Quintana Roo is the eighth most expensive real estate site in Mexico, with an average price of 3.2 million pesos (165,632 USD*) throughout the state, as indicated in the Real Estate Market White Paper 2018 of the most important real estate portal in emerging markets Lamudi.com.mx.
In turn, its main tourist area, which has approximately 1.5 million inhabitants, showed a growth of the Cancun real estate market value of 13% in the last year, with an average price of 4.6 million pesos (238,095 USD*).
This city is characterized mainly by being the main port of entry for tourism along the country, for its beaches with transparent waters, the wide variety of all-inclusive resorts, its nightlife and the magic of being close to the most important temples which belonged to the Mayan empire.
Another attraction when investing in Cancun real estate, is its proximity to other points of great importance for the tourist influx of the region. 50 minutes away is Playa del Carmen by car, about 30 minutes away is Isla Mujeres taking the ferry, where every year (may-september) you can see and swim beside whale sharks.
On the other hand, to get to the island of Cozumel you must drive to Playa del Carmen and from there take a ferry for about 45 minutes (average). The island is recognized worldwide as one of the best places to scuba dive in the world, because it belongs to the Mesoamerican Reef (the second largest barrier reef on the planet).
Everything is about supply and demand
According to data extracted from the Real Estate Report of Quintana Roo 2018, people are interested in houses with a price lower than 2 million pesos (103,520 USD*) with 49%, while in the apartments market the percentages are divided evenly among properties less than 2 million pesos (mentioned above) with a participation of 39% and another 35% with a price above 4 million pesos (207,040 USD*).
Besides that, the variation between the price of a house against an apartment is not far away. For example, the average price of a house is 4.7 million pesos (243,271 USD*), while an apartment can cost up to 4.5 million pesos (234,375 USD*).
Talking about Cancun real estate for rent, you may find a house from 13,500 pesos (699 USD*) with 150 m2 to 150 thousand monthly (7,764 USD*) with a surface of 400 square meters and three bedrooms. Otherwise, the top price of an apartment can reach up to 85,000 pesos (4,400 USD*) and the lowest price are around 14,000 (725 USD*).
Gastronomy and entertainment
No matter if you decide to buy or rent, in any scenario you will find street food in different corners of each neighborhood. One example are: Marquesitas (a dessert filled with Dutch cheese (type of maasdam cheese), which has now undergone some modifications, because some peddlers add nutella, cajeta or jam of different flavors.
Other options are: “Tamales rellenos” (a dish prepared of corn and stuffed with the meat of the pork and hot sauce) or Tikin Xic fish which is grilled on the coals and marinated with sour orange, purple onion, tomato, chili and achiote. There are lots of regional dishes to delight your taste.
Nightlife is a most. There are many nightclubs (Mandala, Coco Bongo, The City, Dady O) and bars and pübs such as McCarthy’s, James or Mezzkala. Some shows (Cirque Du Soleil) will awake your senses and restaurants like Lorenzillo’s or Trattoria Limoncello will add tons of flavor to your weekends.
*Banxico.org.mx – $19.32 MXN/USD (03/14/2019)
