Mexico: Engel & Völkers opens new shop on the Yucatán peninsula

Engel & Völkers is continuing on its course of international expansion with the opening of another Engel & Völkers Shop in Mexico. In addition to the real estate shop in Los Cabos, on Mexico’s west coast, Engel & Völkers has also been recently represented with a shop in Playa del Carmen on the east coast. This latest location will broker premium residential properties in the coastal resorts of Cancún, Playa del Carmen and Tulum. “The opening of the new Engel & Völkers Shop in Playa del Carmen will help to further strengthen our market position in Mexico. Clients from all over the world get access to the exclusive property offer in one of the most sought-after travel destinations and at the same time benefit from Engel & Völkers' many years of experience,” says Carlo Toluzzi, License Partner of Engel & Völkers Playa del Carmen. 

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.