Buckle up, real estate investors, because the Riviera Maya is about to hit the accelerator on growth in 2024! The Mexican Association of Real Estate Professionals (AMPI) predicts a game-changing year fuelled by the arrival of two titans: the legendary Maya Train and the gleaming Felipe Carrillo Puerto Tulum International Airport.
All Aboard the Investment Express:
Imagine this: tourists whisking through the jungle on the Maya Train, emerging with wanderlust eyes fixated on sun-kissed beaches and turquoise waters. This isn't a travel brochure, it's the future of Riviera Maya real estate. AMPI's Edgar Karim expects the train's chug-a-long arrival, alongside the airport's grand opening in March, to catapult short-term rental investments (think Airbnb goldmine!) to stratospheric heights.
2023: A Banner Year for Building Dreams:
While 2024 promises fireworks, 2023 wasn't exactly a snoozefest either. Over 600 developments sprouted like palm trees along the sizzling Cancun-Riviera Maya corridor, primed to hit the market next year. Get ready for a surge in demand, Edgar predicts, potentially doubling what we saw in previous years.
Prices Soaring Higher Than Toucans:
Hold onto your sombreros, folks, because property values in the Cancun-Riviera Maya corridor are skyrocketing. AMPI reports an 8% rise in 2023, translating to a cool 50,000-60,000 pesos per square meter. And guess what? This upward trajectory shows no signs of slowing down in 2024.
Beyond Beach Bungalows: A Diversified Horizon:
It's not just sunseekers driving the Riviera Maya real estate boom. Medical tourism is experiencing a renaissance, attracting visitors seeking top-notch healthcare. This translates to booming demand for specialized clinics and, you guessed it, convenient commercial complexes catering to these communities.
Data-Driven Insights You Can Bank On:
Here's some juicy intel to whet your appetite:
Lamudi, a real estate portal, reports significant post-pandemic growth in housing projects, hotels, and business centers across Quintana Roo.
Residential developments lead the pack, accounting for a whopping 77% of the market.
Actinver, a financial powerhouse, paints a rosy picture for Quintana Roo's economy, forecasting an 8.2% GDP rise in the second quarter of 2023, with the construction sector experiencing a mind-boggling 332.9% surge!
The Verdict: Invest in Riviera Maya's Golden Age
With the Maya Train chugging into town, the Tulum airport taking flight, and a diversified economy soaring like a majestic eagle, Riviera Maya's real estate future is brighter than a Mayan sunset. So, if you're an investor seeking lucrative opportunities, pack your bags (and your pesos!), Riviera Maya is calling your name.
Ready to dive into the Riviera Maya real estate wave? Let's chat!