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New Apartments & Condos for Sale in Tulum - 2024 Edition

The real estate market in Tulum is as diverse as its natural beauty. From luxurious eco-resorts to quaint jungle hideaways, there's a property to match every aspiration. Whether you're drawn to chic condos, expansive villas, or off-grid homes nestled in nature, each option promises a unique and sustainable living experience.

 

One of the key attractions for investors is Tulum's booming tourism industry. The town's rising popularity ensures a robust rental market, making it an ideal spot for vacation rentals or second homes. With international travelers flocking to its shores, investing in Tulum real estate offers both lifestyle benefits and financial returns.

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1. Introduction to Tulum

​The Allure of Tulum

Nestled along Mexico's Caribbean coastline on the Yucatán Peninsula, Tulum is a destination that effortlessly combines natural beauty, rich history, and modern luxury. Once a sleepy fishing village, it has transformed into a global hotspot known for its stunning beaches, ancient Mayan ruins, and a vibrant cultural scene.​

  • Pristine Beaches: Miles of powdery white sands meet the crystal-clear turquoise waters of the Caribbean Sea, offering some of the most breathtaking beachscapes in the world.

  • Historical Significance: Home to well-preserved Mayan ruins perched atop coastal cliffs, Tulum provides a unique glimpse into ancient civilizations.

  • Eco-Friendly Ethos: A strong commitment to sustainability and eco-conscious living permeates the town, attracting a community dedicated to preserving its natural beauty.

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Growth as a Real Estate Hotspot

Tulum's real estate market has seen exponential growth over the past decade, driven by:

  • Tourism Boom: A surge in international visitors seeking unique experiences beyond traditional resorts.

  • Investment Opportunities: High demand for vacation rentals and increasing property values offer attractive returns.

  • Development of Infrastructure: Improvements in roads, utilities, and amenities have made Tulum more accessible and livable.

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2. Why Invest in Tulum Condos?

Booming Tourism Industry

  • Visitor Influx: Tulum attracts millions of tourists annually, drawn by its beaches, cultural sites, and lifestyle.

  • Short-Term Rentals: High occupancy rates and premium rental prices make condos a lucrative investment.

  • Global Recognition: Featured in numerous travel publications and social media, Tulum's popularity continues to rise.

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High Return on Investment

  • Appreciation Potential: Property values have consistently increased, offering substantial capital gains.

  • Rental Income: Investors can expect rental yields ranging from 8% to 14% annually.

  • Diversification: Investing in Tulum real estate provides a hedge against market volatility elsewhere.

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Sustainable Living and Eco-Tourism

  • Eco-Friendly Developments: Many properties are built with sustainable materials and practices.

  • Attracting Mindful Travelers: Growing demand from tourists seeking environmentally responsible accommodations.

  • Government Support: Policies favor eco-tourism initiatives, enhancing the appeal of sustainable properties.

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3. Understanding Tulum's Neighborhoods

Tulum Beach (Zona Hotelera)

Overview: The beachfront area is the epitome of Tulum's luxury and eco-chic lifestyle, featuring upscale hotels, fine dining, and exclusive beach clubs.

Highlights:

  • Premium Real Estate: High-end condos and villas with direct beach access.

  • Gourmet Cuisine: Home to internationally acclaimed restaurants offering diverse culinary experiences.

  • Nightlife: Trendy bars and events featuring world-renowned DJs and artists.

Considerations:

  • Higher Investment Cost: Properties here command premium prices.

  • Limited Availability: High demand leads to limited inventory.

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Aldea Zamá

Overview: A master-planned community that balances modern living with nature, situated between the beach and Tulum town.

Highlights:

  • Modern Amenities: Shopping centers, cafes, and wellness centers.

  • Green Spaces: Abundant parks and preserved natural areas.

  • Community Vibe: A mix of locals and expats fostering a friendly atmosphere.

Considerations:

  • HOA Fees: Maintenance of communal areas may result in higher fees.

  • Development Regulations: Architectural guidelines to maintain aesthetic consistency.

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La Veleta

Overview: An artistic and rapidly developing neighborhood known for its bohemian flair.

Highlights:

  • Affordability: More budget-friendly options compared to beachfront properties.

  • Creative Scene: Art studios, galleries, and cultural events.

  • Wellness Focus: Proximity to Holistika and other wellness centers.

