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August 23, 2021
It is not surprising to learn that the Riviera Maya and its vacation rentals market have generated $ 30 billion.
The tourist destination is one of the most popular in the world, and with COVID-19 travel restrictions in many countries.
Mexico became the destination of choice for those looking for a well-deserved vacation.
This was good news for vacation rental owners. Of course, prices are much more competitive than in luxury resorts, and allow tourists to have a more local and cultural experience.
The destination, more than being one that was open to tourists, has a lot to offer to national and foreign visitors.
Making it a unique and interesting place for investors looking to generate income from a vacation rental property.
Of course, Playa del Carmen continues to be a destination that many people want to visit.
And for some, it’s a destination they keep coming back to.
Playa del Carmen is privileged with beautiful white sand beaches, cenotes and underground rivers, an incredible social life, world-class restaurants, and a warm and summery climate throughout the year.
With the possibility of working from home and access to remote work, many people decided to move to the coastal city for several months, while things improved in their country.
With this, the demand for vacation rental accommodation changed a bit, with a focus on not so short-term stays, to periods of 3 to months.
This gave investors a fixed income for a few months renting their houses on platforms. That is why it was very well received during times when travel was still restricted.
In Playa del Carmen it also helped many people to rent their houses, as they have good Internet access, easy transportation and mobility, good hospitals and supermarkets, and a lot of entertainment.
Investors who buy in more demanded areas such as downtown, are generating a large passive income.
The Cancun International Airport had several infrastructure expansions in 2018 and 2019, thus being able to receive more than 30 million passengers a year.
In 2019, 45 million passengers were registered visiting the region.
While an estimated 40,000 people visited Playa del Carmen in 2017, that number has now grown to just over 80,000.
This led to an average hotel occupancy of 91.4 percent.
And this does not include vacation rentals.
Occupancy, of course, varies by season, but the demand for vacation rentals rose, as did the nightly rate, and occupancy held steady throughout the year.
The majority of vacation rentals were rented through AirBnB (77 percent), while VRBO contributed just 12 percent of rentals.
This shows the importance of having a correct marketing strategy. To be able to rent the property and to work with a property manager who can support you in listing and advertising your property, while you only enjoy your income.
The easy answer is yes.
Playa del Carmen continues to see stable growth patterns and interest in the region continues to be high.
Every day there are more and more options to invest in what was once a fishing town, and prices, styles, and options exist for all types of budget, investor and needs.