Real Estate Market History of Quintana Roo
The history of the real estate market in Cancun Started in the early 70s. Until 1974, Cancún was a small fishing village, but then it became an international tourist place. Then in the 1980s, there was a boom in tourism that turned Cancún into an excellent vacation center with tourists coming from the United States, Canada, Europe, and the rest of the world.
Then it was the turn of Playa del Carmen which, back in the late 80s and early 90s, was just the Pier village where you picked up the ferry in order to get to Cozumel. But since the 2000s, Playa del Carmen has been one of Mexico’s real estate’s strongest appreciation markets and one of the cities with the fastest-growing markets in the world. It had an even stronger boom than Cancun.
Around 2008, since Tulum was separated from the municipality of Solidaridad, it started to follow the path of Cancun and Playa del Carmen. Finally, around 2011 Bacalar Real Estate followed their steps.
Bacalar Real Estate Market Projections
Buying a property in Bacalar real estate market is a safe bet. Its real estate market is one of high interest.
First, the beauty of Bacalar is impressive. Second, the natural attractions that lure tourists and people who want to live near Bacalar, and Bacalar lagoonfront is extremely strong.
The rate of appreciation that started in Cancún now goes further south. The property owners and tourists want to go south. So, you should be looking at Bacalar homes for sale.
Now, obviously, Bacalar is not oceanfront. People who want to follow their dream of having an oceanfront property might go to Costa Maya and not Bacalar. However, Bacalar offers something incredibly unique. The color of the lagoon is just amazingly beautiful. It is the same color as the Caribbean. On top of that, it is sweet water and not salt water, so if you have a boat in Bacalar, the boat’s maintenance is nine times less than if you have a boat in saltwater.
Now, going back to the boats, the community, the city, and the state are doing a great job protecting the ecology. They are trying not to allow certain gas motorboats on the lagoon. They are allowing kayaks, sailboats, electric boats, and non-motorboats.
How is the appreciation of Bacalar Real Estate
The pricing has been coming up. Not many, but some speculators have bought lands, expecting that the demand will come as the years go by. If you are outside the urban sprawl, it is very difficult to get permits. You must have a lot of land to get them. This is also good because it means that you have to have some number of hectares of land just to build a little house.
That all means that the appreciation is going to be strong in the next five, ten, or fifteen years. Look at how Florida was 50 or 60 years ago and how it continues to grow now.
Currently, 80% of the retiring population wants to get out of the cool weather, so they are looking to be at the ocean. Thus, you just have to look at what happened to Florida to see the future of Quintana Roo.
The Mayan Train Project
There is also the Mayan Train Project. In the last year, the announcement and the advancement of the Mayan Train have been extremely positive, and it’s being executed.
What is nice and amazing about the Bacalar Terminal of the Mayan Train is that, basically, it connects with the Cancun International Airport Terminal. Next, it goes south into Puerto Morelos and Playa del Carmen. After that, Tulum, Playa del Carmen, Felipe Carrillo Puerto, and finally reaching Bacalar.
This is going to be a fabulous project because it will make travel easy for anyone. Either if you own a local house near the lake of Bacalar, or you are a tourist, it will be a wonderful experience. Imagine walking from the Cancun airport Terminal to the Train station, jumping up on the train, sitting back, and enjoying the views all the way south until you reach Bacalar. And this will be a very positive asset on Bacalar real estate.
There is also a rumor of building an airport between Tulum and Coba, which would influence the real estate prices in Bacalar, but this is just a rumor now.
Potential Buyers of Bacalar Real Estate
In the past 5 to 10 years American, and Canadian buyers wanted a lot of resort-like luxuries and amenities around. However, Bacalar market has, currently, a new kind of buyers, the adventurous.
They range from 50 to 55 years old, and they want to live in Mexico with Mexicans. Furthermore, they would like to live in a laidback town. And the great thing is that there are commodities, amenities, and hospitals very close by.
If you need more information please just contact one of our Top Mexico Real Estate representatives, they will be more than glad to assist you.