AMPI warns of fraudulent developments in the Yucatan

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“The business has grown so much that in fiction there are cities of lots sold in the jungle where
there are no services. There are not even streets in good condition”, exposes the head of the AMPI

The so-called investment lots in Yucatan that are offered on the Internet and social networks are the doors for multiple real estate scams, warn local and federal authorities. These lands, in addition, encourage speculation in housing and the destruction of the ecosystem.

Most publications of investment lots in Yucatan follow a similar pattern. A real estate company announces the sale of these spaces as an investment opportunity and assures that the value of the land will increase in a few years.

Terrenos en Celestún - Inmuebles24
Celestun

Among the attractions that are listed to promote the lots is that Yucatan is one of the safest entities in the country, the proximity to the Mexican Caribbean, and the investments that will come with the launch of the Mayan Train.

Investment lots in Yucatan are a potential fraud 2
The batch publications in Yucatan are aimed at working people from entities such as CDMX or Edomex. Photo: Facebook.

However, real estate entities, such as Infonavit and the Board of Directors of the Mexican Association of Real Estate Professionals (AMPI) Mérida Chapter, alert potential buyers that many of these lands lack legal certainty and are not contemplated in future development plans.

At the beginning of March 2022, Rogerio Castro Vásquez, General Director of Infonavit, declared to the media that the investment lots in Yucatán are potential frauds and that work is being done to implement measures that help prevent workers from falling into them.

Terrenos en Celestún - Inmuebles24
Celestun Beach lots

Despite the warnings, the companies that sell these lands maintain their pace of work, since most operate outside the state.

If they offer you investment lots in Yucatan at low prices, be suspicious and do not give your money without investigating

The companies and accounts on social networks that sell investment lots in Yucatan direct their business to people from entities such as Mexico City, the State of Mexico, Jalisco, Puebla, Monterrey or Guanajuato. That is potential buyers with the economic capacity to acquire debt and are geographically distant from the land.

LOTES DE INVERSIÓN GRAN MARBELLA

Sellers present themselves as real estate consultants. Some of the spaces they offer are alleged lots of up to 400 m2 at prices around 70 thousand 120 thousand pesosThe cost varies according to the closest beach to the location of the property.

They explain that the subdivision is a potential area for urban development and that, for now, it is not possible to visit them physically. They give their word that they are endorsed by the municipal authorities and show a series of photographs and documents to convince potential buyers.

In addition, they offer credit facilities to be paid in approximately four years.

Investment lots in Yucatan are a potential fraud 3
Many of the lots are being offered in four-year financings. SISAL YUCATAN

Sellers convince people that investment lots in Yucatan are more profitable than buying a property in their city. They point out that once real estate developments begin, your land will rise in value and you will be able to sell it at prices well above the original cost or rent it out and make a steady profit.

Given this, the Mérida Sustainable Mobility Observatory warns that many of these lands are not in optimal areas for urban development,  in some, there are not even conditions to install electricity, telephone, drainage, or water services in the short or medium term. .

Telchac, Yucatán. Proyección de crecimiento y opciones de inversión -  YouTube

Some of the lots for sale are very close to protected jungle areas, so municipal development laws prevent any urbanization project from being carried out.

Alfonso Galindo, Real Estate Broker/Owner - ActiveRain
Lic Alfonso Galindo Mexico Real Estate Expert

Lic Alfonso Galindo for The Yucatan Post has warned of massive real estate fraud in the Yucatan since 2020

Source: datanoticias.com, poresto.net

Mexico Daily Post