Having a hard time finding your first rental property in Mexico in 2024? You’re not alone.
Finding the right deal can be challenging, especially if you’re buying your first rental property in Mexico.
It’s common to feel overwhelmed at first with all the places you could consider as great places to buy rental property such as Cancun, Los Cabos, Tulum, or Mexico City.
Landlords, who have already invested in properties, usually know the ins and outs. But first-time landlords are sometimes turned off by unexpected expenses or obstacles to buying their first rental in Mexico.
Before you buy a rental property in Mexico, take into account the following considerations:
Short-term over long-term rental income
In Mexico, the biggest growing market is in the short-term markets is the vacation rental market. Vacation rentals are a booming market in Mexico. Infact, the vacation rental market in Mexico has grown exponentially since 2015. As seen below:
The demand for vacation rentals has grown 3,165% in just 5 years.
Between 2018 (54,224) and 2019 (79,375) the market demand grew 46%. This significant number contributes to the globally growing market of vacation rentals which is growing steadily.
The global vacation rental market size was valued at USD 87.09 billion in 2019. It’s expected to expand at a compound annual growth rate (CAGR) of 3.4% from 2020 to 2027, driven by millennials.
The global vacation rental market is expected to grow by US$62.97 billion during 2020-2024, growing at a compound annual growth rate of almost 7% during the forecast period.
Mexico’s Biggest Vacation Rental Markets
The vacation rental market in Mexico is a lucrative option for potential property investors.
Before jumping into buying a vacation rental in Mexico let’s start by looking at Mexico’s emerging markets and trends. Let’s explain the most dominant regions for vacation rental.
Mexico’s top 5 vacation rental revenue regions come from the following four states: Baja California, Nayarit/Jalisco, Mexico City, and Quintana Roo.
| Ranking by Revenue | Name of state of Mexico | Total Vacation Revenue |
| 1 | Quintana Roo | $384,650,100 |
| 2 | Jalisco | $238,255,210 |
| 3 | Baja California Sur | $236,012,290 |
| 4 | Nayarit | $178,429,120 |
| 5 | Mexico City | $142,568,790 |
Quintana Roo is Mexico’s highest-ranking state in Mexico for vacation rental revenue. Collecting almost double the amount of revenue than Mexico’s biggest city which is Mexico City.
Quintana Roo attracts vacation renters all year-round. With it’s close proximity to some of the most beautiful tropical beaches in the world. It has plenty of things to explore and warm tropical weather to enjoy all year. The best locations for vacation rentals are in Quintana Roo’s cities such as Cancun, Playa del Carmen, Cozumel, and Tulum.
New data is being shown that Cancun, Playa del Carmen, Cozumel, and Tulum contributed to an estimated $578,477,200 between 2019 to 2021 which is 50.4% during the pandemic.
Not only has the vacation rental market in Quintana Roo survived the pandemic, its thrive in it.
Tulum leads the growth in Quintana Roo with 66.22% in just 1 year.
The best vacation rental city in Quintana Roo is Tulum.
From 2020 to 2021 Tulum total vacation rental revenue has grown (From $106,705,400 to $177,361,200). That’s 66.22% in just 1 year.
Tulum is Quintana Roo’s strongest emerging vacation rental market and one of the safest to invest in now and into the future.
If you would like help finding your vacation rental in Quintana Roo Mexico then click here to chat with a real estate agent today.
Before you start searching endlessly for listings it’s better to chat to a real estate agent. You will be guided and advised on the best vacation rentals to invest in, in Quintana Roo. You will get access to the best vacation rental opportunities in Cancun, Playa del Carmen, and Tulum.
Are you looking for vacation properties in Tulum? Click below:
Get the 10 Best Tulum Vacation Homes (to Rent Out) on Sale Now
Mexico Vacation & Investment Property for Sale
10 Best Tulum Vacation Rental Condos for Sale Under $150k
10 Best Tulum Vacation Rental Condos for Sale Now Under $300k
Get the 10 Best Tulum Pre Construction Vacation rental on Presale Prices Now
View Tulum Vacation Rental Mexico Real Estate Listings
Read these helpful articles below:
Click here to read more about buying property in Mexico as a non-Mexican.
Buying a Vacation home in Tulum Mexico to Rent out
7 Ways to Finance a Vacation Home in Mexico (as a non-Mexican)
8 Reasons Why Tulum Mexico Real Estate Market Is Booming (during the Pandemic)
What Property in Mexico Appreciates in value the most?
Guide to HOA Mexico Real Estate (Homeowners Association in Mexico)