Considerations:

  • Infrastructure Development: Ongoing construction may affect tranquility.

  • Road Conditions: Some areas may have unpaved roads.

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Region 15

Overview: An emerging area offering investment potential, located close to the upcoming Kukulkan Avenue extension.

Highlights:

  • Investment Opportunities: Lower entry prices with high appreciation potential.

  • Jungle Living: Properties surrounded by lush vegetation.

Considerations:

  • Limited Amenities: Fewer immediate services and conveniences.

  • Infrastructure: Developing roads and utilities.

  • STUDIO CONDO IN TULUM

4. Types of Condos Available in Tulum

Studio Condos

Ideal for individuals or couples, studios offer:

  • Compact Living: Efficient use of space with combined living and sleeping areas.

  • Affordability: Lower price points and maintenance costs.

  • Rental Appeal: Popular among solo travelers and short-term renters.

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1-Bedroom Condos

Offering more space and privacy:

  • Separate Sleeping Area: Distinct bedroom and living spaces.

  • Versatility: Suitable for singles, couples, or small rental groups.

  • Investment Balance: Moderate pricing with good rental demand.

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2-Bedroom Condos

Perfect for small families or groups:

  • Additional Space: Extra bedroom for guests or family members.

  • Increased Rental Income: Ability to accommodate more guests at higher rates.

  • Resale Value: Appeals to a broader market of buyers.

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3-Bedroom Condos

Ideal for larger families or shared ownership:

  • Spacious Living: Ample room for comfort and privacy.

  • Luxury Features: Often include premium amenities and finishes.

  • Rental Potential: Attracts higher-paying rental groups.

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4+ Bedroom Luxury Condos

The pinnacle of opulence:

  • Expansive Layouts: Multiple bedrooms with en-suite bathrooms, large living areas.

  • Exclusive Amenities: Private pools, rooftop terraces, concierge services.

  • Prestigious Locations: Situated in the most coveted areas.

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5. Tulum Condo Market by Price

Budget Condos (Under $100,000)

Ideal For:

  • First-Time Investors: Individuals entering the real estate market with a limited budget.

  • Budget-Conscious Buyers: Those seeking an affordable vacation home or rental property.

  • Digital Nomads and Solo Travelers: Looking for a cost-effective base in a tropical location.

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Features:

  • Unit Types: Primarily studios and compact one-bedroom apartments.

  • Locations: Often situated in emerging neighborhoods like Region 12 or the outskirts of La Veleta.

  • Amenities: Basic facilities such as communal pools, shared gardens, and essential services.

  • Design: May feature minimalist or eco-friendly designs with an emphasis on efficiency.

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Investment Potential and ROI:

  • Rental Demand: Steady demand from budget travelers, backpackers, and long-term renters.

  • Rental Rates: Average nightly rates range from $50 to $80, depending on location and season.

  • Occupancy Rates: Approximately 60% to 70% annually, higher during peak tourist seasons.

  • Annual Rental Income: Potentially $10,000 to $15,000 per year.

  • Expenses: Estimated annual expenses (maintenance, utilities, property management) around $2,000 to $3,000.

  • Net Income: Approximately $7,000 to $12,000 per year.

  • ROI: Expected net ROI of 7% to 12% after expenses.

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Considerations:

  • Appreciation Potential: Properties may appreciate as infrastructure develops in emerging areas.

  • Lower Entry Cost: Accessible price point allows for diversification of investment portfolio.

  • Limited Luxury Appeal: May not attract high-end renters seeking premium amenities.​​

Standard Condos ($100,000 - $300,000)

Ideal For:

  • Couples and Small Families: Needing more space and comfort.

  • Mid-Level Investors: Seeking a balance between investment cost and returns.

  • Buyers Desiring Amenities: Interested in modern facilities and convenient locations.

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Features:

  • Unit Types: One to two-bedroom condos, some with additional space like terraces or small gardens.

  • Locations: Established neighborhoods such as Aldea Zamá, central La Veleta, and close to Tulum Town.

  • Amenities: Swimming pools, fitness centers, security services, parking, and sometimes concierge services.

  • Design: Modern architecture with quality finishes; some focus on sustainable and eco-friendly designs.

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Investment Potential and ROI:

  • Rental Demand: High demand from families, couples, and groups seeking comfortable accommodations.

