I'm looking at Muuk and Solemn. They're condo/apartments with HOA as 2-3 USD per m2.
I'm dealing with Susan Rottloff and her assistant. What are the negative and positive. My wife is Mexican citizen so I hear there's some temporary financing options.
I'm thing of Airbnb, If any one has suggestion, bad or good and/or has other areas to look at. These condos were from $89k to $110k. if there's an agent or PM that you recommend please PM me.
Because of the increase in property prices in Tulum, developers have started to offer small studios for buyers with a limited budget. They are very profitable for developers to sell as the price per square foot is very high but I don't think it's a good deal for the buyer as I can't see a large rental demand for it.
Personally, I would never buy any of those as an investment. Think about it. Many visitors to Tulum live in a crammed small apartment in the likes of New York or Toronto and the last thing they want is to spend their holidays in a very small place. This is especially so in a place like Tulum where renting a 1- or 2-bedroom condo is very affordable and the visitor is rather well-to-do. You're not gonna rent a studio when you can rent a 1-bedroom for $10 more a night! And, if you don't mind being in a small place, you might rather take a hotel room and have all the services and amenities that go with it.
And your only market is the short-term vacation market as nobody is gonna live long term there. So you're missing the long-term renters, the digital nomads and the retirees. For the same reason, your only potential buyer when you want to resell will be an investor.
I wouldn't buy one of those for my own use either as I don't want to get crammed whether I live or holiday there.
As to the financing, the nationality generally doesn't matter to Mexican banks. What matters is to have income, a job and/or assets in Mexico.
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