Introduction to Cancún’s Thriving Real Estate Market
Cancún, QROO – The real estate sector continues to attract massive investments in Cancún, with approximately 1,000 projects currently active across the state. Among these, at least 200 are located in Cancún itself.
Recent Project: Aurora Towers
One of the latest projects is a complex of four 20-story towers, representing an investment of 2.261 billion pesos. The Aurora Towers project is planned for Luis Donaldo Colosio avenue, supermanzana 295, manzana 19, lot 02, developed by Desarrollo Laguna Aurora SA de CV. The company has initiated the environmental authorization process with the Secretariat of Environment and Natural Resources (Semarnat).
Project Details
The towers will feature one-to-three bedroom apartments with panoramic views of the Nichupté Lagoon and Cancún’s hotel zone. Amenities will include a gym, spa, bowling alley, virtual golf, swimming pools, a kids’ area, water mirror, and cycling path.
Cancún’s Appeal to Investors
According to the promoting firm, Cancún has established itself as an attractive destination for real estate investment, with a constantly growing market. The demand for both residential and vacation properties has fueled the development of numerous housing projects.
“Cancún’s connectivity through the International Cancún Airport, the Tren Maya, and improved transportation infrastructure strengthens its appeal as an investment destination. Moreover, the growth in service offerings and interest in sustainable tourism create a favorable environment for residential projects that integrate tourism and wellness experiences,” states the Environmental Impact Manifestation awaiting Semarnat approval.
Real Estate Market Trends in Quintana Roo
According to the Association of Real Estate Developers in Quintana Roo, property values in the mid-range and luxury segments in the northern part of the state have seen an annual increase of 12% in Cancún, 17% in Puerto Morelos, and 15% in Playa del Carmen.
Contrasting Tulum’s Situation
In contrast, Tulum is experiencing the effects of oversupply in the housing market.
Current Real Estate Projects in Quintana Roo
There are currently 988 active real estate projects concentrated mainly in the northern part of Quintana Roo, reflecting high demand for properties valued above 14 million pesos. The primary buyers are Mexican nationals.
These projects generate approximately 142,000 million pesos annually, mainly in the northern region of Quintana Roo, including Cozumel. They comprise around 30,000 units under construction.
Cancún’s Continued Growth
Currently, there are 220 housing projects (medium and residential) in Cancún with average prices of 70,000 pesos per square meter. This demonstrates Cancún’s ongoing growth not just in the hotel sector, but also as a desirable place for people to live.
Key Questions and Answers
- What is the Aurora Towers project? It’s a 2.261 billion peso condominium project in Cancún, consisting of four 20-story towers with apartments offering views of Nichupté Lagoon and the hotel zone.
- Who is developing Aurora Towers? The project is being developed by Desarrollo Laguna Aurora SA de CV.
- What amenities will the towers offer? Amenities include a gym, spa, bowling alley, virtual golf, swimming pools, kids’ area, water mirror, and cycling path.
- Why is Cancún attractive to real estate investors? Cancún’s connectivity, growing market, and demand for both residential and vacation properties make it an appealing investment destination.
- What are the real estate market trends in Quintana Roo? Property values in mid-range and luxury segments have seen annual increases of 12% in Cancún, 17% in Puerto Morelos, and 15% in Playa del Carmen.
- How does Tulum’s real estate market compare to Cancún’s? While Cancún experiences growth, Tulum faces challenges due to oversupply in the housing market.
