Investors, weâ€™ve got fantastic news for you! Just recently, SEDETUR (The Secretariat of Tourism) reported that Quintana Roo received almost 16 million tourists in less than one year. This represents a 4.3% increase in tourism from the previous year. Because of this, now is a great time to start looking at investing. You should take a look at vacation homes in Playa del Carmen, Cancun and Tulum. SEDETUR also shared that the hotel occupancy during this period stayed at a steady 80% with just over 100 thousand hotel rooms available. Vacation rentals, however, have strongly stood up to the hotel industry by offering more flexible and affordable options.
Airport Expansions and New RoutesÂ
The increase in tourism comes hand in hand with the opening of Terminal 4 at the Cancun International Airport in November 2017. The current passenger capacity is of 30 million people. However, the project â€“ which is set to be concluded in 2021 â€“ will eventually rise capacity to 40 million passengers per year. Over the past few months, the airport has also opened up 27 new routes. Three of these are domestic routes and 24 are international. The cities of origin include major worldwide cities like Vancouver, Chicago, San Francisco, Los Angeles, New Orleans and Munich and Dusseldorf in Germany.
Moreover, the Cozumel airport also announced the opening of a new route from Monterrey, Nuevo Leon. This means that more people will be able to fly straight to the island. On it, you can find some prime real estate for a vacation rental investment, as well.
Why Should Tourism Trends Matter to Investors?
The increasing tourism results in a higher demand for accommodations. Today, platforms such as Airbnb or VRBO open up a range of other options for travelers to stay at. As a real estate investor, you want a booming market interested in vacation rentals for a less resort-like experience. The Riviera Mayaâ€™s tourism indicators have shown steady growth over the past 10 years. With so many available flights from major cities around the world, it comes as no surprise that the numbers keep rising.
It is important to highlight that most tourists come from the United States and Canada. Europe and South America crawl up closely behind them. When purchasing a vacation home in paradise, make sure to keep these markets in mind. You will make more profit if you suit your rental unit to fit the needs, wants and desires of a mostly American market.
Timing is Everything
The main reason why you should invest in the Riviera Maya is timing. Putting your foot into the trend today will guarantee youâ€™re ahead of the game in the vacation rental industry. There are many plans for growth in the area. Therefore, it comes as no surprise that many Americans and Canadians are quickly purchasing rental homes in the region. Many feature turn-key amenities and can be put up for rent right away. Plans such as the construction of the Cancun-Palenque train or the new Xcaret amusement parks are a guarantee that there is no foresight of tourism slowing down in the area.
The Riviera Maya has received international attention, especially Tulum, reaching corners of the world that had never been a major market point. With influencers, celebrities and other important personalities flaunting their trips to the region, it is obvious that more people will continue to visit. With the SEDETUR announced increase, real estate investors already have the base to decide to purchase in the region.
Weâ€™ve got hundreds upon hundreds of listings for you to check out until you find your perfect vacation home.
And remember, at Top Mexico Real Estateâ€¦we make it happen!