The Tulum real estate market in the Riviera Maya in Mexico would make an interesting study for a real estate academic. The effect of speculation over the new Tulum airport, coupled with an overflow of massive real estate market growth from neighboring Playa del carmen, has had a remarkably positive effect, even in 2009 and the worst of the global crisis.
Despite the fact that the interest of business groups and disagreements between the State Government and Federal Government have held up the new airport project, propery prices still continue rising.
The fact that the airport - the Tulum real estate market's jewel in the crown - has seen deadline after deadline missed already, market professionals, analysts, and local business people and politicians all know it will still go ahead soon, it is just a matter of time. This means Tulum real estate prices continue to rise gradually still.
Humberto Trevino, the Mexican Secretary of Transport, is expected to announce the bidding for the airport project this year, and by the end of this month the guidelines will be published.
The new Tulum airport will be able to handle 700,000 passengers in its first year, increasing to 3 million passengers within 5 years. The first phase of construction work is expected to cost $300 million.
The Mexican government has been promoting the investment opportunity to tender for the airport around the world, including to businesses in South Korea and investors at a conference in New York.
It's hoped by many locally in the Tulum real estate area that the airport will be a major boost for the economy and lead to a major new phase in the area's development.
To find out more about what the area offers you and your clients visit the author's website for information on Tulum real estate.