A Beach Resort That Tops our List
Dear Reader,
Mexico's Riviera Maya runs south of Cancun to Tulum. It's postcard-perfect...a series of crescent-shaped powder sand beaches, lapped gently by the turquoise Caribbean. The rich jungle interior reveals Mayan ruins and exotic wildlife. Offshore, the world's second-longest coral reef, teeming with brightly-colored tropical fish, hugs the coastline. This area is increasingly popular with second-home buyers looking to escape Cancun's crowds.
Playa del Carmen, the jewel in the Riviera Maya, was a small village, with packed sand streets. In the last 10 years, it rapidly shed those fishing village roots, becoming a hip beach town. The streets are paved or cobbled now, and the stores more up market. The main street, 5th Avenue, is a cool place to hang out in the evenings. The restaurants and cafes serve everything from traditional Mexican to Thai food. The shops sell a mix of luxury goods, handcrafts, jewelry and textiles.
In March, the Mexican president launched plans for a new international airport in the Riviera Maya, close to Tulum. Construction on the airport should start next year. The Riviera Maya's close proximity to Cancun's international airport, on good paved roads, means it's very accessible already. However, the new airport will bring 3 million tourists directly to this area. Better yet, the site for the new airport is only 15 minutes from our favorite resort rental opportunity.
A Real Estate Opportunity You Won't Want to Miss
Gran Bahia Principe is located in the heart of the Riviera Maya. It boasts all the amenities you would expect from a quality beach resort. There's a 27-hole Robert Trent Jones golf course, the finest golf course along this stretch of the Riviera Maya, which opened late last year. You have a choice of restaurants, shopping, swimming pools, tennis courts, and a spa. A shuttle bus every ten minutes whisks guests between the golf course and the beach.
Gran Bahia Principe is owned by Spanish company, Grupo Pinero. They also own Europe's second biggest travel agency Soltour, which sells and runs 2.5 million vacations every year. Grupo Pinero's hotels along this stretch of coast have been operating at 88% occupancy for the past 10 years. Gran Bahia Principe has a total of 2,700 rooms. Fortunately 2,700 isn't enough. They need 3,000.
Benjamin Beja spotted this opportunity and is building 300 condos on the Robert Trent Jones golf course. His Sian Ka'an condos are being built to hotel specs, a block from the new 7,600-square-meter clubhouse. Residents and visitors have full use of the entire resort amenities...restaurants, the beach, the medical center, and the shopping market.
Prices for Sian Ka'an units run from $159,000. Each unit comes with approximately $18,000 worth of furniture and appliances. That works out a long way short of Playa del Carmen's prices--and with all the amenities of an upscale established resort. The first units are due for completion in July (the photo on the right shows the model unit).
In Playa, 35 minutes away, beachfront units can cost up to $5,000 per square meter. Units back from the beach are in the $2,700 per square meter range.
Fixed rental income
The folk at Gran Bahia Principe have agreed to lease the 300 Sian Ka'an units; owners will receive a fixed annual rent of $9,000 to $13,500 depending on the size of their unit. You won't have to take care of the expenses during the course of the lease--no maintenance, HOA, administration fees, or property tax. That gives you a net yield of around 6% depending on the unit you opt for.
Rent is paid quarterly, and is not dependant on the occupancy achieved by the operator. They assume the entire risk for filling the unit.
Try Before You Buy
Now, while this all seems tempting--gorgeous coastline, an established resort with all the amenities residents and visitors love, and a fixed rent, we always advise to buy what you see. And we understand that to be seduced by the allure of the Riviera Maya, you need to see it first-hand ...to snorkel the jewel-like coral reef...to explore the enchanting Mayan ruins...to soak up the sunshine on a wide, sandy beach.
So Benjamin is offering Sian Ka'an Discovery Weekends. The next trip runs from September 9th-12th, 2010.
Your trip includes accommodation, food, cocktail receptions, and the chance to learn more about the investment opportunity of Sian Ka'an. You'll have a whole day to relax, too, or explore the Riviera Maya.
Join us this September 9th-12th, 2010, for only $180 per person. Click here to reserve your spot.
Margaret Summerfield
Pathfinder is not responsible for the management or delivery of chill weekends. We bring these to you for informational purposes on behalf of our developer and broker partners. As with any other overseas trip, we advise that you purchase travel insurance...and we advise that if you purchase a property on a chill weekend, you should carry out your own due diligence and purchase title insurance.
