“Real Estate Boom in Cancún & Tulum: Latest Trends Revealed”

Cancún and Tulum are at the forefront of a real estate boom. Currently, there are nearly 60 new developments in the pre-sale phase in the Benito Juárez municipality, and approximately 300 in Tulum, according to Edgar Karim Domínguez, Vice President of the Mexican Association of Real Estate Professionals (AMPI) Cancún. On Colosio Boulevard alone, there are six developments each boasting over 500 units, with an additional 300 units slated for vacation rentals this year. Domínguez also noted that these areas are thriving in terms of infrastructure.

In Tulum, while there are around 300 developments, they face challenges due to a previous oversupply and land irregularities. However, the business sector in Quintana Roo is experiencing a surge, largely due to federal investment in projects like the Nichupté bridge. This new road will connect Colosio Boulevard, Cancún's hotel zone, residential areas, and beachfronts, reducing travel times. This will benefit tourists visiting Cancún and boost vacation rentals. Domínguez emphasized that this growing supply-demand dynamic is a global trend, and in Mexico, a leader in the tourism industry, it's crucial that these projects are completed to provide investor confidence.

Domínguez stressed the importance of buyer certainty when purchasing real estate in tourist destinations like Cancún, Playa del Carmen, and Tulum. Buyers should ensure that purchase-sale contracts are registered with the Federal Consumer Prosecutor's Office (Profeco) to guarantee they are buying from a reputable developer. He warned that many current developments are not meeting this standard, posing a risk to private investors who could potentially be defrauded. He added that the AMPI is working to ensure that buyers engage registered professionals for sound advice.

The twenty-third Real Estate Forum of the AMPI Cancún will be held on October 3 at the Convention Center in the Hotel Zone. The event is expected to draw 700 participants from the private sector, including business owners, developers, lawyers, appraisers, architects, and consultants. The forum will feature international speakers to provide insights into the real estate industry and investment strategies.