Real estate market on the Riviera Maya offers huge potential for growth
In addition to its endless historical and cultural highlights, Mexico also offers a diverse range of sports and leisure attractions. One of the most popular tourist destinations in particular is the Caribbean coastline along the famous Yucatán peninsula. With their white sandy beaches, turquoise waters, palm trees, coral reefs and Caribbean feel, Cancún, Playa del Carmen and Tulum are among the most desirable holiday destinations in the region. As well as being a vacation hotspot for high-end clients from all over the world, these coastal resorts are also an interesting investment location and second home market for buyers and investors. “Demand for holiday properties is very high in this region and the market is stable. Supply is also high, especially in the luxury segment, so many foreign buyers have invested in premium properties here in recent years,” says Carlo Toluzzi.
High interest from international buyers for properties offering privacy
In Cancún, Playa del Carmen and Tulum, residences with sea views are particularly sought after. Villas at the top end of the market can sell here for up to 15 million US dollars (approx. 12.59 million euros). Luxury apartments in Cancun and the Riviera Maya can command prices per square metre of up to 7,000 US dollars (approx. 5,880 euros). Especially young people currently prefer an apartment near the beach, where they can work and rent it out when they are not using it. “Besides the high demand within Mexico, we are registering increased interest from international clients, especially in the luxury segment. The majority of these clients come from the USA, Canada and Western Europe,” says Santiago Lopez, Real Estate Agent at Engel & Völkers Playa del Carmen, adding: “The wish to own a holiday home is growing. In these challenging times, our clients have set their sights on retreats offering ample privacy, surrounded by nature and the sea.”
Outlook: Holiday homes to remain a stable investment
Engel & Völkers anticipates that demand for high-end first and second homes on the Riviera Maya will continue to rise, especially when unrestricted long-distance travel becomes possible again and the pandemic is brought under control. Due to high international demand luxury properties in Cancún, Playa del Carmen and Tulum are set to remain an attractive investment.