New Rules Reshape Quintana Roo Real Estate Market

Cancún, Quintana Roo — Regulation of property appraisals has compelled the real estate market in Quintana Roo to reorganize, a measure that enhances fiscal transparency, reduces fraud risks, and provides the state with reliable statistics on urban development, according to Guillermo Hernández Rendón, president of the Quintana Roo College of Valuers.

Hernández Rendón noted that lower-value homes face minimal impact, as the appraisal process does not generate significant additional costs for beneficiaries. However, residential projects and large-scale developments valued above 800,000 pesos must now pay fees to Mexico’s Tax Administration Service (SAT), as they are the primary subjects of tax scrutiny.

“This is an excellent way to regulate the real estate sector because the state can now accurately track transactions. It not only aids in tax collection but also in infrastructure and public service planning,” he explained.

The regulation took effect in August of last year. While it initially caused uncertainty and delays in presales and property registrations, the market has begun stabilizing. During the first months, transactions dropped by as much as 50%, primarily due to confusion among developers, notaries, and real estate agencies about complying with the new fiscal procedures.

Over time, the learning curve has been overcome, and transactions now show only a 10% decline. Industry players have adapted to the process, and the SAT has streamlined its procedures.

Regarding price trends, experts emphasized that property values rarely depreciate unless due to physical deterioration. Instead, prices tend to rise due to increasing material costs and developers’ pursuit of profitability. This trend is evident in gentrified areas of Cancún, such as Donceles 28 and Lombardo Toledano, where demand surges and proximity to universities and public services have driven up prices.

Hernández Rendón reiterated that the regulation promotes fiscal transparency, enables better urban planning decisions, and ensures a more orderly and secure real estate market for buyers.