Merida Real Estate

Prices from $62,000 USD to $13,000,000,000 USD Listings last updated 11/18/2018

Homes for Sale in Merida

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Overview of the real estate prices in Merida, Yucatan, Mexico

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Here are the 20 most popular locations from Mexico for foreign homebuyers:

La Paz , Rocky Point, Puerto Vallarta, Lake Chapala, Valle de Bravo, Campeche, Merida, Cancun, Playa del Carmen, Cozumel, Akumal, Tulum, Costa Maya

CITY GUIDE
MERIDA, MEXICO

Located in the northern part of the Yucatan Peninsula, Merida, Mexico is the capital of the state of Yucatan. At 331 square miles, Merida is the largest city in Yucatan and boasts a population of approximately 970,000.

Merida is considered the cultural capital of the Yucatan. Tourism is a major economic force but plants and factories are being constructed and finance continues to play a major role in its burgeoning development. Major colleges in Merida includethe Autonomous University of Yucatan, the Instituto Tecnológico de Mérida (Merida Institute of Technology) and the Escuela Superior de Artes de Yucatán (The School of Arts of the Yucatan).

Culture and history are quite different in Merida than in the rest of Mexico. Because of its distance from other major Mexican cities and the lack of development in the Yucatan Peninsula until recently, everything from the food to traditions maintain stronger Mayan influences and have not been as assimilated to European cultures as other parts of the country have. There are many colonial buildings, though, and the Mayan culture still plays a pivotal role in daily life. Merida is quite modern with state-of-the-art museums, galleries, restaurants and stores. Paseo de Montejo is a street lined with different original sculptures for ten months before being switched out.

Merida has a strong Hispanic and Mayan influence. Historic sites are all over Merida including the Templo de San Juan de Dios dating back to 1562. Merida receives its name from the Spanish town of the same name. Regardless of the influences of Europeans, the Mayan culture has continued to thrive.

You’ll find the Casa de Montejo dating back to the 16th century, Gran Museodel Mundo Maya as well as Mejorada Park home to quite possibly the best Spanish restaurant in Merida.

Merida is situated within the Chicxulub Crater which means the topography is very flat and there is almost no water to be found on the surface. The city experiences both a tropical wet climate and a dry climate. During the coldest times of the year, between November and February, temperatures average in the upper-80’s. In the middle of summer, daytime temperatures usually are between 95-97 degrees. The rainy season in Merida runs from June through October during which 75% of the annual rainfall occurs.

Real estate and rentals are still quite affordable although prices have increased over the last couple of decades. Compared to nearby resort cities like Cancun and Playa Del Carmen, Merida still remains affordable. Although new construction is happening, the most affordable homes are the older colonials.

Merida is a beautiful tourist-type town filled with great museums and rich colonial and Mayan history. Residents enjoy some tasty cuisines and the folks are very welcoming. Although temperatures soar near triple digits many months of the year, residents always have a lot of reasons to love Merida from art galleries and festivals to theater and more.

KEY FACTS:

Merida, Mexico

Merida, Mexico
  • Country: Mexico

  • State: Yucatan

  • Nickname: The White City

  • Population: 970,000

  • Area:

    Land: 858.41 km2

    Metropolitan: 1,165.25 km2

Lifestyle

Lifestyle and Culture

As the cultural capital of the Yucatan Peninsula and a city known for its strong Mayan culture, Merida offers a lot of options for history, arts, museums and the theater. Some of the most popular museums include: the Gran Museo del Mundo Maya which contains 1,100 artifacts celebrating Maya culture, the Museo Regional de Antropología at the Palacio Canton Houses and the Museo de Arte Popular de Yucatán. Merida hosts an annual celebration called HanalPixan which is a Mayan version of the Dia de losMuertos. A celebration of those who have passed away, HanalPixan is Mayan for Food for the Souls.Houses are cleaned and lots of food is prepared during this time for the anticipated arrival of the dearly departed. Merida has consistently been known to have the best public schools in Mexico. This distinction dates back to the mid-1990’s. Home to more than a dozen higher education schools and universities, some of the more notable colleges include Universidad Autónoma de Yucatán, Universidad TecnológicaMetropolitana and Universidad Nacional Autónoma de México, also known as UNAM.

