"A Gold Rush" - Travel & Leisure
Despite hyped-headlines and the barrage of “salesy” articles and press releases that are currently flying around the blogosphere, the sleepy town of Tulum on Mexico’s Caribbean coast could make quite a few people very, very rich.
Only a few years ago, you could purchase a piece of this sacred strip of Mayan beach and jungle for peanuts (one fifth) compared to what it would cost you now, and this upward spiral is only in its infancy. Why the stunning growth? It appears the perfect (real estate) storm has precipitated for this pristine Mayan Eden.
In the flash of a couple of years, Tulum has been proclaimed to have “The World’s Best Beaches” by Condé Nast Traveler, said to be the next “Yoga Tourist Hotspot” by The New York Times, “A Gold Rush” by Travel and Leisure, and the “Hottest Section in Mexico” by the Wall St. Journal.
All this plus, a few months ago, Felipe Calderon, the president of Mexico, held a press conference in Tulum announcing that this low-key city of 35,000 inhabitants was getting a new international airport that will soon see incoming traffic of 3 million new tourists each year. To give this some perspective, currently Tulum has one red light, one grocery store, two small banks, and less than 3,500 hotel rooms. One can only fathom the economic growth that is about to descend on this sleepy place.
That being said, much of the world is unaware of the stunning opportunity of Tulum. Although this region is about to receive millions more in tourists than it can handle, the market has yet to truly comprehend the value and impact of such exponential growth. Given the math, much of the land here remains undervalued and deals abound. There are many off-market opportunities still within reach such as raw jungle land just minutes from world class, white-sand beaches.
All these incoming tourists will want to stay near the beach, yet Tulum is surrounded by the sacred Tulum Ruins on one side and the internationally protected biosphere on the other, significantly limiting the amount of land that can be developed. Those who get in now, while the real estate prices are reasonably low, stand to benefit from buying, holding and selling highly desirable property when short-term rental developers, willing to pay premium prices, come looking.
No wonder there is so much buzz around Tulum, but this could be one of those rare cases where reality may actually exceed expectation. One things for sure, hype or no hype, it appears inevitable that the town of Tulum is about to explode and those fortunate enough to get in the game now may have every reason to think that they will get rich.
by Michael Zenn