When thinking of Mexico many things come to mind… beautiful beaches,white sand,crystal clear blue water,margaritas… okay,well, you get the picture,but many of us do not think of Mexico as an investment hot spot. With just a little education,the average investor can break free from their conventional investments and diversify their portfolio to aim their efforts at one of the fastest growing areas in the world.
The Guinness World Book of World Records named Playa Del Carmen, Mexico the “fastest growing city in the entire world” in 2006. Playa del Carmen is located just 30 minutes south of the popular tourist destination,Cancun. With the entire Rivera Maya real estate only at its infant stages,worldly inventors have aimed their eyes at the proliferation and growth of the area. Within an 80-mile stretch,you have three towns that have or are in the process of turning into flourishing cities; Playa del Carmen,Puerto Morelos,and Tulum. “Playa” as it is known,is a small fishing village,which over the past ten years,has blossomed into a city of nearly 300,000 people from over 47 different countries.
Puerto Morelos had a population of 1,100 people in 2005. In 2010, the town reached close to 10,000 people and now the population is nearly 11,000. Puerto Morelos has a great future ahead of itself. The Chinese government has recently invested 1.5 Billion dollars in a drastic projected called Dragon Mart. Dragon Mart is a large commercial consumer retail outlet that will not only provide over 3,000 jobs (1/4th of the current population of the city),but will bring enormous exposure to the area by saving North American buyers a long trip to the other side of the world. The only other Dragon Mart is currently in Dubai.
Finally,we have the backpacker destination of Tulum. If you have not heard of Tulum don’t feel left out,as the majority of us have not. If you have never been,I can say you are certainly missing out. Tulum has some of the best beaches in the entire world,with white talcum powered sand that does not get hot and waters with seven shades of blue. Conde Naste Traveler Magazine,the New York Times,and the Wall Street Journal heavily praise Tulum; the secret is out!
This once tranquil town has become a must for large development companies and investors alike. Aside from the beauty that is Tulum real estate,we have seen a greater growth rate here than in Playa del Carmen,as it was named the fastest growing city in Latin America last year. The WSJ has reported that Tulum is in the top three of the World’s Top Retirement Havens. This raises some eyebrows when you see the numbers and that over 7,000 people turn over the age of 65 years-old each day around the world.
There was a recorded 3.5 Million new visitors to Tulum last year and the growth has not gone unnoticed,as both the State and Federal Government has kept a close eye on the infrastructure of the town making sure it will be able to sustain its escalation. Everything from sidewalks,bike paths,roads,bypasses,intersections,commercial and residential housing,is being closely monitored. Tulum’s Director of Economic Development,Señor Carlo Jasso,indicates that the government is in communication with many large banking institutions to open more banks.
I forgot,there is one more thing… The new International Airport is scheduled to begin being built in 2014,which will ultimately bring so many new people to the area,each of whom will be needing a place to stay,work or live.
With 70% of Mexico’s tourism dollar being recorded right here in the Riviera Maya real estate,we have seen not only the Spanish making grandeur efforts to make their mark here but also the Canadian market has set it’s eyes on taking the reins away from the US, who is our number one supporter. If you are looking for the next Investor hot spot,you don’t have to look much further. Buying a property in the Riviera Maya is no longer a secret; it just makes “cents!”