“UNLOCKING MEXICO’S $7 BILLION VACATION HOME MARKET: AN INVESTOR’S GUIDE”
Looking to invest in a vacation home? Mexico is turning out to be a hotspot. Recent trends indicate that the market value of vacation homes in the country could skyrocket to an impressive $7 billion by the end of the decade. This isn’t just a random guess; it’s an estimate backed by Gene Towle, the Director of Softec, a leading real estate analytics firm.
A Snapshot of 2022
Last year, the market was already buzzing. A whopping 19,568 vacation homes were sold across Mexico’s 15 prime holiday destinations, bringing in a cumulative total of $5.5 billion in sales. That’s not small change by any means.
The Crown Jewel: Cancún and Riviera Maya
Cancún, along with its glamorous extension of the Riviera Maya and its star performers Tulum and Playa del Carmen. Out of all the vacation homes sold in 2022, 7,210 units belonged to this tropical paradise. These sales alone generated $2 billion, covering over a third of the entire market value across Mexico. If you’re considering an investment, you might want to start here.
The Heavy Hitters of 2022
It wasn’t just Cancún, Playa del Carmen and Tulum that saw bustling activity. Other leading vacation home markets last year included:
Mérida
Puerto Vallarta
Mazatlán
Tijuana
Los Cabos
San Miguel de Allende
These seven areas accounted for a staggering 90% of all vacation home sales in 2022.
More Than Just Seven
While the majority of sales were concentrated in these seven regions, other locations are also emerging as lucrative opportunities for residential development. According to Softec’s comprehensive study, eight of the fifteen surveyed vacation markets are becoming increasingly popular among domestic tourists:
Mérida
Mazatlán
San Carlos
Ixtapa
Acapulco
Veracruz
Cuernavaca
Huatulco
A Magnet for International Tourists
Let’s not forget about the international appeal. Seven markets in particular are catching the eye of travelers from across the globe:
Los Cabos
Cancún and Riviera Maya
La Paz
San Miguel de Allende
Vallarta
Tijuana and Rosarito
Puerto Peñasco
As Mexico’s vacation home market continues to thrive, both domestic and international investors are finding compelling opportunities. Whether you’re looking to buy a holiday retreat or make a savvy real estate investment, Mexico’s burgeoning market offers an exciting landscape. With a projected worth of $7 billion by 2030, now might just be the right time to stake your claim.
