Tulum, Q.R. — Demand in the Tulum real estate market has faced a 40 percent slowdown caused by an oversupply of housing units. Mario Antonio San Miguel Herrera, the new President of the Mexican Association of Real Estate Professionals (AMPI) says the oversupply has created an imbalance between supply and demand.
Unlike places such as Playa del Carmen where real estate activity has remained more level, Tulum experienced a development boom following the COVID-19 pandemic. San Miguel Herrera said that boom saturated the market.
“We estimate a 40 percent drop in purchase interest since then,” he said. The excess of available units has also impacted the rental market with many properties remaining vacant or reporting very low turnover.
He says the market has been overwhelmed mostly with the construction of one and two bedroom apartments particularly since 2024.San Miguel Herrera says he is, however, optimistic about the medium-term of the Tulum market.
With the opening of the Tulum International Airport and Tren Maya connection, there could be new opportunities to revitalize the real estate sector provided external factors influencing global investment are addressed.
“With favorable macroeconomic conditions, Tulum could enter a new phase of real estate development, but this time, in a more orderly and strategic manner,” he said.
