On the luxury real estate side of our online magazine, we’ve covered Mexico more than any other country and are returning to the Caribbean side for the third time. There’s a simple reason for both of these facts: Mexico is the most popular real estate investment country for Americans and Canadians and the Cancun/Riviera Maya region is the most popular area in all of Latin America when it comes to the number of vacationers landing there each year.
Even if only a tiny fraction of those visitors get tempted to buy property, that’s still a fraction of the 13 million people who came through Cancun’s airport last year. If I’m not mistaken, that’s several times more visitors than any other country in Latin America receives per year. To put it in perspective, about six times what Costa Rica receives.
Not all of those people who decide to buy their piece of paradise are luxury buyers, but those who do have plenty of money to spend are not spoiled for choice. High-rise condos, airy indoor-outdoor villas, American-style grand homes on golf courses, or eco-friendly bungalows surrounded by vegetation are all on the block here. The depth of choices might surprise you and since the real estate collapse to the north a few years ago, prices that were already reasonable by U.S. standards have dropped a bit (but are reversing direction now…) What you get for your money on this side of Mexico is generally more than you’ll get on the west coast in the hot tourism areas. Call it the “Silicon Valley Effect” or the “California Real Estate Boom Effect.” The Caribbean coast just never hit the same bubble level as the Pacific coast, so in many ways the market here is healthier.
Our latest story runs down some options, with details and pricing, on places stretching along the coast. See our full story on luxury real estate in Cancun, Cozumel, and the Riviera Maya.