August 20th marked the official end of the summer season in the Riviera Maya. With it came great news of the tourist influx. In fact, 20.6 million international tourists were reported to have visited Mexico just in the first six months of 2018. This is excellent news for investors who are looking to get in on the vacation rental game. Now, more than ever, is a great time to start purchasing revenue properties in regions such as the Riviera Maya. Its increasing popularity is evident in the tourism reports that The Ministry of Tourism of Mexico is often sharing.
The 7.3 percent increase of international tourists over last year’s figures means more accommodation is being looked for. This is evident in the constant growth of big hotel chains such as Hyatt Hotels or Karisma Resorts. The latter owns 10 resorts in the area and will be opening two more between 2018 and 2019. The Tourism Board reported that over the summer holidays the occupancy rate saw an average of 70 percent.
Why Should This Matter to Investors?
The greater the influx is – especially during the high seasons – the more you will be renting out your vacation rental properties. That’s the general gist of it. However, it is also important for investors to look at these numbers prior to investing. That way you will be able to compare areas within the region. Is it best to invest in Playa del Carmen, Tulum, Cancun, Puerto Morelos? In fact, the latter saw its highest occupancy rate over the summer season with 90 percent.
Cancún reported a 92 percent average occupancy rate. This translated into tourists spending money in other sectors such as water activities. This was especially true with seasonal activities such as snorkeling with whale sharks. And even though summer is the Riviera Maya’s rainy season, this year it has been warm and sunny almost every day.
Invest Today!
The time to invest in the Riviera Maya is now. Prices are at their best, and, depending on the region you invest in, you can be looking at renting your property at up to $550 USD per night or even more. With so many available projects on the market, you have plenty to choose from. As investors you need to remember to think of your end user, not so much yourself. Unless you’re investing in a second or vacation home where you will spend part of the year, you need to accommodate your property to be rentable.
The summer season is a great indicator of the future tourist influx. With low season rolling in from September to November, it’s the perfect time to consider investing in a home and have it ready to rent by the upcoming high season. If you want to learn more about how to turn your investment into a rental star, check out our last webinar with expert property manager, Rick Turenne, here.
And remember, at Top Mexico Real Estate…we make it happen!
