18 March, 2023
The real estate industry in the Riviera Maya has benefited largely every year from the federal investments made to the destination.
The cash flow projected for the region have helped improve infrastructure, has propelled service installations, and developed new businesses.
As part of the efforts to improve Quintana Roo, the governor of the state, Carlos Joaquin, presented the State Development Plan for 2016 to 2022.
This is updated annually and introduces the initiatives planned for the upcoming years that have, as a final goal, to improve the general capital gain of the state.
One of the most important initiatives is the recovery of jobs in Quintana Roo.
Due to the global pandemic of COVID-19, approximately 100 thousand jobs were lost in the state.
However, by 2021, there had been a rapid recovery of these, which was helped by the federal recovery plan.
By 2021, 15 thousand jobs had been recovered.
This, in turn, propelled long term rentals in the real estate industry, as many people either returned to the state to work or arrived for the first time looking for opportunities.
This increment will continue through 2022, also helping investors to recover from their 2020 losses.
Amongst other initiatives, there is a promise to propel tourism in the destination in order to benefit the real estate industry throughout 2021 and 2022.
According to several studies, tourism will not be back to normal until 2022, making it a priority to continue propelling this industry.
To continue supporting the growth and recovery of the region, the federal government has promised to execute 22 projects in Quintana Roo, with a total investment of a little over 2,087 million USD.
This investment will be divided into several projects through different institutions such as SECTUR (Secretary of Tourism), SEDENA (Secretary of National Defense), CFE (Federal Electricity Commission), IMSS (Mexican Social Security Institute), SEP (Secretary of Public Education), UNAM (National Autonomous University of Mexico), SEMARNAT (Secretary of Environment and Natural Resources), amongst others.
El destino, más de ser uno que estaba abierto para turistas, tiene mucho que ofrecer a visitantes nacionales y extranjeros.
Haciéndolo un lugar único e interesante para inversionistas que buscan generar ingresos de una propiedad en renta vacacional.
The Mayan Train will take the largest part of the investment, representing 86 percent of the total investment promised to the state.
The Mayan Train is an important tourism project that will help increase the capital gain of the state, giving greater value to all properties, as it will push transit amongst several regions in several states, including Yucatan and Quintana Roo.
This project is estimated to absorb 1,795 million USD.
Other large investments will be made to the Federal Electricity Commission, CFE, where 10 projects will be developed with a little over 243 million USD.
Amongst others the education sector, health industry, environment sector and tourism will be benefited.
The development of these projects is not only focused on the recovery of the state and positioning it amongst the best in infrastructure, service, tourism, education and health.
It is also meant to propel one of the most important industries of the state: real estate.
If you’re having any doubts about investing in the region, there is no better time to do so.
All investments planned for 2021 and 2022 will push the destination.
Jobs will be created and thousands of people will drive demand for long term rentals.
Short term or vacation rentals will also benefit with the investment made to bring more tourism and recover and surpass 2019 numbers, as it was originally planned in 2020.
But over the past year and a half, there was an increase in long-term digital nomad arrivals. With the work from home fashion and easy access to remote work, many people flocked to the Caribbean coast town to settle down for a few months, while things picked back up in their countries.
With this, the demand for vacation rental accommodations shifted slightly, with focus on not so short-term periods, but rather rentals for 3 to 6 months.
This gave a steady income for a few months to investors renting out on vacation rental platforms, which was much appreciated in a time when travel was still restricted.
Playa del Carmen’s was a big plus in having people rent out here, as they have access to good WiFi, easy transport and access, good hospitals, supermarkets, and a lot of entertainment.
investments who chose to invest in popularly demanded areas such as downtown, were making a big bang for their buck.
Investments are a good option to live in the Riviera Maya
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