Above: Atman Place Tulum houses are on the market for $335,800 USD
This month, the spotlight is on Mexico and Belize, where two Leading Real Estate Companies of the World® (LeadingRE) members share insights on their respective markets.
Moskito Real Estate
Playa del Carmen, Mexico
Diego García, CEO/Co-Founder
https://moskito.mx
Tell us about your company.
Our formal operations began in 2005, so we have been here from the beginning of the boom in Riviera Maya, Mexico. We serve popular locations such as Tulum, Playa del Carmen, Puerto Aventuras, Akumal and Puerto Morelos. When we set out to build Moskito Riviera Maya, we envisioned the need for a property management, vacation rentals and real estate housing industry leader, delivering world-class services to residents, property owners and investors. Since Moskito has been managing and analyzing the behavior of hundreds of properties for more than 18 years, we know them inside out, and we have valuable data regarding developers, market trends and the best players in the area. Our social responsibility is the core of our company, and our values are represented by supporting our colleagues, the most vulnerable circles of our community, and bringing that love and compassion to our business relationships.
How would you describe your current housing market?
It’s a very dynamic market, with 70% of the inventory being sold during presale. Prices are rising, with the average home being $400,000 USD.
What are some of the most important trends in your market?
Bigger spaces. The Riviera Maya Mexico used to be mainly a second-home market, but with people looking to leave the cities and live amongst nature, more people find Tulum and Playa del Carmen to be great options for living full-time. They’re looking for comfortable open spaces to connect with nature.
What advice do you have for foreign buyers interested in buying in your area?
The best real estate is the one that checks all your boxes and makes you happy. Happiness and satisfaction come with the result of making a good purchase decision. For a good purchase decision, you need the advice of an experienced local professional, accurate historical data, years of analysis and 100% transparency presented to you.
What do you love most about living in your area?
Every day I get to watch the sun rise over the ocean, run along the beach, swim in turquoise-colored waters and have breakfast and coffee in front of the ocean. I also love to spend 40% less on groceries compared to the U.S., eat food that comes directly from the crops and have dinner and a glass of wine in world-renowned restaurants.
How will being part of LeadingRE help advance your business?
LeadingRE helps us connect with other firms that share our professionalism. It’s also a window to other interesting markets and a source of qualified referred clients. It helps us stay informed about real estate trends in other countries.
VISTA Real Estate Belize
Belize City, Belize
Hugo Moguel, Broker/Owner
https://www.vistabelize.com
Tell us about your company.
Vista Real Estate is unique due to the number of years we’ve been operating in our market (18) and the client experience we deliver. Just as Belize is known for its boutique style resorts and intimate settings, Vista is known for its reputation, honesty and transparency.
How would you describe your current housing market?
Local demand is high; however, limited financing options and relatively high cost make supply low. Condos are in high demand as are small single-family residential homes in tourist-driven markets. Unfortunately, modern-style homes sought out by the international and retiree market are in very low supply. The average home price is $450,000 USD, and prices are on the rise. Limited supply and rising costs of construction are the main cause for increasing costs. More condos and single-family bungalows are planned, but mostly to support the high-end market.
What are some other housing trends?
The housing market has become very diverse in terms of its offerings and pricing. Single-family detached homes can be found throughout Belize on small lots or acreage. On the islands and beachfront communities, where beachfront land is scarce, condominium buildings have been flourishing.
What are some of the most important trends in your market?
Increasing cost of living, inflation and politics are driving buyers and investors from North America and now Europe into markets such as Belize.
What advice do you have for foreign buyers interested in buying in your area?
Seek out an agent or broker established in Belize. Belize is beautiful, but not for everybody. It’s important that buyers seek qualified and honest advice and that their agent has knowledge and experience in different parts of the country or has strong connections in the markets throughout the country. Belize is small, but very diverse—and each market has its own nuances.
What do you love most about living in your area?
The easy access to nature and marine activities. The total land area of Belize is 8,867 square miles, and the government has been investing heavily in roads and infrastructure over the last few years. This makes accessibility to prime destinations throughout the country a main selling point.
How will being part of LeadingRE help advance your business?
We’re proud to be affiliated with LeadingRE. Our leadership standing in the local market as well as experience and access to all markets in the country over all property types combined with the global reach and industry knowledge LeadingRE provides make us truly unique in our market and a standout among local companies in Belize.
For more information, visit https://www.leadingre.com/.
