Mexico’s Riviera Maya is getting its own airport. Construction companies began bidding for the contract three months ago. The resorts in this area say they already have a shortage of rentals for the current volume of tourists, so this new airport will really crank up the demand–within 10 years, this airport is expected to rival Cancun in size and destinations it accepts flights from.
Fifteen minutes away from where the new airport will be built is what I consider to be one of the world’s best resort rental opportunities today.
Right now, there is a shortage of rentals in this resort. That’s right….a shortage even before the new airport lands millions of extra visitors in the area.
The resort I’m talking about is 35 minutes from Playa del Carmen and one hour from Cancun airport. It boasts all the amenities you would expect from a major high-end resort. The water here is turquoise blue…the beaches are white-sand. This is picture perfect Caribbean. The Robert Trent Jones golf course opens later this year. It will be the best golf course along this stretch of coast.
The resort is owned by a major Spanish company. They also own Europe’s second biggest travel agency which sells and runs 2.5 million vacations every year. Their hotels along this coast have been operating at 88% occupancy for the past 10 years. The resort I’m talking about has a total of 2,700 rooms. Fortunately for us, they need 3,000. That’s the level of demand today…before the golf course opens or the airport is built.
Visitor numbers and demand have been rising along this stretch of coast. Hotel occupancy in both Cancun and the Riviera Maya is also up…hitting 89% and 90% respectively in February. Occupancy in this resort in March was 92% before falling to 5% during the flu scare. The tourism business here is robust however. Occupancy for this month and next month is projected to be in excess of 80%. This represents a full recovery and regular occupancy for this time of year. Come October occupancy is expected to hit 90%. Cruise ships are back to normal schedule, with several ships arriving daily to Cozumel and crossing to the mainland for tourism activities.
A serial developer and entrepreneur I have known for many years spotted the opportunity: A 300 unit shortage at this resort. He is building 300 condos right on the Robert Trent Jones golf course. Condos will be built to hotel specs because the resort wants to rent all these new condos for guests. You’ll be able to rent your condo to the resort for a fixed annual rent. These condos will be located a block from the new 7,600-square-meter clubhouse. Amenities here include shops, tennis courts, a spa, and restaurants overlooking the natural wells that dot the golf course. A shuttle bus takes you from here to the beach and main hotel every 10 minutes. Residents and visitors have full use of the entire resort.
Prices here start at $149,000. This includes full fit-out and furniture pack. Depending on the unit, you’ll pay $1,623 to $2,660 per square meter.
By comparison, in Playa del Carmen, 35 minutes down the coast, beachfront units cost $4,000 – $5,000 per square meter. Units back from the beach are in the $2,650 – $2,700 per square meter range. These units don’t come with the range or quality of amenities available at the Riviera Maya resort I’m talking about.
This stretch of coast is popular with vacationers from North America, Europe, Mexico and South America, so you aren’t dependent on visitors from one area. And I like the occupancy numbers.
If this is something that interests you, get a free information pack here. Once you fill out the form, the pack will be sent to you by return e-mail.
Ronan McMahon
Executive Director, Pathfinder Ltd.
P.S. I recommended this resort rental deal to members of my Real Estate Trend Alert in March…except they were able to get in for $1,530 per square meter. The remaining units are still a great deal.