Lifestyle

Entertainment and Tourism

The Olimpo Cultural Center is a celebration of art in Merida. Its space is dedicated to promoting various kinds of art including film, concerts and art exhibits. Its planetarium is frequently used for conferences and presentations. Merida is also home to the Yucatan Symphony Orchestra which performs at the 700-seat José Peón Contreras Theater. Merida has a great nightlife with countless bars for all tastes. Spots like La Parranda is an outdoor establishment which is often busy regardless of the night of the week, while a place like Mambocafé, located in Plaza Las Américas, is where you will see an older crowd showing off their salsa-dancing skills. Merida has a handful of minor league sports teams including an AAA minor league baseball team (the Leones de Yucatán) and two football clubs (F.C. Itzaes and Merida F.C.)

Entertainment and Tourism
Neighbourhoods

Districts & Neighborhoods

Merida is split into 12 districts and a total of 36 sub-districts within the original dozen. Each hasits own charm and many of the colonias, as neighborhoods are called, are centered around a church.Just a small sampling of these districts include:

Plaza Grande

Plaza Grande is considered the center of the center of the city. It does not get more centrally located than here where residents and tourists find Catedral San Idelfonso, the Governor's Palace and City Hall, Casa Montejo, the MACAY museum and the Olimpo.


Santiago

Considered one of the oldest colonias of Merida, Santiago has a lot of history dating back nearly 400 years. Many Americans and Canadians reside here and have renovated the colonial-style homes. There are plenty of stores and activities to be found in Santiago making it a very desirable neighborhood located near downtown.

Neighbourhoods

Santa Ana

With a thriving art district situated near Parque Santa Ana, this neighborhood attracts a lot of visitors including tourists and expats. Tourist shops, restaurants and the Old Archaeological Museum are just a few reasons folks visit this area. A church still in existence dates back to the 1500’s.

Aleman

One of the first housing developments in Merida, this colonia is famous for having the only sewer system in all of the colonias. Plots of land were considered small and recently those interested in building homes bought up 2-3 plots at a time. Aleman is considered an upper-middle class neighborhood.

Real Estate Market

There are several real estate development projects occurring in Merida. Via Montejo includes seven towers of apartments that will start from $140,000. Other construction projects include the La Isla Merida Mall. Housing options are very affordable compared to other resort communities in the Yucatan Peninsula. Rent in Cancun is 25% higher than in Merida and, compared to US cities like Dallas, rent is over 80% lower.

Rental properties generally go to those seeking temporary housing. Marketing efforts are geared more toward those tourists and foreigners eager to spend months away from the long winters and not permanent residents.

New construction is big in Merida but there are still many folks eager to live in the old colonial homes and refurbish them to appear as they once had.

Plants are being built to accommodate economic growth. While many facilities are Mexican-owned companies, there are also international corporations eyeing Merida for business including the Korea Gas Corporation. Economic growth will help spur construction, which increases demand.

Everyone from expatriates to retirees to wealthy Mexicans looking to move away from Mexico City are purchasing a wide range of property types from land parcels and colonial ruins for restoration to mansions and suburban homes.



  • Price per Square Meter to Buy Apartment in City Centre: $501.32
  • Price per Square Meter to Buy Apartment Outside of Centre: $377.56
Home Style Average Rent Price
1-bedroom apartment in City Centre $203.78
1-bedroom apartment Outside of Centre $184.91
3-bedroom apartment in City Centre $353.11
3-bedroom apartment Outside of Centre $364.15

Source: www.numbeo.com (March 2017)

Education

Education

Merida is home to the Universidad Autónoma de Yucatán(the Autonomous University of Yucatan). This public university has a student population exceeding 17,000 and is an autonomous public university with roots dating back to the 1600’s by a Spanish decree. The modern version was created in 1922. Other notable schools include the Merida Institute of Technology and the Anahuac Mayab University which is a private school educating 3,100 students with degrees in business, communications, health services and more. The literacy rate for students in Yucatan is approximately 96%. The public school system in Merida and all of Mexico is overseen by the Secretariat of Public Instruction (SEP). There are many options for English-speaking students who are transitioning but these options are private schools.

Education