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Monday October 16 2017
Beaches Galore at the Riviera Maya
Author:
Gabriela Cano, Softec - 2009


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The Riviera Maya, located in the state of Quintana Roo, includes the locations of Puerto Morelos, Playa del Carmen, Puerto Aventuras, Akumal, Tulum, Sian Ka’an, and Punta Allen.

The Riviera Maya, just as Cancun, has positioned itself as the main beach destination nationwide. Currently, it has roughly 35,000 hotel rooms - well above the 28,200 found in Cancun. The municipalities included in the Riviera Maya have shown the greatest population growth in the country in the last five years, at average rates of 18%.

In the last two decades, Playa del Carmen, the main location on the Riviera Maya, has become one of the main tourist resorts in the country, turning into a city that offers hotels in every category. Based on investment projections, construction of tourist super projects will continue throughout the region.

Due to the strong promotion of tourism, the Riviera Maya has shown strong growth in hotel infrastructure, as well as in top level resorts and residential developments. This has led to a strong inflow of foreign visitors, mainly from Europe, the US, and Canada. Among the infrastructure features of the area are the Cancun international airport and the highway which communicates Cancun to and from the Riviera Maya; Playa del Carmen is approximately a 50 minute drive from Cancun.

For these reasons - as well as its spectacular natural and cultural assets - the Mayan Riviera is appealing to national and foreign investors, and has become one of the main poles for tourist development. Factors such as the creation of a new airport, the train to Tulum, the improvement of highways, and growth in tourism infrastructure - such as new hotels, golf courses, and tourist super projects – have and will continue to be essential in order to keep attracting foreign investment to the area.

Inn addition to properties for sale, it is common to find fractional ownership - that is, acquiring a part of the property which gives the holder the right to guaranteed use for certain weeks a year. Some of these projects include Aldea Thai, and Pueblito Escondido among others.

Due to the global economic crisis, sales rates have stabilized and some projects have had to delay their launching dates. It is estimated that the demand for tourist residential products will pick up again next year.

Tourist Residential Housing

The vacation housing market - with home prices of over $100,000 - has shown significant growth, going from 250 units sold in 2005 to 1,000 units by 2008. Currently, there are approximately 110 projects for sale in the tourist residential segment, offering close to 3,600 apartment and villa type units.

The product type in the Riviera Maya ranges from 65 m2 to 400 m2, providing different choices for potential buyers. Prices range from $1,500/m2 to $4,000/m2; Higher prices are found in Playa del Carmen, where most developments are found in Playa Mamitas, Fifth Avenue, Xcalococo, Playacar, Grand Coral, Selva Mar, and Mayakoba. This area is a more consolidated, and offers improved services and infrastructure, ocean view developments, and top level amenities, security, and comfort.

Average sales levels per project have stabilized, selling an average of 0.5 to 1 unit per month. Developments within Playacar - the first and main development in Playa del Carmen - offer internal security, a golf course, and beach access. In the last years, Mamitas, Flamingos, and Fifth Avenue have grown faster than others, as they are preferred by customers who want to be close to the action.

Private developments have appeared close to main tourist resorts, including Mayakoba, Selva Mar, Grand Coral, and Mayan Palace among others. As a result of its strong growth, Playa del Carmen has improved its service infrastructure, offering self-service stores, shopping centers, and a wide range of restaurants, stores, and entertainment centers.

Puerto Aventuras is another tourist residential development that has positioned itself in the residential market with its last stage of development. Within the development, there are hotels, a golf course, marinas, and leisure areas; to date, it has around 22 projects for sale with a wide range of sizes and designs.

In the last few years, projects have also developed in the Tulum and Akumal areas, where there is growth potential for the next few years.



NOTE: This article was prepared by SOFTEC with proprietary data. This information is obtained in a quarterly base in the 36 most important cities of Mexico. For any questions, comments and/or clarifications, please contact: estudiosdemercado@softec.com.mx

 

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