The three best tourist destinations in Mexico to invest in real estate
Recently Miguel Torruco Marqués, Secretary of Tourism in Mexico, announced that from January to August 2019 29.8 million tourists from abroad arrived in the country, which meant an increase of 7.6 compared to last year which meant an expense of 17,150 billion dollars, 12.3 percent higher than 2018.
Taking into account this scenario, experts from Lamudi.com.mx have announced the advantages of investing in properties that are located in tourist areas, since the Return on Investment (ROI) can be quite generous.
Currently, investors from around the world are turning to Mexico to place their money in properties located in some of the most popular tourist destinations in the country.
According to the World Tourism Organization (WTO), Mexico is the sixth country in the world most visited by foreign tourists, with more than 39 million tourists a year and according to data from the National Statistical Information System of the Tourism Sector of Mexico direct foreign investment for tourism amounts to $21,058 billion dollars in the last 20 years, representing an average of 3.7% of money invested in the country.
However, while in 1999 investment in tourism by foreigners represented 5.8% of every dollar that entered the country, today the percentage has been reduced to 2.8%. Among other things, this means that more and more is being built in the tourism sector with capital from national investors.
Of this amount, 60.9% went to the construction of apartments and houses furnished with hotel services (such as rentals and timeshares) and 24.7% in hotels with services integrated to other areas of the tourism sector.
Where to invest in real estate in the tourism sector?
Whether for personal use or as a business, more and more people decide to invest in one of these three cities that concentrate the largest supply of real estate for sale online, according to statistics from Lamudi:
The "White City" concentrates 39% of the offers of sale of tourist real estate. It's all because real estate developers bet a few years ago in the second safest city in America.
This, according to the ranking created by CEOWorld magazine, which ranks the Yucatan capital only below Quebec, Canada, and in 21st place of the best cities to live in the world.
Another advantage of Merida is its variety of real estate options. There are exclusive residential areas such as the Yucatan Country Club, as well as neighborhoods with affordable housing such as Caucel.
This destination in the state of Quintana Roo concentrates 14% of the tourist condominiums for sale in Mexico. As for the value of the square meter, the price of houses for sale grew 3% in 2018, standing at 15,800 pesos.
For its part, the departments (which represent 67% of the city's real estate supply) had an increase of 4% in the same period, with a figure at the end of 29,400 pesos per square meter, according to figures from the Residential Real Estate Report of Quintana Roo 2018-Lamudi Mexico.
The expansion of residential areas and hotels keep Acapulco in the top 3 cities with the largest real estate offer with a tourist perspective. 12% of the properties sold for this purpose are in this port.
Tourism is an area of opportunity for both domestic and foreign investors. If you are thinking of buying a rest house or buying a property to rent to tourism, these three cities are the option.