Overview of the Vacation Rental Market in Mexico’s Caribbean
According to data from 4S Real Estate, the Cancún-Riviera Maya corridor boasts an impressive 17,275 vacation rental listings with active ads on Airbnb alone. This figure does not include other platforms like Homeaway or Hometogo.
Arturo Garcidueñas’ Insights
Arturo Garcidueñas, a partner at 4S Real Estate, shared these insights during the webinar “Panorama Inmobiliario México 2025 Edition Playas.” He highlighted the exponential growth in vacation rental units across Cancún, Playa del Carmen, and Tulum through platforms like Airbnb. However, this oversupply is driving down the average nightly rates for vacation rentals in these areas compared to Los Cabos and Puerto Vallarta.
Average Nightly Rates
- Cancún: $146 per night
- Playa del Carmen: $141 per night
- Tulum: $165 per night
In contrast, Puerto Vallarta has 15,787 units with an average nightly rate of $327. Los Cabos, with only 3,957 units, has an average nightly rate of $295.
Additional Data from STARC
The Advanced Tourism Sustainability Research Center (STARC) at the Anáhuac University in Cancún reported that, by the first quarter of 2025, there were 83,244 vacation rental properties across the state. However, only 24,582 of these reported at least one rental in the first four months of the year.
This means that the actual vacation rental offer in Mexico’s Caribbean quintuples Puerto Vallarta’s and is 21 times greater than Los Cabos, which could explain why nightly rates in Cancún or Playa del Carmen are less than half those of other beach destinations.
High-End Hotel Brands Enter the Market
The oversupply of real estate in the Cancún-Riviera Maya corridor is also attracting high-end projects backed by prestigious hotel brands targeting the luxury or residential plus segments with prices exceeding 15 million pesos per unit.
- The Ritz Carlton Residences
- JW Marriott Costa Mujeres
- The St. Regis Costa Mujeres
- Sha Residences
- Faena District Tulum
- Thompson Private Residences Puerto Cancún
These six products account for 416 luxury residential units, with construction starting in 2023 or later.
Garcidueñas’ Perspective
Garcidueñas explained that this trend of “branded” real estate developments by hotel firms is due to the strength of Mexico’s Caribbean, including its massive international tourism market of over 9 million travelers annually and recent infrastructure additions like Tulum’s airport, which now connects to 14 international and four domestic destinations in just one year.
