3From a bird´s eye view, we can outline four sectors facing the Caribbean Sea:
In Grand Costa Maya, still in the first stages of real estate development, interesting points could emerge in the area of Bacalar, in Mahahual (Costa Maya’s port), and to a certain extent, in the surrounding area of Chetumal Bay.
Sian Ka’an Biosphere Reserve and its powerful status in the preservation of wild life rule the landscape here. From the perspective of construction developments, there’s nothing left to do. Moreover, we should further support Amigos de Sian Ka’an, an organization that has strived for the preservation of the area since its inception.
The north side begins in Cancun, the best possible example of how urban planning and proper allocation of resources can go a long way. Even when there’s plenty of room for improvement here, there are more pros than cons. From the point of view of real estate, this city has generated amazing capital gain on urban land hardly ever matched in the Mexican market, adding value to areas that in other cities would have taken five more times for them to achieve the same price per square meter as Cancun right now.
Three developments were game-changers for Cancun in the last decade: Puerto Cancun (which, by the way, had been planned since Cancun was founded) and Playa Mujeres, in the tourist front; and Cumbres in the urban residential side of things.
The tourist area in Cancun has been successful in keeping up with the high quality of its hotels and businesses, save a few exceptions, but now Puerto Cancun will cover new ground with its premium residential land, vertical apartment and hotel developments, and business (or mix use) areas, which are currently in vogue when it comes to providing any city with a cosmopolitan vibe. On the other hand, Playa Mujeres is located on the north side of the city, bordering with the municipality of Isla Mujeres, home of this successful project that is sure to continue giving much to talk about.
Urban development in the city changed its course towards Puerto Cancun with the real estate development in the vicinity of Bonampak avenue, which together with Tajamar (previously Malecon Cancun) is contributing with apartment and business projects that have practically become the new core of Cancun’s activity. Even when residential development reached an impasse as Fonatur ran out of land, Cumbres managed to raise a wave of real estate projects that is still going strong all along Huayacan avenue, being Cumbres now the head of the area known as Poligono Sur.
Playa del Carmen has a story of its own. There have been times in the last 15 years when growth has reached over 10% annually. Playacar was certainly influential for the city to pick up, but as of today there are also new elements at play: various social interest housing projects emerged as a result of the requirements of such an explosive growth, some of them of exceptional quality even if lacking in tourist and mid- and high-level real estate appeal. Gentrification has slowly unfolded in the city’s downtown, moving towards urban developments that bring together businesses on the ground floor and apartments in upper floors, some of them top-quality. Nonetheless, given that the city’s growth was rather spontaneous, well-planned sectors covering the demand of B and even A segments were still needed; and it is there that Mayakoba entered as a huge success in planning, with Ciudad Mayakoba. This brings to the market an offer of real estate products ranging from mid-level housing, plots of land with services and utilities where to build single-family homes (such as Senderos), to apartment buildings in a scale of prices that will have to be monitored and controlled to ensure proper capturing. Projects of this kind alleviate the pressure on the city’s downtown and introduce interesting alternatives to the market. We congratulate municipal authorities for supporting these initiatives.
Around Playa del Carmen, particularly in the Punta Maroma area, Amikoo’s arrival has totally changed the meaning of urban planning for the Punta Morelos-Playa del Carmen corridor. In this area, there is sufficient land for the development of several real estate projects meant to present a mosaic of local and nation-wide real estate investment options, offering second-home and business products, among others. We are certainly about to witness great competition in comprehensive real estate projects.
To the south of Playa del Carmen, and as a closing end to Riviera Maya, there is Tulum. Archeological wealth has always been the main focus here, but its beach front is what has made of Tulum THE hippie chic destination (this last expression meaning the most sophisticated in alternative trends). The real estate reservoir of this town is huge, and its characteristics and restrictions in use of land so particular, that they must be thoroughly analyzed only by competent specialists in the environmental and urban planning fields. It is, however and without a doubt, the greatest opportunity available in Riviera Maya. It is important to consider the use of Title Insurances, due to the very diverse source of origin of the land and the different operations that have taken place in some sectors.
Finally, we reach the north end of Quintana Roo, centered around Holbox Island. Due to environmental factors and its limited urban infrastructure, real estate development is quite low and will remain restricted. We can talk about a few tourism-oriented projects focusing on hospitality soon to emerge in the town area, but in any case this isn’t a site to keep an eye on in terms of real estate.
In this brief exploration from south to the north end, we have come to see the north area as the one with the best and most important options for investment, development, and growing the available real estate offer. Cancun and Riviera Maya are two of the best choices for investment in Mexico, with great urban and environmental diversity, as well as several players creating competition, thus resulting in an offer that is rich and of ever-growing quality.