Peso falls again after the U.S. election - and foreign buyers flock to the Riviera Maya


 

Condo Project in Tulum by Riviera Maya Property Consultants
 

According to a recent article by Financial Times, real estate prices in the Riviera Maya have gone up by a third in the past five years. This is mostly due to foreign buyers, who are in love with this fascinating Mexican region, located along the crystal clear waters of the Caribbean Sea.

In general, Mexico is considered to be one of the ten fastest growing real estate markets in the world.

When it comes to foreign buyers, they are encouraged by a few factors: the peso has lost half of its value against the American dollar in the past five years, and continues to fall. It might turn to be one of the worst performing currencies of the emerging markets in 2016. The latest fall of the peso in influenced by the U.S. election and the president-elect’s proposal “to build a wall” with Mexico and possibly withdraw from NAFTA, the North American Free Trade Agreement.

Another draw for foreign investors is a year-round perfect climate, with temperatures averaging from 28°C (82°F) in June and 23°C (73°F) in January. So if a foreign buyer invests in a house or an apartment, they can be sure it will be rented year round, averaging in 10-20 percent in annual returns from rentals.

Tulum real estate is perhaps the fastest-growing in the whole Riviera Maya – therefore, also in the world. A bohemian-chic destination, Tulum is praised for its gourmet food restaurants, beach yoga, Spas, native-style temazcal sweat lodges, cabana-style accommodations along the beach, and beach fashion.

Another great thing about Tulum are its low-rise developments, and willingness of local architects to preserve Mayan culture and maintain eco-green mentality when building new condos or houses.

We at Riviera Maya Property Consultants are experienced local architects, developers, builders and real estate agents. Take a look at our projects, and contact us anytime.

 

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