Why Buying Vacation Rental Property in Tulum is the Best Investment Now
In 2019 the Mexico Vacation Rental market was 3.5 billion in yearly volume. Mexico’s top-performing state being Quintana Roo having a yearly volume of 384,650,100 USD in 2019.
Easily bringing in more revenue than other states such as Baja California Sur, Nayarit, and Jalisco. And more than double the revenue of Mexico city.
Quintana Roo’s vacation rental market has skyrocketed. However, many predicted the Mexico vacation rental market would decline due to the COVID-19 pandemic.
But this was not the case at all.
Quintana Roo Vacation Rental Market grew by 50.39 in the last 2 years (through the pandemic)
Explosive growth has happened in Mexico’s biggest Vacation Rental Market of Quintana Roo with a growth of 50.39% from 2019 to 2021.
During the pandemic, the Quintana Roo Vacation Rental Market revenue grew by $193,827,100 USD to over half-billion USD per year (a total of $578,477,200).
And there was one outstanding market within the Quintana Roo state that saw the most growth in this period.
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.
A huge increase in revenue for vacation rental owners in Tulum has shown the real pull Tulum has in the vacation rental market.
The number of listings in Tulum has grown by 44.13% in 1 year. From 4,201 vacation rental listings to 6,055. On April 2021 the average occupy rate for the Tulum vacation rental market was 80%.
However, tourism in Quintana Roo is about to triple in 2023. And it’s likely Tulum is not quite ready.
The Maya Train is expected to Triple Tourism in Quintana Roo in 2023.
UNWTO secretary-general David Scowsill, the federal government’s signature infrastructure project, will double or even triple visitor numbers to Mexico’s southeast of Quintana Roo Mexico.
Quintana Roo is well-positioned to attract international visitors thanks to the Maya Train, which will boost tourism revenues, vacation home rentals, the already booming Tulum Real estate market, and employment in the region.
Tulum’s vacation rental market needs to expand rapidly to cater to this expected growth in 2023.
From 2021 to 2023 Tulum Vacation Rental Market Will Need to Grow 104.01%
If growth is triple due to the operation of the Mayan train in 2023 then Tulum will need even more rapid growth.
In this case, Tulum could expect to grow its vacation rental revenue by another $184,474,800 from 2021 to 2023.
There will need to be over 18,000 vacation rental listings on the market in 2023 to keep up with demand.
Currently, the number of vacation rentals on the Tulum market is at 6,055 listings.
It is likely that there will be a shortage of Tulum vacation rentals on the market in 2023.
This is likely to raise Tulum vacation rental revenues even further as vacation rental owners can ask for a higher per night rate.
The Golden period for Tulum vacation Rental Owners is happening now & beyond 2023
The best time to buy a vacation rental is when supply and demand are steady which is right now. As soon as the Mayan train is in service and Tulum begins to rapidly experience its huge growth in vacation rental demand in 2023 – it will be more expensive to buy.
The smarter investor will look to buy multiple units, and real estate developer will look to try to keep up with the demand, while rental prices steadily increase which reflect on an increase in Tulum property prices.
We will continue to see mainly 1 to 2 bedroom vacation rental units be the most desired. 72% of vacation rentals are 1 to 2 bedrooms on the market in 2021.
In 2021 the average rental size is 1.8 Bedrooms / 4.9 Guests on average for Tulum.
If you are thinking about capitalizing on Tulum real estate and vacation rental market then now is the time.
To take full advantage contact our real estate agents in Tulum. Click here to contact a Tulum real estate agents in Tulum. They are experts on the Tulum vacation rental market and can start showing you the best Tulum vacation rentals on the market.
Click any of the links below to get Tulum Real Estate listings:
Read more helpful articles below: