Effect of Tourism and the Real Estate market in Riviera Maya
by Zoom Playa on February 19, 2020
There has been an increase in the number of visitors in the Riviera Maya thanks to the incredible Real Estate Investment and leisure opportunities the area provides.
The Riviera Maya is a region of the Caribbean Peninsula on the Yucatán Peninsula in northeastern Mexico. It’s renowned for its many all-inclusive resorts, like those in the city of Playa del Carmen and its long beaches and to the south, Tulum, is a host in yoga retreats and ancient Mayan port city’s restored ruins. It is at an outcrop beyond a white-sand beach.
Statistics
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The projections for 2019 show a rise of 5.8 percent in international tourist arrivals and a 4.3 percent leap in expenditure, “TravelPulse reported.” However, by the end of this year, 23,200 hotels and resorts will be in service, bringing the total number of rooms available to 834,000.
Mexico climbed to become the sixth most popular nation in the world in 2018, increasing 3.4 percent to a record-breaking 39.3 million tourists from abroad. Downtown Playa del Carmen led to a rise in foreign visitor arrivals of 18.19 percent last year, and in 2018 hotel capacity reached 91.46 percent, helping Playa to top the list of Mexico’s most tourist destinations. In 2019, Mexico went up becoming the sixth most traveled nation in the world, reaching a record-breaking 39.3 million foreign visitors by 3.4 percent.
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New Hotel Openings
In 2020, 13 new hotels will open in the Riviera Maya, with a total of more than 5,000 rooms. We can expect the Hilton’s 174-room Canopy to become the first new hotel to start services in the New Year. The Canopy will be ready to greet its first visitors in February 2020, in the hotel zone of Cancún. The 1,200-room all-inclusive Planet Hollywood resort at Playa Mujeres, which is going to open its beachfront doors in March, will be fast on its toes.
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Other hotels that will open in 2020 in the Riviera are the family-friendly 416-room Dreams Vista Resort & Spa, a 120-room Misión Exprés, a 126-room NH airport hotel, and a 675-room Majestic Elegance city in Playa Mujeres.
Another seven major hotels in the Riviera Maya, a 120-kilometer long stretch of Caribbean coastline in northern Quintana Roo, are scheduled to open in 2020.
Impact on the Real Estate Market
Mexican Real Estate Association’s president Wilbert Gutierrez Alvarez said that “objective data are indicating that 400 residences are under construction in the center of the city of Playa del Carmen.” He also emphasized that the median value of these assets is about U$ 150,000. So just in the middle of Playa del Carmen, you can look for about U$100 million assets,” he said. Also, many other buildings are in process in the surrounding residential housing market. It places the stock of today at just over U$ 200 million dollars.
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There’s no denying that tourism will remain a major topic in the Riviera Maya for several upcoming years. The Real Estate market in places such as Tulum, Cancun, and Playa del Carmen are becoming increasingly famous, and there are no signs of stopping. You’ll often see Tulum and Playa del Carmen mentioned in the top ten lists of the best places on the planet, the best beaches to discover, and hot spots for retirement. There is a considerable potential for stakeholders looking to buy real estate in the Riviera Maya, with the low peso as compared to the dollar.
Tourism in Mayan Riviera is at an all-time high contributing to its economy, revenue, and real estate greatly. Contact us today and find out how you can be part of this flux.
