One of the main factors to consider when buying Mexico land is the investment into urban infrastructure in the given area. This, in particular, is the strength that Cancun land offers buyers. One recent example of this is the funds invested for the 2010 Climate Change Conference.
In addition to large amounts invested into other preparations, just a month before the beginning of the conference, another $180 million USD (2 billion pesos) were being designated for urban infrastructure, mostly road improvement and lighting, linked directly to the security of the conference.
The 4 projects chosen by the mayor included improving Jose Lopez Portillo Avenue and Luis Donaldo Colosio Avenue, which connect Cancun to Merida and to the Riviera Maya, as well as for street lighting. For the improvements of the two roads, about $25 million and $34 million, respectively, was allotted, while for lighting approximately $50 million was designated.
The role of Cancun as a center for international conferences has been growing considerably in past years. With each large-scale event comes a wave of large-scale investment, bringing new development to parts of Cancun.
For Cancun land investors, this is a good sign, meaning that ongoing infrastructure development will open new real estate areas within the city, providing new opportunities. Road expansion and improvements, as well as lighting, are especially important for this process.
The majority of investors in Cancun focus on condominiums in the hotel district, and a growing number are buying homes in the downtown area – fixer-uppers as well as luxury homes. While land has received less attention, it remains a viable real estate choice, both for investment and for the purpose of building a home for vacation or retirement in Cancun.
The upcoming Climate Change Conference is expected to bring about 10 thousand people to Cancun. This United Nations conference will be held from November 29 to December 10.
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