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Updated 14 days ago, 12/11/2024

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18
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10
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Val Berechet
10
Votes |
18
Posts

Is it still a good idea to invest in Tulum, Mexico?

Val Berechet
Posted

My wive and I were in Tulum for the second time in about a month's time and love the whole Riviera Maya.
So much so that we are thinking about buying an investment condo in a new development that just blew our mind. The development is the Solemn Ocean Living and we are considering a top floor unit with ocean views (development is 1640 ft from the coast)

We were super excited the past two days about it...then got home and I started researching if its actually a good idea and if its a good investment.

The concern is the rapidly rising crime in the area. Up until about 3 yars ago, it seems Tulum was a quiet coastal town, but its grown immensely in tourist and that has attracted the cartels and hence the crime.
Seems though this is a concern throughout Mexico...so is Mexico just a bad idea altogether for vacationing/investing?

We are also wary of putting so much money as a down payment on a development that isn’t even scheduled to start construction until Dec/Jan. The developer is offering a 20% discount if an 80% down payment is made. 

We love the fact that there is a direct flight to Cancun from Phoenix (then about a 1:30 drive to Tulum) and the jungle setting up against the beach is amazing. The food is outstanding as is the whole vibe of the area. 

I’ve also read Mexico is also currently building a new train system, scheduled to open in 2023 that links Cancun and Tulum (and other cities) as well as the new Tulum International Airport also scheduled to open in 2023 from what Ive read...so tourism to the area is expected to explode even more, which obviously from a rental investment perspective would be great...unless of course people are scared to go there.

Additionally, can anyone provide any input on the developer? They seem to have several projects in the works but I think only one is near completion and the developer (Akela Development Group) is a very new company. 

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