
The
Mexican Caribbean has seen explosive growth
in the last fifteen years.
At present, direct flights from the U.S., Canada, and Europe and South
American account for the nearly threefold increase in the number
of flights landing annually in Cancun since 1990. A massive airport
expansion project is currently underway in Cancun with expectations
of doubling the present capacity.
As
a result of the popularity and growth of this area recently renamed
the 'Riviera Maya,' real estate prices have risen dramatically.
The
land shortage and high land costs in Cancun and Playa del Carmen have
prompted developers, hotel chains, and private individuals in search
of quieter environments to begin looking to areas such as Puerto Morelos.
Some large-scale development is already beginning in the Puerto Morelos
area.
Further,
the zoning requirements in this area are beginning to change, favoring
small development projects. Initially, mid-sized lots had a 15 unit
per hectare density limit. Now the limit is has been raised to 50 units
per hectare just north of Puerto Morelos. Yet, these density changes
are tempered by newly enacted environmental laws, written specifically
to protect the local reef (recently designated a national park), and
to ensure well-planned, high quality residential and commercial development.
The
creation of the world-class destination "The Mayan Riviera" has
been a brilliantly conceived, well-planned and executed vision. Tourism
statistics and land value increases in both Cancun and Playa del Carmen
over the last ten years demonstrate the success of the undertaking,
as well as illustrate the financial potential of this region.
Properties in pristine tropical areas of the world have long
been a pursuit of those individuals with the financial resources to
afford second houses or vacation villas. Areas once popular such as
the Caribbean islands, Hawaii, and the Mediterranean have become over-developed
and extremely expensive. Puerto Morelos offers an attractive alternative
with comparable allure, and investment opportunities
in this area are indeed enticing.