Riviera Maya real estate investment is stronger than ever. An estimated $200 million USD have been invested in new projects for the year 2017.
Riviera Maya Real Estate & Tourism
This news comes from Wilbert Gutierrez Alvarez, President of the Mexican association of Real Estate Industry. The tourism industry in the area is growing and growing with records being broken year on year. This is creating a demand for properties in hot destinations like Playa Del Carmen.
“There is concrete data that show 400 apartments are being built in the center of the city of Playa del Carmen. Each of these apartments have an average value of about $150,000 USD, so you are talking about about $100 million dollars just in the center of Playa del Carmen, not to mention all the buildings being constructed in the residential housing market in surrounding areas, which at today’s value is just over $200 million USD.” – Wilbert Gutierrez Alvarez
The popularity of the area is undebateable. Towns such as Playa Del Carmen regularly place on ‘Top 10’ lists. The Riviera Maya is often chosen as one of the best places to travel to and live abroad. Riviera Maya real estate is recommended by the likes of Live and Invest Overseas. They place Playa Del Carmen as one of the top 9 places to invest in real estate in the world.
Arturo Machuca García is the president of the Colegio de Valuadores de Quintana Roo. He believes that despite national economic uncertainty throughout 2016, “the good numbers of tourism activity in Quintana Roo generated a significant economic spillover among the population, which allowed them to continue building new complexes and acquiring housing.”
The Popularity of The Riviera Maya for Investment & Tourism
The Riviera Maya has remained steadfast in it’s international popularity. Many popular Mexican destinations have succumbed to the strains of the Trump Effect, the depreciation of the peso and growing regrets of violence. However, despite this, the Riviera Maya has remained largely untouched by such grievances. Cancun and the Riviera Maya responded to safety concerns by increasing police presence in tourist areas. They also provide free English lessons to their Police officers.
Potential investors are also still benefitting from the low peso against the dollar. While properties are no longer as cheap as they once were, they are significantly lower than other coastal locations in the U.S. Or Europe. Moreover, Riviera Maya real estate boasts some of the best beaches and nature reserves in the world. And while Riviera Maya real estate is traded in dollars, costs remain in pesos! Meaning rental costs work In the owners favour.
While uncertainty plagues North America, it seems the Riviera Maya is a protected piece of paradise where you can spend your precious time and money in confidence.