To invest in the Mexican Caribbean is synonymous with a prompt return on your investment. Are you an entrepreneur, or plan to invest in the Mexican Caribbean? In that case, it is good to know the tourist indicators that will support you in having a broader vision of the economic potential.
Property prices in the USA continue to rise, not only here but worldwide, as current real estate trends are highly interconnected.
The most significant demand is in single-family homes. Therefore, prices floated, and supply decreased. It is increasingly common to hear young entrepreneurs and professionals who want to acquire a property.
However, they want to acquire small spaces without considering extending a family. And there are young couples who postpone a long-term family project and want a single-family home.
Thus, prices have skyrocketed since 2020 and are expected to remain so until 2024 and beyond. And so forth, you will have the certainty that the value of your property will rise. And, in a year or two, you could recover your investment by selling it and obtaining a profit during the transaction.
Real Estate Market Prices
The pandemic affected real estate market prices. Given the black panorama generated by the COVID-19 pandemic in 2020, the housing market was compressed, prices fell, and sellers and buyers decided to wait until a better time or the global epidemic passed.
Many changed their minds and decided not to sell or buy until they saw better signals in the market.
However, after a couple of months, prices rose again. And the seller’s market was stronger than ever in 2021. The median list price of a single-family home in 2020 reached $350,000 in September 2020, an 11% increase from September 2019.
The national median home price for active listings increased by 14.3% to $435,000 in August 2022 compared to August 2021. This year, single-family home prices are rising rapidly.
After the pandemic, many young buyers set themselves the goal of buying their own homes. Therefore, they are willing to pay considerably above the requested price to ensure their purchase.
They discovered that having their own space satisfies vital needs, the confinement with their parents or relatives or strangers to share the house was not so pleasant, and they came out saturated with imposed presences.
Rising house prices have pushed up the home values of current homeowners. Many people saw themselves forced to sell their property due to the economic crisis generated by the health crisis but were pleasantly surprised that their property skyrocketed.
But not all can afford to buy a house in the USA. If you are thinking of investing in real estate, why don’t buying in a place that will give you even more profit? Either by selling later or by renting your home to vacationers.
Home equity is the total value of the home minus the amount that you owe. So as market value increases, so does home equity. Home equity increased by 6.6% or an average of $10,000 per home in 2020. Online searches for “home equity” doubled in the last decade.
Invest in the Mexican Caribbean
In the case of the Mexican Caribbean, hotel investment did not stop during the pandemic. This provided confidence to the real estate sector.
The vast potential that Quintana Roo has with its 125 thousand rooms in one thousand 308 lodging centers, with an average occupancy of 78.4% and a stay of 2.8 nights, as well as being a generator of 49% of the foreign exchange that tourism receives in Mexico by the tourism industry of the Mexican Caribbean.
Let’s look at the specific case of Playa del Carmen real Estate. This tourist pole has the confidence of 287 hotels of different international hotel chains with 44 thousand 121 rooms.
It generates an annual influx of 5 million 654 thousand 714 visitors, leaving a spill of more than 4 million dollars 615 thousand 61.
This is in line with the 2021 figures of the State Tourism Secretariat. The prosperity attracts thousands of Mexicans and foreigners who wish to settle in this beautiful town. And they want to rent or buy a house. So, to invest in the Mexican Caribbean is a great opportunity in this times of crisis.
Always remember to seek the advice of our real estate experts, who will kindly guide you until you find the property that suits your budget and needs.