Real Estate in Riviera Maya, Mexico is a darling of foreign investors and tourists. It attracts no less than 70% of tourists and foreign investments coming into Mexico.
Tourism numbers are on the rise and demand is getting past supply. Today, according to the United Nations World Tourism Organization (UNWTO) Mexico is the 8th most popular vacation destination in the world, and Cancun and The Riviera Maya are the most popular tourism destinations in the country. So, buying property in this growing economical area has been very much proven to be a solid and smart investment strategy.
The region spans more than 80 miles along the turquoise waters of the Caribbean coast. Its weather is just fantastic most time of the year, and beside the award winning beaches, there are so many other attractions that you only can find them in together in Riviera Maya, such as several Archeological Sites from the ancient Maya culture, hundreds of Cenotes that are crystal clear water wells, part of a complex network of underground rivers where you can do some swimming, snorkelling or even diving to explore the underwater caves, of course you have the jungle, and below those amazing turquoise waters of the caribbean ocean, you’ll find amazing coral reefs.
To all that we add word-class shopping and dining, and many adventure activities supported by a very well developed tourism infrastructure.
Its location south of the Cancun International Airport offers easy access for millions of annual visitors around the globe. And we have to mention that a new airport it’s going to be built south of Tulum, making this region in Latin America one of best connected areas to the rest of the world.
Investing in real estate in the Riviera Maya it’s easy and quite affordable and it has benefits and advantages both for tourists and investors.
Real Estate in Riviera Maya
What are the benefits of investing in the Riviera Maya?
It is such a tourist destination, full of beauty, clear waters, an increase in the population in the past years reaching 15%, as the International Living’s blog said, and also a development of the infrastructure that has been important to make all the Riviera Maya a great place for your investments. Another of the main reasons to buy a property and invest in real estate in the Riviera Maya, whether it is for renting or having a vacation place, is that the Mexican Peso has dropped 15% in the past few years, just like Reuter’s said at its blog, making the ownership of a beautiful beach house even more possible than years before.
The low cost in the real estate market in the Riviera Maya makes a dream property have a price of $1.300.000 M.N, around US$65.000, investing an excellent deal, as Travel Laisure said in its blog. This place has economic growth of 4.5% per year, and it is getting better. Also with every year that goes, it has an increase in tourism. On average there is an 85% of tourist occupation per year, which is a number that indicates only good things. You can also find better options, you just have to investigate; there’s some pre-sale apartments in Thiara which are an excellent example.
Being a spectacular destination for all the people around the world, an investment here is a marvelous idea. The apartments in Riviera Maya come with several amenities, similar to resort amenities.
The World Tourism Organization (UNWTO) gave the Riviera Maya the well-known award of “The best of the best” in the matter of beach destinations. So this is pretty much one of the best places in the world to own a beach house, and that is for sure. You can find help to buy yours in real estate Proptech such as La Haus, whose investors are Jeff Bezos from Amazon and the singer Maluma.
Significant facts that makes it a piece of paradise
The pre-sale surplus-value is between 20% to 38%. When the sale is completed it has an incredible return on investment between 9% and 12% per year, according to the data in Aqua’s blog. The Riviera Maya has an average of capital gain in the entire area of 7% up to 11%, just like Tao Mexico said in its blog, far superior to the capital gain in other popular destinations such as Dubai, that has a 3% of capital gain, or Miami, that has a 3.8%. The residential complexes for vacation rentals are constantly growing, as well as their capital gains and annual return on investment. All this and much more make it a great deal to invest in Mexico.
A whole new airport is about to open in Tulum. The president said that in 2023 the country would have a luxury airport that obviously will add interest not only to the Riviera Maya, but also the entire country. This will be such a positive change to companies and businesses because of the access to this country. One of the things that are also coming is the new Formula 1 circuit; this is something that has a tremendous impact when it arrives at a city, increasing its value in manners that impulses the economy and even the whole culture. 500 hectares, 9 km long, and the space for a staggering 130,000 spectators, is what makes this place in Mexico a next-level destination.
The last Formula 1 race left over 14 billion pesos, said by the news in The Agency Riviera Maya’s blog, that went straight into the country’s economy. The construction of the new circuit project (expected to be completed in 2025) will come with two luxury 5-diamond hotels alongside a hippodrome that will host concerts and events. This project will directly give around 8.000 jobs to the residents, boosting the economy on all levels and making this place a great business center and investment destination, and also optimal for foreign direct investment.
All this means that if the economy is strong and the fluency of tourists is high, the real estate market will surely benefit, turning an investment in Mexico into a deal that cannot be missed.
Having your apartment in the Riviera Maya means so much more than just owning an apartment, it’s a guaranteed investment. If you keep investigating you’ll find so many good sales in apartments and you’ll be ready to make the most of short-term rentals in Riviera Maya.
What will come with the ownership of an apartment in the Riviera Maya?
The stunning apartments are just a few minutes away from the most fantastic beaches in the world. They are also pretty close to beautiful cenotes with crystalline waters and surrounded by shocking nature full of green and life.
Not only nature can be found in the Riviera Maya, but it is also known for its amazing antique constructions; after all it is called the Riviera Maya because of the Mayan culture, so pieces of Mexican history can be found here. As a matter of fact, it is not only Mexican history, it is also part of the firsts prehispanic civilizations, which turns it into a part of the history of the entire world.
