By: Hannah Vernon
Tulum has quickly become one of the world’s most popular tourist destinations, so it is no wonder that it’s also one of the most sought after places to invest in real estate this year. But what is the Tulum real estate forecast for 2023?
Magnificent archaeological treasures, endless natural beauty, and a rich cultural heritage make Tulum one of the Riviera Maya’s most sublime places to live.
In the past two decades, Tulum has seen a huge amount of residential development, which has largely been fueled by the demand from ex-pats in the US, Europe, and Canada, in addition to Mexicans looking to purchase a second home. A magnet for property investors, Tulum real estate offers a safe and lucrative opportunity for investment.
From 2015 to 2019, Mexico’s vacation rental market grew by a jaw-dropping 3,165%. In addition, Tulum saw an increase in vacation rentals of 66.2% in just one year (2020-21). Naturally, this led to record levels in vacation rental spend. Over the last few years, real estate in Tulum has seen an incredible return on investment, averaging at around 8-14%, making the area one of Mexico’s most profitable real estate markets. Mexico also benefits from low property taxes, making the location even more attractive to investors.
As for 2023, visiting Tulum and the Riviera Maya is going to be much easier with the addition of a new airport in Tulum, which, according to President Lopez Obrador, is projected to open next year. Furthermore, a new high-speed train (the Tren Maya), which will connect Cancun with Tulum, is expected to be operational by the end of 2023 and set to increase tourism by 300% upon its completion. This is forecasted to drive even more money and demand for accommodation in Tulum—including luxury vacation rentals—which will further increase your ROI.
Not only has Tulum become an exclusive spot for celebrities and influencers alike for its eco-chic lifestyle, pristine natural environment, and emphasis on sustainability, but it also offers a melting pot of cultures from around the world. You will notice unique influences from several continents which results in an eclectic yet glamorous ambience, mixed with Tulum’s ancient Mayan heritage and breath-taking natural beauty.
Tulum’s accelerated growth in tourism and real estate investment has resulted in an influx of attractive amenities being built along the coast, including restaurants, spas and beach clubs, in addition to improved infrastructure and services in and around the city.
For these reasons, the Tulum real estate forecast for 2023 is characterised by exponential growth throughout the year and right into the next decade—making now the perfect time to invest. Whether you’re looking to acquire a luxurious property by the sea or in the vibrant city center, there are plenty of options for you to choose from.