Complementing the beautiful beaches, and the vast number of modern services and conveniences, another key attraction to Cancun real estate buyers is the easy travel access provided by the city's international airport.
The international airport has recently been in the process of being converted to an international hub. For residents of Cancun, this means that more direct flight options to more locations will be available, and an increasing number of discount airlines will be providing service to Cancun.
One indication of the success of the effort to make the airport an international hub is the success of the airport's operator, Grupo Aeroportuario del Sureste (Asur) in recovering from the slow down of revenues during the recession.
ASUR's revenue in the third quarter amounted to 955.5 million pesos (about 80 million USD), showing a sharp rise of 34% over the same period of 2009. In the same period, passenger traffic rose 11 percent. While the company operates several airports, Cancun is by far the largest, and the majority of this recovery would reflect growth in Cancun.
This growth in Cancun means a few things for owners of properties in Cancun. As mentioned above, increased air traffic will convert to increased flight options, a true convenience for residents returning home, or heading to other parts of Mexico or even the world. It likewise reflects growing tourism. Growing tourism mean higher rental demand for Cancun condos. Owners of condos out in the Hotel District will enjoy a larger market of vacationers in order to cover expenses of their own vacation property, or to see financial return on a purely investment focused condo.
The growth in tourism which this reflects will likely be accompanied by ongoing growth in interest from expat buyers. In addition to benefiting condo owners, this will also benefit those who buy Cancun homes as fixer-uppers projects in the downtown area; homes in Cancun's downtown are becoming an increasingly among expats.
The increase in airport traffic is also closely tied to a new market in tourism in which Cancun has been tapping into fairly successfully – international conventions and business meetings. This type of tourism brings large numbers of visitors who tend to spend higher amounts than regular tourists, since the organization they represent covers basic travel and food expenses. These groups can also fill large hotel spaces during low season. All of this adds up to an economic boost, increased cash flow and increased investment into the Cancun area. This means more services for residents to enjoy.
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