Anniversary Estate
Mexico Real Estate – Idb Celebrates Cancun's Founding & New Growth
In the Mexico Real Estate market, Cancun Real Estate is one of the main beachfront areas chosen by foreign buyers. One aspect of Cancun which is promising to bring growth to this real estate market is Cancun's recent development as an international travel and business convention hub. An upcoming example of this is the annual meeting of the Inter-American Development Bank (IDB). In addition to being a reflection of Cancun's growing role as Mexico and Latin America's prime choice for business conferences, meetings such as this are expected to bring further growth and opportunities to the market, a fact which Cancun MLS will reflect.
The more than 1,500 registered guests at the meeting of the IDB, which will meet in Cancun Convention Center, mixed with thousands of American and Canadian university students on their spring break, bring an especially large influx of visitors during the end of March – a time already marked as a high season.
Cancun's tourism industry has shown a great deal of resilience; despite a world-wide low point last year in tourism due to the recession, which hit Mexico especially hard because of the flu-related travel advisory, Cancun's tourism has shown full recovery with renewed beaches and a newly developing focus on its status as an international travel and business hub.
This strength in tourism is a positive sign for real estate buyers, reflecting a confidence which will guarantee that properties in Cancun will continue to be supported by an ever expanding urban infrastructure, with an excellent road network, stores, restaurants and many activities. Many high-quality Cancun properties are currently available, and MLS listings will continue to reflect excellent property choices.
Of the 28,500 hotel rooms, about 74% are currently occupied, according to data from the Cancun Hotel Association, a figure expected to increase during the coming days with the arrival of participants the annual IBD meeting. The IDB meeting is also only a month before the 40th anniversary of the founding of Cancun, a city built from up from zero by the Mexican government.
The meeting and the anniversary also have special significance since, as IDB President Luis Moreno observed, "the first IDB loan for tourism was granted to Cancun" during its construction where "the funds were used to build an airport, a port and the first hotels in the city."
The IDB meeting celebrates an important anniversary not only in kick-starting properties for international buyers in this area, but one of the most significant steps in the development of Mexico real estate during recent decades. The meeting also reflects Cancun's more recent, and ever growing, role of being an international convention hub – a development which promises to bring further growth to the area's real estate industry.
About the Author
Thomas Lloyd graduated from Purdue University Krannert School of Management with a degree in Management/Financial Option Investments. He has been living, investing, and working professionally in Mexico for over 15 years. A Mexican Certified Realtor he is the current president of Mexico Real Estate, you can contact him at (512) 879-6546.
Chateau Ste. Michelle and the Dr. Loosen Estate of Germany celebrate 10th Anniversary
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