Right now is an ideal time to buy real estate on Mexico’s Riviera Maya,which stretches south from Cancun for 80 miles along the Caribbean coast of Mexico all the way to Tulum. In fact,as tourism occupancy rates continue to rise in Tulum and throughout Mexico’s famed Riviera Maya,developers are moving in to take advantage of the boom and to supply enough rooms to meet the growing demand.
“Tulum is on the cusp of big things as a tourism destination,” writes International Living magazine in its June 2015 issue. “Buying a condo and renting it out as a vacation rental can yield very nice returns.”
This represents a fantastic opportunity for individual buyers and larger investors alike,as rentals provide a great way to cover the carrying costs of property ownership and generate a profit. For a fee,experienced property managers will even take care of your unit,overseeing maintenance,marketing it to vacationers and checking guests in and out.
“Visitor numbers are increasing as Tulum gets on the radar of more people,especially those seeking an alternative to the better known – and more crowded – spots farther north,” writes International Living magazine. “Therein lies the opportunity to profit.”
In addition,it’s important to note that development around Tulum is actually quite restricted because of its location right next to the 1.3 million-acre Sian Ka’an Biosphere Reserve,which is a UNESCO World Heritage Site that is also protected by Mexico’s federal government. As a result,land in Tulum is already at a premium and demand is steadily inching skyward for vacation rentals – especially for condos – because the supply is low.
“There just aren’t enough places to put all these new visitors,” writes International Living magazine. “You could rent out your place for a week and cover a month’s carrying costs.”
In fact,property owners have the option to rent their condos and villas for at least 30 or 40 weeks of the year,thanks to the year-round influx of visitors to the Riviera Maya,which offers warm tropical weather in every season.
“In one development in Aldea Zama,the “new” downtown nearer the beach,current owners are making up to $28,000 a year with their two-bedroom condos,” International Living reveals. The latest project in Aldea Zama,Villas Las Palmas Tulum,just broke ground last week and is offering a fantastic rental program.
But the opportunities aren’t just for individual buyers – there are still plenty of options that are geared toward larger developers,including luxury hotels,which are currently popping up throughout Tulum to meet the rising demand from tourists. Most recently,the Bahia Principe Tulum Hotel & Resort has announced there are 160 new rooms under construction as part of a major expansion,which will offer an all-inclusive option for the affluent sector in addition to Punta Jade.
“Currently this resort is operating four hotels totaling 3,045 rooms,” Claudio Mendez Cortes,who is the coordinator for CROC in Tulum told the Riviera Maya News.
This expansion is in addition to the pending opening of the nearby Secrets Akumal resort,which will reportedly have more than 300 rooms and will generate up to 500 direct jobs and approximately 200 new indirect tourism-related jobs.