Another main reason to invest in Mexico, especially in The Riviera Maya, is that it has the best nightlife in the country. There are clubs such as Naná Rooftop Bar, with a great atmosphere, good music and delicious drinks. Also you can go to Tulum Social Pubcrawl, an amazing gastronomical experience. There are a lot of activities, including a jacuzzi, partybus, and incredible games that will blow your mind, according to TripAdvisor.
According to Hotels, the food is not left behind in the Riviera Maya. One of the most famous places to have an unforgettable meal is El Fogón, a taqueria located almost in the outskirts of the Riviera, and it truly serves authentic and amazing Mexican food, like tacos. Hartwood is another good Riviera restaurant with delicious seafood. Of course, most people want to go there because the Riviera Maya is a beach destination.
An unbeatable deal
Being able to acquire a property in the Riviera Maya is not a thing you should think twice about if you have the capital to do so. With all the top projects that are coming plus the low costs, there is no doubt that an opportunity to invest in Mexico is a lifetime deal that cannot be missed.
If you decide to join all the investors worldwide that are taking advantage of buying a property there, you can find help in real estate agencies or platforms like La Haus to begin your investment in one of the top tourist destinations around the world.
TORONTO – The Toronto Regional Real Estate Board says home sales in October surged as buyers continued moving off the sidelines amid lower interest rates.
The board said 6,658 homes changed hands last month in the Greater Toronto Area, up 44.4 per cent compared with 4,611 in the same month last year. Sales were up 14 per cent from September on a seasonally adjusted basis.
The average selling price was up 1.1 per cent compared with a year earlier at $1,135,215. The composite benchmark price, meant to represent the typical home, was down 3.3 per cent year-over-year.
“While we are still early in the Bank of Canada’s rate cutting cycle, it definitely does appear that an increasing number of buyers moved off the sidelines and back into the marketplace in October,” said TRREB president Jennifer Pearce in a news release.
“The positive affordability picture brought about by lower borrowing costs and relatively flat home prices prompted this improvement in market activity.”
The Bank of Canada has slashed its key interest rate four times since June, including a half-percentage point cut on Oct. 23. The rate now stands at 3.75 per cent, down from the high of five per cent that deterred many would-be buyers from the housing market.
New listings last month totalled 15,328, up 4.3 per cent from a year earlier.
In the City of Toronto, there were 2,509 sales last month, a 37.6 per cent jump from October 2023. Throughout the rest of the GTA, home sales rose 48.9 per cent to 4,149.
The sales uptick is encouraging, said Cameron Forbes, general manager and broker for Re/Max Realtron Realty Inc., who added the figures for October were stronger than he anticipated.
“I thought they’d be up for sure, but not necessarily that much,” said Forbes.
“Obviously, the 50 basis points was certainly a great move in the right direction. I just thought it would take more to get things going.”
He said it shows confidence in the market is returning faster than expected, especially among existing homeowners looking for a new property.
“The average consumer who’s employed and may have been able to get some increases in their wages over the last little bit to make up some ground with inflation, I think they’re confident, so they’re looking in the market.
“The conditions are nice because you’ve got a little more time, you’ve got more choice, you’ve got fewer other buyers to compete against.”
All property types saw more sales in October compared with a year ago throughout the GTA.
Townhouses led the surge with 56.8 per cent more sales, followed by detached homes at 46.6 per cent and semi-detached homes at 44 per cent. There were 33.4 per cent more condos that changed hands year-over-year.
“Market conditions did tighten in October, but there is still a lot of inventory and therefore choice for homebuyers,” said TRREB chief market analyst Jason Mercer.
“This choice will keep home price growth moderate over the next few months. However, as inventory is absorbed and home construction continues to lag population growth, selling price growth will accelerate, likely as we move through the spring of 2025.”
This report by The Canadian Press was first published Nov. 6, 2024.
HALIFAX – A village of tiny homes is set to open next month in a Halifax suburb, the latest project by the provincial government to address homelessness.
Located in Lower Sackville, N.S., the tiny home community will house up to 34 people when the first 26 units open Nov. 4.
Another 35 people are scheduled to move in when construction on another 29 units should be complete in December, under a partnership between the province, the Halifax Regional Municipality, United Way Halifax, The Shaw Group and Dexter Construction.
The province invested $9.4 million to build the village and will contribute $935,000 annually for operating costs.
Residents have been chosen from a list of people experiencing homelessness maintained by the Affordable Housing Association of Nova Scotia.
They will pay rent that is tied to their income for a unit that is fully furnished with a private bathroom, shower and a kitchen equipped with a cooktop, small fridge and microwave.
The Atlantic Community Shelters Society will also provide support to residents, ranging from counselling and mental health supports to employment and educational services.
This report by The Canadian Press was first published Oct. 24, 2024.
Housing affordability is a key issue in the provincial election campaign in British Columbia, particularly in major centres.
Here are some statistics about housing in B.C. from the Canada Mortgage and Housing Corporation’s 2024 Rental Market Report, issued in January, and the B.C. Real Estate Association’s August 2024 report.
Average residential home price in B.C.: $938,500
Average price in greater Vancouver (2024 year to date): $1,304,438
Average price in greater Victoria (2024 year to date): $979,103
Average price in the Okanagan (2024 year to date): $748,015
Average two-bedroom purpose-built rental in Vancouver: $2,181
Average two-bedroom purpose-built rental in Victoria: $1,839
Average two-bedroom purpose-built rental in Canada: $1,359
Rental vacancy rate in Vancouver: 0.9 per cent
How much more do new renters in Vancouver pay compared with renters who have occupied their home for at least a year: 27 per cent
This report by The Canadian Press was first published Oct. 17, 2024.
