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Mexico Real Estate - How The Cancun Airport Has Shaped the Area's Market


Thomas Lloyd,  Broker By Thomas Lloyd
2011-07-04

In late June, 2011, the Mexican airline company, Aeromexico, announced that it would be opening a new route from Cancun to Miami, among others.  From an airport that already has abundant connections to Miami and all the other main U.S. hubs, this may sound like insignificant news. Yet, the phenomenon that it reflects is very important in understanding how Cancun International Airport has shaped Mexico real estate in the area. 

 

Cancun real estate is appealing; wide, white-sanded beaches, beautiful condos overlooking these beaches, modern shopping malls, excellent restaurants, large international stores from the U.S. and many other features make it one of the top choices within Mexico and Latin America.

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Similar points can be made of Playa del Carmen real estate, which is 45 minutes south, with its European lifestyle atmosphere and flavour, and the quaint shopping & dining district of Fifth Avenue.  Low-rise condos and luxury villas offer very similar beachfront living experience that is distinctly small-townish.  Homes and condos on world-class golf courses also offer an attractive option.

 

Both hold high appeal.  Yet with the development of these locations as the driving forces in the leading tourist destination in all of Latin America came the growth and expansion of the airport.  As more tourist and real estate spots began developing in the area (Cozumel, Puerto Morelos, Puerto Aventuras, Tulum and even Costa Maya far to the south) the airport began to welcome a larger variety of flights from cities throughout North America and Europe.

 

The flights continued increasing until, during 2009, the airport had become the second busiest airport in Mexico, surpassing those in large cities such as Guadalajara.  At the same time, the airport was expanded with a second runway and Latin America’s tallest control tower, giving it the potential to become the countries busiest airport within about a decade.

 

These developments have, in turn, done everything to shape the real estate in these two thriving markets.  One fact is that it simply makes it easy to get here.  There are direct flights and cone/cting flights from just about any North American airport you could name.  These flights head out any day, at just about any time of day.  So, whatever a buyer’s needs for heading there and back, there are ample flight options, allowing buyers to plan their flights around their life, and not the other way around.

 

The other point about these flights is that they are cheap.  It is cheaper, for example, for a passenger to fly from Toronto to Cancun than from Toronto to Winnipeg or Halifax (two cities with their own kind of charm, but also their own kind of cold –the very biting kind!)  It is also cheaper to fly from New York to Cancun than to fly from New York to Chihuahua (the state in northern Mexico that gave its name to the dog) or form Cancun to Guadalajara.  The bottom line is, flying to Cancun is cheap.  Since most buyers look to Mexico to save money, this is very important.

 

These very factors combined have brought a greater number and variety of real estate options to both Cancun and Playa del Carmen.  This means buyers have more property options and more flight options.

 

Although this one new flight addition to Miami may not seem like a big deal, it is a reflection of an ongoing tend in Cancun to expand its airport and flight options for the better of real estate buyers on all levels.

 

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Region:  Playa del Carmen real estate.

Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of TOPmexicorealestate, you can contact him at (512) 879-6546.

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