Buying Property in Cancun Mexico?
Great info about buying Mexican property!

Whenever you mention Mexico, one of the first places that springs to mind is Cancun. This is hardly surprising, as Cancun has grown over the last few years and is now recognised as a power to be reckoned with in the global marketplace. Cancun has enjoyed considerable investment from a range of sources, including industry and tourism.

As one of the leading cities in Mexico, it is unsurprising that there are plenty of people considering investing in Cancun property. Cancun has also attracted plenty of investors over recent years as, unlike the more remote parts of Mexico, it has a well-developed transport and communications structure, making property in this city less of a perceived risk than other more remote areas.

There is no denying Cancun’s appeal to both tourists and property investors. This region is the place to be for those looking for state of the art facilities and some of the most dynamic nightlife in the country. As well as the modern facilities, there are some stunning beaches that boast unrivalled surfing and other water sports such as sailing and scuba diving.

Buying Property in Cancun Mexico

Cancun is actually an island off the coast of Mexico. However, the substantial bridges connecting the island to the mainland mean that this island is connected at both ends and the links make the area entirely accessible to both permanent residents and tourists.

Investing in property in Cancun is relatively new, particularly as the island only really started to develop in the late 1960s, with tourism really starting to take off in the 1980s. As a tourist destination, Cancun has really boomed in the last five years, causing property prices to grow by nearly 50 percent, in some of the more popular parts of the island.

In fact, the tourist industry in Cancun has grown so rapidly that there is now a widely recognised ‘Hotel Zone’ with more than 20,000 hotel rooms, most of which are fully booked during the high season. Although hotel rooms are very popular, there is increasing demand for self-catering apartments and quality accommodation for independent travellers.

Airlines are becoming aware of the popularity of Mexico and as a result there are now plenty of flight choices for visitors, thus further increasing the popularity of self-catered properties.

Although the self-catered market has grown rapidly, it still centres largely on the beach apartments that are close to the tourist amenities. New build apartments are generally considered a good investment, with solid capital growth and an ever increasing number of tourists travelling to the region. These trends not only promise good capital growth but also strong rental yields of around 6 to 10 percent, annually.

Apartments are available from as little as 100,000 US dollars, with larger villas available for around 150,000 US dollars. There is also considerable development opportunity in and around Cancun, with land available at really reasonable prices, allowing more ambitious investors the opportunity to plan and build their own property or even apartment block!

Cancun is very much on the up and is hugely attractive to tourists, worldwide, making this a real property hotspot!