What's the reason behind the increase in homes for sale in southeast Mexico?
For some years now, southeast Mexico has generated great interest among people looking to invest in a new home, especially in Merida and the Mayan Riviera. However, the pandemic unexpectedly changed social dynamics and home sales soared thanks to the advantages these areas offer. Stay here and discover the factors that have influenced and led to the increase in homes purchased in southeast Mexico.
Factor 1: Digital nomads
The Covid-19 pandemic changed the way thousands of people work around the world, as technology has allowed many different industries to embrace remote working. Consequently, many workers became digital nomads: remote employees who can work from wherever they are. This situation gave them the freedom to travel to different tourist sites in Mexico and work from there. However, many of these people, who were originally planning on staying for just a few months, eventually ended up investing in residences to formally live in these destinations.
In 2021, after worldwide mass vaccination efforts, luxury housing sales totaled more than 11 thousand units in different tourist destinations in Mexico, especially in places such as Tulum, Playa del Carmen and Cancun. By the end of 2022, sales of luxury beachfront apartments in Mexico are expected to increase by more than 32.08%, according to Softec, a company specializing in real estate consulting and research in Mexico.
Factor 2: Price
High inflation and interest rates in the United States have caused more Americans to turn to Mexico, because, according to Forbes magazine, living in any Mexican tourist destination costs a third less than it does to live in cities like New York, Los Angeles, or San Diego. Therefore, buying houses facing near the ocean and white sand in beach towns like Tulum, Playa del Carmen, and other cities is much more attractive.
Factor 3: The possibility of generating income
Investing in housing in Mexico's main tourist destinations not only allows homeowners to have a great quality of life near the beach and enjoy the tropical climate, but also to generate income thanks to the high tourist demand and the hotel occupancy rate in these areas. There are developments that offer property management and hotel management services for their apartments, so owners can reap the benefits of owning a vacation rental.
For example, if you, as the owner of an apartment in the Mayan Riviera, decide to travel for a long time, you can rent out your place and let it make you money while you're not using it. That way, part of your investment ends up paying itself.
Now that you know these factors, if you're interested in investing in a home in southeast Mexico, find out more about SIMCA Real Estate. We have more than 15 years of experience in the real estate market and offer a wide range of residential developments and luxury apartments in Yucatan and the Mayan Riviera. Take a look at our catalog and invest in a new home in southeast Mexico.
You might be interested in: SIMCA’S Top Secrets or Why We Offer the Best Real Estate Options.