Monday, March 29, 2010
Dear Reader,
Greetings from Tulum on Mexico’s Riviera Maya. The coastline here is a series of crescent-shaped white sand beaches, lapped gently by the turquoise Caribbean. The jungle interior reveals Mayan ruins and exotic wildlife, and the world’s second-longest coral reef—which has attracted divers, snorkelers, and eco-tourists for years—hugs the coastline.
The Riviera Maya, which runs from Playa del Carmen to Tulum, is close enough (100km) to Cancun’s international airport… but far removed from the jaded over-development that has marred Cancun.
Today, the sky is blue. The sand is white. The weather…just perfect.
The proximity to Cancun’s international airport means that Tulum is already relatively accessible. This area has become increasingly popular in recent years with second-home buyers looking to escape Cancun’s crowds. Now, it’s set to explode.
I’ve been on vacation here for the past week. What a week to visit. This was a big week for Tulum and the Riviera Maya. There was big news for folks who have invested here.
Last year, Mexico’s Riviera Maya greeted 2.9 million visitors. That’s a big number. A government plan calls for this number to increase to 18 million by 2025. An increase like this means a major infrastructure investment. Mexico’s president Felipe Calderon was here in Tulum last Monday. Accompanied by his minister for tourism and infrastructure, he officially kick-started the Tulum airport project. The president told a gathering of press and dignitaries that construction contracts would be awarded by the end of the year with construction to begin shortly afterwards. The 1500-hectare site (just outside Tulum) is “ready to go”. Once open, the airport will accommodate three million visitors.
An infrastructure project like this that improves accessibility will increase desirability. I believe Tulum will explode. Tulum today is where Playa del Carmen was 10 years ago. Today, in Playa, a 1000 square-foot condo on the beach will set you back up to $600,000.
Tulum has always been a “boutique” destination. Restriction on development and lessons learned the hard way in Cancun will keep it that way. The presence of national parks like Sian Ka’an biosphere means limited developable lands. That means buyers and renters chasing limited inventory. Just the type of conditions I look for when investing.
This isn’t just good news for Tulum, of course. The new airport will open up the entire stretch of coast, right to the border with Belize.
Stay tuned for more reports from the Riviera Maya.
Ronan McMahon
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