PROPERTY FOR sale in the Flamingo Lakes golf and country club resort in Dzemul, Yucatan, Mexico ranges from building plots to fully completed condos, houses and villas.
American and Canadian bank mortgages of up 60 per cent LTV are available at around 7 per cent, depending on personal circumstances. With construction just begun, promoters believe "price is the edge".
There are discount packages for plot owners to build. For example, a plot for a three/four-bedroom, four-bathroom, two-garage, one pool will cost $80,000 (€54,573) for the plot; the build cost is $254,000 (€173,257). Add service/other charges, and the total is $350,000 (€239,000). There is also a fractional ownership scheme available.
Flamingo Lakes resort is on the opposite side of the Yucatan Peninsula from Cancun, on the Gulf of Mexico. It has a year-round warm climate, but is subject to hurricanes from June to December - which these days affect the price of oil more than real estate. The deep sea port of Progresso is about a 30-minute drive, Merida city about 40 minutes.
• How to get there:Delta flies from Dublin to Atlanta, Georgia (a nine-hour flight), then it's a two-hour flight to Cancun. There are also daily flights from London to Mexico city, with various airlines and internal flights to Merida.
