“When it comes to vacation property and sensational real estate of all kinds close to the beach,Mexico remains the best choice for international investors,” shared Richard Houghton of Investment Properties Mexico. “This is especially true for the Riviera Maya,along Mexico’s only Caribbean coast.”
The entire region – which stretches from Cancun in the north to Tulum about two hours south – is almost always blessed with perfect weather and is home to some of the most pristine white-sand beaches in the world. In the Riviera Maya,there is also an abundance of fine shops,gourmet and local restaurants,modern infrastructure and every amenity you could imagine – and then some – right at your fingertips.
“The 130-kilometer-long strip of Gulf coastline known as the Riviera Maya has become a magnet for investment,” writes The Globe and Mail. “With new housing developments breaking ground year after year,Playa del Carmen and Tulum are currently the fastest growing towns in Latin America.”
Of course,the local housing prices are starting to reflect the region’s growing popularity,with growth trending steadily upward in the region compared to many if the other real estate markets in Mexico. This is great news for investors who are buying up property in the Riviera Maya,which has been experiencing a minimum of nine to ten percent annual appreciation of property values; a number that can easily double in certain areas on the beach overlooking the Caribbean Sea.
Mexico’s Riviera Maya even weathered the mortgage meltdown that happened in the United States a few years ago really well. While the rate of growth slowed a bit,nothing went down. Since then,the rate of development has grown exponentially and demand for real estate in this corner of Mexico is higher than ever before. Also,the Mexico real estate market is largely cash-driven,which protects it from certain types of market devastation,such as predatory lending and inflated property valuations.
“Major developers,meanwhile,continue to spend billions on new projects,” writes The Globe and Mail. “DreamWorks recently announced an $800-million investment in a theme park in Punta Maroma,while Mexican developer Grupo Vidanta plans to spend another $1.3 billion on commercial and residential projects near the new Cirque du Soleil theatre it has already financed in the Riviera Maya.”
Individual buyers and smaller investors often purchase a property and then rent it out whenever they are not in town. This group includes retired seniors,along with pre-retirees who are eager to realize the benefits of owning real estate in Mexico. Many of the buyers are from the United States and Canada,but there has also been an uptick in clientele from South America and Europe who are interested in Mexico real estate.
“Prices run the gamut from one-bedroom condos for about $80,000 to multi-million-dollar villas with sea views,swimming pools and ample lots,” writes The Globe and Mail. “Because they offer the convenience of year-round maintenance and management,gated communities and condominium projects are very popular.”