The Caribbean is an important tourist area for the country, which is why real estate investment has grown in recent years thanks to the tourism sector. More and more foreigners are looking to visit and acquire a property in this area, as well as nationals from other states.
The increase in vacation rentals in the main cities of the Caribbean drives the economic growth of the state and the real estate sector, thanks to platforms such as AirBnB and Vrbo, among others.
Likewise, there are more international companies seeking to expand and open offices in this area. The commercial sector is one of the most benefited, in addition to improving the quality of life of the inhabitants and increasing the sources of employment in the state.
In this article we will talk about the reasons why investing in the Mexican Caribbean is one of the greatest opportunities to do business in the real estate sector with industrial and commercial land.
Reasons to invest in the Mexican Caribbean
Undoubtedly, one of the main reasons that drives investors and entrepreneurs to invest in real estate in Quintana Roo is the considerable economic income that allows generating high profits.
There are many reasons to invest in Quintana Roo, however, we will mention the most important ones, which is why buying a property in this state is the best investment you can make to protect your capital from inflation and financial bubbles, since real estate is a stable and secure market.
The Mexican Caribbean is located south of Mexico and extends throughout the state of Quintana Roo and the southeast of the Yucatan Peninsula.
In addition to tourism, its location allows import and export activities, thanks to its convenient location near the Gulf of Mexico and the United States, as well as Latin America.
In addition to this, the Cancun International Airport connects the rest of the country and the world with the main cities of the Caribbean, since it is one of the most important in Mexico and receives the most traffic.
The Riviera Maya and Cancun are world-class tourist destinations, considered paradises on earth. Both its location and its tropical climate allow the extensive development of the area in economic matters and, above all, real estate.
In terms of real estate, location is a key factor for increasing the value of a property, and with the many attributes that the Caribbean enjoys, investing in this area is a safe bet, both for companies and entrepreneurs.
Tourism is one of the main economic activities in the state, and this is because the white sand beaches with turquoise waters of the Caribbean make anyone who visits them fall in love.
The mysticism that surrounds the traditions and culture of the region is a key factor, since the Mayan culture is lived to the surface and the various activities that can be carried out in the area involve elements that praise it.
An example of this is the great economic benefit that has its origin in the many aquatic activities that you can do, from swimming in the sea to diving in coral reefs. Equipment rental and tour hire is an important source of income for tenants.
The Caribbean includes the most important tourist destinations in the country, which are:
We can also mention Puerto Morelos —a fishing village with interesting attractions— and Grand Costa Maya made up of: Chetumal, Bacalar and Mahahual.
These destinations welcome millions of visitors each year, boosting the state’s economy and fostering local commerce.
The Caribbean has countless natural and tourist attractions in addition to its beaches, such as archaeological sites, cenotes, exclusive beach clubs located in the hotel zone, restaurants, bars, and much more.
The government of Quintana Roo is aware that, in order to maintain the high rates of tourist influx, it must allocate a significant amount of the state budget to improve and strengthen public services.
Because the Riviera Maya and Cancun are relatively young areas, the infrastructure is more modern than in other states; In addition, with the arrival of new companies and the creation of more businesses, it is expected to satisfy the needs of visitors and inhabitants.
The improvement in the infrastructure of the cities that make up the Mexican Caribbean considerably increases the added value of the area, making real estate investment more profitable than in other places.
Among the improvements in which it has been invested is the investment of 1,500 million pesos, whose objective was to return Quintana Roo to the state with fast internet through fiber optics.
The high number of visitors that the beautiful Caribbean beaches attract ensures constant growth, as the flow of tourists keeps the local economy in constant motion.
This provides new business and employment opportunities, in order to offer the best products and services, both to locals and foreigners.
This growth is due —in part— to the high numbers of Foreign Direct Investment in the state of Quintana Roo, since since the beginning of 2019 an investment of 2 billion dollars was announced during the 2019-2021 period, which bodes well for forecast for years to come.
The fact that foreigners can acquire a property in Mexico encourages the economic and real estate growth of the state, for which changes have been made in the regulations that facilitate the pertinent procedures for this to be carried out.
It might be thought that since it is a privileged area with high added value, it is expensive to acquire land in Cancun or land in Playa del Carmen, however, prices are more accessible than in the center and north of the country.
The square meter of land, being cheaper, offers the possibility of acquiring more than one lot or land that allows you to diversify your investments, or in any case, a larger budget for building a business.
In addition, the offer of properties is more varied, because as it is a young area, there is still a lot of room to grow and develop new residential, commercial and industrial areas.
The northern and central areas of the country are experiencing difficulties in meeting the demand for well-located land, since they are already saturated areas.
The real estate sector in southeastern Mexico still has much to offer with land in privileged locations at competitive prices for various types of business and industry.
Current economic outlook
Arturo Herrera Gutiérrez – head of the Ministry of Finance and Public Credit (SHCP) – declared that the state of Quintana Roo is part of the pillars of the country’s economy and economic growth, since since 2013 there has been an annual growth of at least 3.1% in financial matters, which was an important warning for investors interested in this region of Mexico.
Financial specialists —including the Bank of Mexico (Banxico)— estimate that the national economy will reach 6.5% progress by the end of 2021, which bodes well for 2022.
Despite the fact that the COVID-19 (coronavirus) pandemic affected the world economy, especially sectors such as tourism, the economic reactivation is on the right track, which is why places like the Riviera Maya are adapting to the new sanitary measures that allow to receive the greatest possible tourist flow safely.
Among the sectors that participated in the first stage of economic reactivation in the country is the real estate and construction sector, because its importance as a pillar in the Mexican economy is recognized.
As the vaccination process progresses in the country, it is possible to extend hours and increase the occupancy capacity of hotels, theaters, cinemas, restaurants and other businesses that serve the public.
As well as large real estate projects such as the Central de Abastos de Quintana Roo based in Playa del Carmen, which will be the largest in the state.
We can say that the economic outlook maintains encouraging figures to end the year at a good pace, and that 2022 will arrive with a greater number of investment opportunities.
Real estate investment in the Caribbean
As we have seen, important cities make up the Caribbean, however, among those that contribute the most to the state GDP are Cancun and Playa del Carmen, which are positioned as the favorites of tourism above Tulum and Puerto Morelos.
Cancun is a city with an ideal location for real estate development, thanks to its first-class infrastructure that includes an airport, bus station, highways, boulevards, streets in good condition, and public lighting.
In addition, the excellent quality of its services and amenities make it a desirable city for investment. For this reason, world-class forums, congresses and events are constantly held that attract the attention of businessmen and investors.
On the other hand, the land for sale in Playa del Carmen is the best option to carry out different types of commercial businesses, because in addition to being an internationally known city, its famous Fifth Avenue becomes an ideal for many who want undertake or expand to this place.