For those interested in a profitable destination to invest, the purchase of property in the Riviera Maya is an excellent opportunity. The Riviera Maya is a district within the Mexican state of Quintana Roo, and comprises the area south of Cancun, from Puerto Morelos to Punta Allen – just south of Tulum – including the island of Cozumel.
Here we will share the reasons why you should invest in the Riviera Maya.
Growth in tourism
This area is known for its large all-inclusive resorts and wealth of costal-based activities, such as snorkeling, jet-skiing, scuba diving, and jungle tours. In other words, these highlights are part of the reason that the area saw a 2.5% increase in tourism in the first half of 2019. In fact, tourism growth has been the trend in Mexico for more than a decade. Which means the time is right to invest in real estate. According to the United Nations World Tourism Organization (UNWTO), Mexico is the 6th most popular vacation destination on the planet!
Growth in real estate
Thanks in large part to the continued rise in tourism, as well as the geography and natural beauty, the real estate market in the Riviera Maya is growing rapidly. Mexico is one of the 10 fastest-growing property markets in the world with prices rising every year. Furthermore, the Riviera Maya as a great destination for investment provides a better return on investment than the stock market. On the other hand, as reported in the New York Times, “according to Mexico’s Federal Mortgage Society, prices in Quintana Roo were up almost 12 percent during the second quarter of 2019, compared to the same period in 2018. Prices in Mexico as a whole were up about 9 percent during that period.” You will certainly want to start shopping now to capitalize on this very rapid growth.
Friendly tax obligations and affordability
Mexico has some of the lowest property tax rates in the world. It means that when you buy an investment home here, you will be able to maximize your profit without spending a majority of it on taxes. Additionally, with the cost of living being so low, you will find individuals willing to do work on your home for a very reasonable price. It will probably be worth it to get that house with the pool! You can also rest assured that the property itself will be far more reasonably priced than you might be used to at home. Although, with prices rising every year, you will want to get into the market early.
A green destination to invest
If you are interested in environmentalism, then purchasing real estate in the Riviera Maya is a great opportunity for you, to wade into the green energy field. Moreover, there are many companies ready to help you to install solar panels and other green energy equipment in your new home. Also, you can connect your solar panels into the national energy grid. So that if you happen to overproduce energy, you will be credited the equivalent amount to your power bill, saving you even more money!
If you want to capitalize on these opportunities today, then make sure you reach out to our experts here at Top Mexico Real Estate.