Vertical Real Estate Investment is Booming in San Pedro Sula
One West Realty Grupo Inmobiliario – San Pedro Sula: Seven years ago, vertical residential and commercial buildings began to take off in the Industrial Capital and far from stagnating continue to grow to add strong national investments and foreigners.
Despite the pandemic, some commercial and mixed-use buildings were developed in 2020 (commercial and office), in 2021 the housing part grew with towers of a minimum of four levels, especially in the northwest and southwest quadrants.
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San Pedro Sula Condominiums
A housing project will be developed on an extensive seven-block piece of land in the Trejo neighborhood mixed made up with houses and condominiums called residencial Altezza. It is currently in the dirt stage to begin construction in the middle of this year with 45 townhouses, every two levels with three bedrooms. They estimate that next year they would start the first 15-level tower with about 60 condominiums in total. The local investment includes a social area with a swimming pool, children’s games, a multipurpose court, walk, rest areas in the open air.
At Campisa residential complex, new four-story apartment towers are being built, bringing a diverse construction to this elite neighborhood. In Los Álamos neighborhood, there is a new four-level apartment complex. At 10th street, 28th avenue southwest in the La Figueroa neighborhood there is a tower with 15 levels, 28 apartments, and 70 parking lots called Fleur de Lis. An imposing 17-level tower with luxury apartments is located in the Río de Piedras neighborhood and is called building 325. The architectural design has been conceptualized by the firm Seis Guatemalan architects.
Real Estate Construction in San Pedro Sula
In the La Amistad neighborhood and in the Mackay sector there are more new vertical projects of apartments. Data provided by the College of Civil Engineers of Honduras (CICH) in San Pedro Sula detail that in 2020 seven apartment-only projects were registered (the number of which is unknown).
housing units in each project) that account for an investment of L108.5 million. However, to this are added the two-family units that are two-level apartments, in
In 2020 there were 23 projects of this type with an investment of L59.7 million. In 2021, there were 55 apartment projects, in an area of 18,190 square meters and an investment of L174.4 million. Read more on Honduras Real Estate Investment at MB Daily News.
Cost of Land in San Pedro Sula
“It is the tendency to build vertically due to the cost of the land and due to the strategy that the mayor’s office had dictated about densification,” said José Avilez, secretary of the CICH Northwest Chapter. Avilez does not rule out that this year the growth trend will be higher because there is a demand for citizens who want to live in smaller spaces, but that have all the services and fine finishes. In SPS there is only one vertical project for the lower social class, the others are for the middle and upper-middle class. In the northwest and southwest is where there are more towers.