Located on Mexico’s famed Yucatan Peninsula overlooking the nation’s only Caribbean Coast,the Riviera Maya region is home to some of the world’s most stunning and surprisingly affordable beachfront real estate. Stretching for 80 miles south from Cancun to Tulum,the Riviera Maya is also home to Playa del Carmen,Puerto Morelos,Puerto Aventuras and the island of Cozumel.
“By 2018,Cancun alone is expected to have broken ground on nearly $100 million worth of new development projects,and if you add in the adjacent Riviera Maya,that number reaches well into the billions,” shared Richard Houghton of Investment Properties Mexico. “The growing number of both residential and commercial real estate developments have placed the Riviera Maya among the top locations for investments in the entire country.”
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According to the Association of Real Estate Developers (ADI),real estate in Mexico is still going strong,and Cancun has been a magnet for new real estate projects since it became a planned vacation destination in the 1970s. Recent development projects are centered mainly on the building of new tourism offerings,industrial parks,residential office space and shopping centers,and a number of them are either already underway or preparing to break ground.
According to data released this spring by the Ministry of Finance and Public Credit (SCHP),around 127 projects around the country began construction in late 2014,including a number of new shopping centers,offices and homes. In the Riviera Maya,new developments like Villas Las Palmas in Tulum’s Aldea Zamá community,as well as Villas Laguna in Puerto Aventuras,are bringing a whole new level of affordable,modern luxury and a “no worries,no hassles” style of ownership.
“Villas Las Palmas is the first truly luxury condominium development in Tulum and the first development to be designed to provide buyers with the option to collect a fantastic rental income,” shared Richard Houghton of Investment Properties Mexico. “Villas Laguna offers the best value and luxury in Puerto Aventuras,including penthouses with large rooftop pools and ground floor units with private swim-up bars. All of our projects feature top quality finishes and high-end appliances.”
Finally,it’s important to note that Mexico’s Riviera Maya is home to a large (and growing!) community of expats. Although Americans still make up the largest percentage of buyers,followed closely by Canadians,an ever-increasing number of Europeans have also been snapping up real estate deals in the Mexican Caribbean,including buyers from Russia,France,Italy and Germany.