New Airport in Riviera Maya, Mexico

[Jaden Ghylin]

I'm just beginning research on real estate in Mexico and came across this article about a new airport being constructed in Riviera Maya, Mexico. http://www.internationalliving.com/Publications/il-news/03-29-Riviera-Maya-airport

This would be a game changer for real estate in the area. With the economic downturn and fear of Mexico, now might be a good time to get into the real estate market down there through vacation rentals, etc. Mexico also seems like it will benefit greatly from Boomers retiring and spending a considerable amount of time down there to conserverve sparse retirment funds.

What are your thoughts about investing in Mexico and more specifically in the Riviera Maya region?
-Jaden

[Rich Weese]

Jaden, I have a few condos in the best location on Cancun. The Riviera Maya has boomed in the last 10 years. It doesn't surprise me they need an airport. Cancun airport has expanded 5 times in the 35 years I've been an owner there.
Lots of horror stories about clear title on raw land. The second problem is vandalism if you're not in a development with good security.
My bookings have NEVER been so low as now. Three strikes against it
1. H1N1 flu was scary
2. Drug problems in other areas of Mexico
3. Economies here and there
I own mine free and clear so little expense. However, new monster buildings like Bay View Grand and Porto Fino have caused a surplus of rentals and owners there are having trouble paying mortgage and HOA fees.
I love the area, but not for rookies, imo. Rich--headed for Cancun next tuesday.