As we explore the intricate realm of the Riviera Maya real estate market, the start of 2024 unveils compelling trends that shape the industry’s landscape. As we say goodbye to entering the initial bimester of 2024, conversations surrounding prices, quantity, and the type of offerings in the real estate market take center stage. Discover with us the most notable trends of 2023 in retrospect and compare them to the developments of the preceding year.
Price Range by Area: 2023 vs. 2024
Let’s examine the price range in the main areas of Riviera Maya. Tulu, Cozumel, Akumal, Playa del Carmen, Puerto Aventuras, Yucatecan Coast, Puerto Morelos and Bacalar. The initial focus is on Tulum, where the two primary graphs depict the concentration of prices across different areas.
In 2023, Tulum boasted over 250 developments offering units ranging from $100,000 to $200,000, serving as the epicenter of its offerings. This was closely followed by units priced between $200,000 and $300,000, gradually decreasing within the $300,000 to $400,000 range.
On the other hand, Playa del Carmen barely had 10 units in the 600K price range in 2023. Besides Playa del Carmen, only Cacun and Tulum had enough properties around the 600K price range to make it in on the graph.
Moving to 2024, Tulum’s highest bar shifts to the $200,000 to $300,000 range, overshadowing the $100,000 to $200,000 range. While not reaching the 200-developments mark, this shift in price range is indeed noteworthy.
One year later, Playa del Carmen is close to having 50 units in the $600,000 range. Moreover, other areas such as Puerto Morelos, Puerto Aventuras, and Akumal now have properties in the $600,000 range as well.
Price Range by Unit Type: 2023 vs. 2024
Transitioning to the next set of graphs, we analyze the price ranges by unit type. Within the types of units, we have studios (deep blue), condos (green), lofts (purple), penthouses (light blue), and condos with gardens (orange). In 2023, developments offering condo-type units (1 or more bedrooms) within the $100,000 to $200,000 range were fewer compared to studio-type units.
However, in 2024, this trend has reversed, with more developments offering units with 1 or more bedrooms within the same price range. Notably, the pinnacle in 2024 lies in condominium projects within the $200,000 to $300,000 range.
Price Comparison by Number of Bedrooms: 2023 vs 2024
We have analyzed the bedroom count offerings for the years 2023 and 2024. In 2023, most preconstruction developments focused on offering 1-bedroom units priced between $100,000 to $200,000. However, there were also 2 to 3-bedroom units available within the same price range.
Moving on to 2024, it is more common to find 2 and 3-bedroom units within the price range of $300,000 to $400,000. Units with 4 bedrooms are mostly priced above $600,000, and there are only a few developments that offer single-bedroom units within this price range.
Final Thoughts
You’ll find these graphs handy if you’re interested in the Riviera Maya real estate market. Not only for gaining insights into the evolving trends but also to understand the current state of the market. By analyzing each comparison of 2023 vs 2024, you can better understand how the industry landscape is changing over time.
Whether you’re a seasoned real estate professional or a newcomer to the market, these graphs can help you stay up-to-date with the latest trends and make more informed decisions about your investments. So, take some time to study them closely and see what insights you can glean from this data.