlying price support. The growing expatriate community provides sustained demand for mid-range to luxury properties.
Infrastructure completion and economic diversification beyond tourism should provide sustainable long-term appreciation, with projected 10% annual growth representing healthy market maturation rather than speculative excess.
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Conclusion
This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.
Mérida's real estate market presents compelling opportunities with apartment prices at 37,748 MXN per square meter and strong rental yields of 8-15% annually.
The market shows sustainable growth patterns with projected 10% annual appreciation through 2027, supported by infrastructure development and growing international interest.
Sources
- The LatinVestor - Mérida Price Forecasts
- The LatinVestor - Mérida Property Market
- Properstar - Mérida House Prices
- Expatistan - Cost of Living Mérida
- Yucatan Magazine - Mérida Affordability Study
- Global Property Guide - Mexico Price History
- Global Property Guide - Mexico Rental Yields
- Yucatan Magazine - Mérida Housing Boom