18 March, 2023
Most of my contacts and clients always ask me the same question: How is the real estate market in the Riviera Maya? Well here I share a summary of the behavior of the real estate market during 2020 and the trends for this 2021.
2020 ended and despite the impact that the Covid-19 pandemic has had on the real estate sector, the southeastern region of Mexico.
In specific Cancun and the Riviera Maya, it has remained stable and growing according to the Lamudi real estate portal.
Likewise, in their 2020 Real Estate Report they indicate that on a digital level the demand in the Riviera Maya has stood out due to the interest in coastal areas.
In Playa del Carmen there are properties from 2 to 7 million pesos, while in Cancun the greatest attention is directed towards units that range between 2 and 4 million pesos.
This region attracts international tourism and needs infrastructure, as well as meeting the constant demand for housing both from workers serving the tourism sector, and from foreigners who decide to come to live in the country.
Regarding the supply in the southeast region, a greater participation corresponding to the Medium Interest and Residential Segments is appreciated with 39% and 29%. Respectively, while Social, Residencial Plus and Premium have a record of 14%, 13% and 4 percent.
The entity of Quintana Roo, with a total population of 1,857,985 inhabitants and a density of 37 inhabitants / km2.
Quintana Roo is the Mexican state with the highest population growth as a result of migration, with an annual rate of 6.8 percent.
In the South region, it can be seen that Quintana Roo and Yucatán are the entities with a greater participation with 42.99% and 36.31% respectively, this represents more than half of the total supply in the area.
Regarding the outlook for the following year, Daniel Narváez, Marketing VP of Lamudi commented “the market has gradually improved, there are good prospects for the end of this year and early 2021”.
Although it has not returned to the average sales of 2019, but comparatively there are slight improvements (between 2 and 5%).
There are forecasts of growth in infrastructure in the southeast derived from the construction of the Mayan Train, the Tulum airport, the Lagunar bridge, the Zaragoza Canal, the Logistics Hub, among others.
These projects have generated constant and continuous investment in this region; It is important to emphasize that investors are also interested in acquiring land.
The foreign market sees Mexico as an attractive sector for retirement and investment due to factors such as the cost-benefit ratio that they would not have in their countries of origin.
In the Mexican territory the costs are lower for the acquisition of the residential sector (houses and apartments), as well as its vast cultural offer that ranges from gastronomy to tourism.
If you are ready to invest in this Mexican paradise and generate passive income while keeping your investment safe, then tell me what I can do for you to find the property of your dreams.
We are a company dedicated to the Sale of Real Estate and we also offer the option to Manage, Promote and Rent. Our real estate inventory and area of operations extends to the Riviera Maya mainly in the cities of Playa del Carmen and Tulum...View More