AVINTU INTERNATIONAL

MEXICO | RIVIERA MAYA

Year-round beach vacation destination. Developed infrastructure. Rich history and culture.

Riviera Maya is a coastal strip at the Caribbean Sea, which stretches for 120 kilometers to the south from Cancun - the world-famous resort town. Thanks to its tropical climate and warm sea, the Riviera Maya offers year-round beach vacation. It is a Mecca for diving enthusiasts thanks to the coral reef located along the shore. There is a pristine nature reserve for the lovers of ecological tourism as well. Tourists are also attracted by the rich heritage of the ancient Mayan civilization, by the culture and architecture of the colonial era, and by the theme parks.

The cost of Real Estate in Riviera Maya

HOTELS | from $500,000 USD
An 8-10 beds small hotel located deeper in the jungles can cost on average $650,000 - $850,000 USD. An ecological resort right on the beach for 10-15 houses near Tulum would cost around $1,500,000 USD.

VILLAS | from $650,000 USD
The prices for small 4-bedroom villas operated as B&B would start from $650,000 USD. Such B&B can be found in popular coastal towns like Puerto Aventuras, Akumal. However, larger villas with 8-10 guest rooms could cost from $1,200,000 USD and up.

APARTMENTS AND HOUSES | from $75,000 USD
One-bedroom apartments in condominiums closer to the sea with the living area about 40 sq.m. are starting at $75,000 USD. For $ 85,000 USD you can buy a two-bedroom apartment 80 sq.m. in Playa del Carmen (the main city of the Riviera Maya). And 2-3 bedrooms detached houses in gated communities with 150-200 sq.m. of living space can cost around $200,000 - $250,000 USD and more.

Properties to Buy in Riviera Maya

There are certain types of real estate in the Mayan Riviera that are most suitable for purchasing by international buyers, such as:

- apartments in condominiums located in gated communities. Usually these condominium complexes comprise 3-4-storey buildings and all required infrastructure including swimming pools and gardens. Almost every residential complex in the Riviera Maya has access to a sandy beach. Apartments are rented year-round with no seasonal interruptions.

- small resorts and hotels that have good potentials for further development due to enormous popularity of the Yucatan Peninsula for tourism. Usually such small resorts are located on the beach and are intended for the lovers of scuba diving and eco-tourism. Recently there has been an active development of a network of small resorts deeper in the jungles focusing on the theme tourism.

Climate in Riviera Maya

The average annual temperature in this region is 24°C - 25°C. In summer (from May to September) the daily temperature averages at 32°C, while in winter the daily temperature can be around 27°C. The coastal waters warm up to 26°C in winter and up to 29°C during summer time. August is usually the hottest month.

Although the Caribbean is known for its frequent hurricanes and tropical storms, they usually pass by the Riviera Maya. The raining season happens mainly in summer (from May to August), but the rains are not that often and they come and go very quickly.

Visas and Residency

As tourism is one of the major sources of income for Mexico, the country is focused on welcoming foreign visitors and has a fairly simple and affordable immigration program. A standard visitor visa to Mexico - Visitante - allows you to stay in the country for up to 6 months. This visa is issued upon arrival in the country. For citizens of those countries that have an agreement with Mexico on visa-free exchange, an entry visa is granted automatically.

If you want to stay in Mexico for more than 6 months you need to apply for a temporary residence visa - Visa de Residencia Temporal. It allows staying in the country for up to 4 years. Normally this visa is issued for a year, and then you can extend it.

In order to obtain a temporary resident visa, you need to provide a proof of funds. This can be done in the form of showing funds on your bank account, or confirming that you have a sufficient monthly income, or by buying a real estate in Mexico that has value of at least about $210,000 USD.

After living in the country for 4 years, you can obtain a permanent residence permit - Visa de Residente Permanente.

Purchase of Real Estate by Foreigners

Under Mexican law, any foreigner has the right to buy, own, use and sell land and buildings. However, there are certain limitations.

In particular, foreigners are prohibited from buying real estate on their own name in the 50-kilometer coastal zone. In such cases the purchase can be done through a land trust created by an authorized Mexican bank - Fideicomiso. The buyer would still be a full owner of the property, even though it will be registered to the land trust.

Another way of buying such property, located in the 50-kilometer coastal zone, is by registering it to a Mexican company owned by a foreigner. However, this scheme has several disadvantages and is less popular.