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PROFITABILITY INDEX IN THE RIVIERA MAYA

Posted by AmorTulum on 28 de June de 2024
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Quintana Roo is not only a vacation paradise; it is also a place full of business opportunities and fun. For several decades, the Mexican Caribbean has been a magnet for both tourists and investors looking for more than sun, sand and sea.

For those considering moving or investing, it is important to consider sales and rental prices in the region. Quintana Roo stands out in the temporary lodging and restaurant services sector, representing 20.58% of the state’s economy. In 2023, the state registered a 7.9% growth in jobs before the IMSS, making it the state with the best performance.

Selling Prices

The price per square meter (m²) in Quintana Roo has remained between 54,500 and 54,800 pesos since November 2023. Benito Juarez has experienced the highest increase, with 14.66% in the last two years. Playa del Carmen and Puerto Aventuras have the most expensive square meters, with 58,452 and 58,568 pesos respectively, surpassing Tulum, where the cost is 52,222 pesos per square meter.

An average 2-bedroom, 65 sqm apartment costs around 3.5 million pesos, while a typical 3-bedroom, 100 sqm apartment is valued at approximately 5.4 million pesos.

Rental Costs

The average rent for a 1 bedroom apartment in Quintana Roo is 16,431 pesos per month. Cancun leads with a 32.4% increase in two years, while Tulum has seen a 7.63% decrease.

Profitability

The annual rent/price ratio in Quintana Roo stands at 6.77%, requiring 14.8 years of rent to repay the purchase investment, an increase of 6.9% over the previous year. Cancun offers the highest profitability with an average of 7.20%, according to Inmuebles24 experts.

Key Factors

In addition to price and profitability, there are several factors that make Quintana Roo an attractive real estate market:

  • Tourism:
    • In 2023, Quintana Roo received more than 14 million tourists, consolidating its position as one of the most visited destinations in Mexico.
    • The opening of new air routes and improved infrastructure have facilitated access and increased tourism.
  • Supply Chain Relocation:
    • The region has benefited from the relocation of supply chains, attracting foreign and domestic investment.
    • Tax incentive policies and the creation of industrial parks have boosted the arrival of new companies.
  • Quality of Life:
    • Quintana Roo offers a high quality of life, with excellent educational, health and entertainment services.
    • Security and cultural offerings are also factors that attract new residents and investors.

Quintana Roo remains an attractive destination for both living and investment, with a dynamic real estate market that promises to continue to grow thanks to factors such as tourism and the relocation of supply chains. With a robust economy and steady demand, Mexico’s Caribbean region is consolidating its position as a key point on the country’s real estate map.

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