Although the global economic crisis has effected many parts of Mexico, the Riviera Maya is bucking this trend with ongoing high resort occupancy. With a new airport under construction, and projections of a six fold increase in annual visitors over the coming fifteen years, Tulum is a great place to invest in condominiums. See the following article from International Living for more on this.
Greetings from Tulum on Mexico’s Riviera Maya. The sky is blue. The sand is white. The weather…just perfect.
Whatever you’ve been reading about tourism in Mexico doesn’t apply here. Where I’m staying is completely full—not a single room at the inn. Last week they were overbooked. So far this year they’ve been at 96% occupancy.
I’m just one of a growing number of visitors to this part of Mexico. More tourists mean opportunity for anyone who can supply them with the one limited resource tourists desperately need in this area. More on that in a moment.
First…what a week to visit. Mexico’s president was here regaling the press and invited dignitaries with plans he has for the Riviera Maya. It’s a story I’ve been talking about for more than a year.
Last year, the Riviera Maya greeted 2.9 million visitors. The talk on the ground here is of a government plan to increase this number to 18 million by 2025. An increase anywhere near this means a major infrastructure investment.
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President Calderon was here on Monday with his minister for tourism and infrastructure. He officially kick started the Tulum Airport project.
Construction contracts will be awarded by the end of the year, with construction to begin shortly afterward. The 1,500-hectare site (just outside Tulum) is “ready to go.” Once open the airport will handle 3 million visitors.
That’s a lot of extra people who will need a place to stay.
Fifteen minutes away from where the new airport will be built is a beach resort—my top resort rental investment pick right now. This is where I’ve been spending my time this week (with members of Real Estate Trend Alert).
Right now, there is a shortage of rentals in this resort—before the new airport lands 3 million visitors in the area.
It boasts all the amenities you would expect from a major high-end resort. Shops, tennis courts, a spa, and restaurants overlooking the natural wells dotting the golf course. The Robert Trent Jones golf course. It’s world-class. Not just according to me—tennis super star Rafa Nadal thought so when he played here on Monday. (He’s considering buying a second home in the resort). More importantly, my playing partners among RETA members thought it was best course they had ever played.
The resort has 2,700 rooms but they need 3,000 to meet current demand. A developer I know is building 300 condos right on the golf course. Prices start at $164,000.
The resort has already agreed to rent all 300 condos from whoever buys them. They’ll pay a fixed annual rent for at least five years. They can do this because they have no worries about filling the condos.
The resort is owned by a major Spanish company. They also own Europe’s second biggest travel agency which sells and runs 2.5 million vacations every year. Their hotels along this coast have been operating at 88% occupancy for the past 10 years. The extra 300 rooms will meet the current level of demand…before the airport is built.
This article has been republished from International Living.