Get to know the Riviera Maya! Cancun, Playa del Carmen and Tulum

Key criteria for multifamily Tulum real estate

Why Tulum checks Forbes five key criteria to evaluate when doing multifamily real estate analysis.

Investing in real estate is tremendously exciting, and can be very lucrative. Out of 2,153 world billionaires in 2018, 10% hail from the real estate industry.

“Risk comes from not knowing what you’re doing”

Warren Buffet

1.-Population and population growth:

According to studies being conducted by the COESPO (the Mexican population counsel). Tulum is the second municipality with the highest increase in population in the next five years, they estimate the population will have grown by almost 18% by 2024.

Tulum’ population is currently around 40,000 (forty thousand) inhabitants. According to the article in Forbes you want to look at places where the population is growing the ideal population is around 200,000.

Why does Tulum still represents the location for you to develop your multifamily project?

Exponential Annual population growth.

Around 50 to 60% of properties in the Riviera Maya are bought by people that are not residents, so we’d actually have to double the number of the current population to get an average of how many people own a property in Tulum currently (and that number is growing everyday).

2.-Job growth and unemployment rate:

The Riviera Maya has the lowest unemployment rate in the entire country averaging out the different municipalities the unemployment rate is between 1.6% to 2.2%.

Job growth in Tulum is between 4 to 5% annually.  Job growth translates into demand for apartments and is a leading indicator of the condition of the rental market in the area.

3.-Job diversity:

The Riviera Maya relies on tourism. Tourism is the fourth largest source of foreign exchange for the country and tourism grows in average about 5 to 7% annually.

This has generated jobs not only in the tourism industry but in business services, education, healthcare and many other sectors, of course tourism hold the predominant work market.

4.- Median Household income:

The Riviera Maya holds the fifth place in all of Mexico for best paid salaries.

“MHH is the main driver that determines whether the existing demographic will have the ability to pay rent in the long run.” – Forbes

Regardless of its national income position, the Riviera Maya real estate market has international interest.

Meaning that as long as the international interest persists, thanks to the opportunity the market represents, there will always be a demand for housing in the Riviera Maya and specially in underdeveloped areas like Tulum.

Tulum condos for sale

tulum condos for sale

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