  • Rental Rates: Average nightly rates range from $100 to $200, varying by property and season.

  • Occupancy Rates: Approximately 65% to 75% annually, boosted during holidays and peak seasons.

  • Annual Rental Income: Potentially $20,000 to $40,000 per year.

  • Expenses: Estimated annual expenses (maintenance, utilities, property management) around $5,000 to $7,000.

  • Net Income: Approximately $15,000 to $33,000 per year.

  • ROI: Expected net ROI of 8% to 12% after expenses.

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Considerations:

  • Market Appeal: Attracts a broad segment of tourists willing to pay for additional space and amenities.

  • Resale Value: Properties in prime locations may appreciate more rapidly.

  • Competitive Edge: Unique features or superior locations can command higher rental rates and occupancy.​​

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Luxury Condos (Above $300,000)

Ideal For:

  • High-Net-Worth Individuals: Seeking premium properties with luxury features.

  • Experienced Investors: Targeting the upscale rental market for higher returns.

  • Lifestyle Buyers: Desiring a second home with top-tier amenities and exclusivity.

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Features:

  • Unit Types: Spacious two to four-bedroom units, including penthouses and exclusive villas.

  • Locations: Prime areas such as Tulum Beach (Zona Hotelera), Aldea Zamá Premium, Tankah Bay, and Bahia Soliman.

  • Amenities: High-end finishes, private pools, rooftop terraces, ocean views, concierge services, spa facilities, and 24/7 security.

  • Design: Architectural masterpieces often incorporating innovative and sustainable designs.

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Investment Potential and ROI:

  • Rental Demand: Strong demand from affluent travelers seeking luxury accommodations.

  • Rental Rates: Average nightly rates range from $300 to $1,000+, depending on property and season.

  • Occupancy Rates: Approximately 70% to 80% annually, with peak seasons attracting premium rates.

  • Annual Rental Income: Potentially $80,000 to $200,000 per year.

  • Expenses: Estimated annual expenses (maintenance, utilities, property management) around $15,000 to $25,000.

  • Net Income: Approximately $65,000 to $175,000 per year.

  • ROI: Expected net ROI of 10% to 15% after expenses.

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Considerations:

  • Exclusive Market: Targets a niche market willing to pay for luxury and exclusivity.

  • Higher Maintenance Costs: Premium amenities require more upkeep and higher operating expenses.

  • Marketing Strategy: May necessitate professional marketing to reach high-end clientele.

6. The Buying Process in Tulum

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Engaging a Real Estate Agent

  • Local Expertise: Agents understand market trends and property values.

  • Legal Guidance: Assistance with contracts and legal requirements.

  • Property Selection: Access to a wide range of listings, including off-market opportunities.

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Legal Considerations for Foreign Buyers

Fideicomiso (Bank Trust):

  • Setup Cost: Approximately $1,500 to $2,000 USD.

  • Annual Fees: Around $500 to $800 USD.

  • Rights: Full ownership rights, including the ability to sell, rent, or bequeath the property.

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Mexican Corporation:

  • Alternative for those planning to conduct business activities.

  • Setup Cost: Approximately $2,000 to $3,000 USD.

  • Annual Maintenance: Accounting and legal fees of $1,000 to $2,000 USD.

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Financing Options

  • Cash Purchases: Common due to limited local financing for foreigners.

  • Developer Financing: Some developers offer payment plans during construction.

  • International Mortgages: Available through select lenders with interest rates between 6% to 9%.

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Property Inspection and Due Diligence

  • Professional Inspection: Assess property condition and identify potential issues.

  • Review of Documents: Ensure all permits and titles are in order.

  • Understanding Fees: Be aware of closing costs, taxes, and ongoing expenses.

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FAQ

7. Frequently Asked Questions

Can Americans buy condos in Tulum?

Yes, Americans—and all foreigners—can legally purchase condos in Tulum. While the Mexican Constitution restricts direct ownership of property within the "restricted zone" (50 kilometers from the coastline and 100 kilometers from international borders), foreigners can acquire property through a Fideicomiso, a bank trust authorized by the Mexican government.

  • Fideicomiso (Bank Trust):

    • Setup Cost: Approximately $1,500 to $2,000 USD.

    • Annual Fees: Ranges from $500 to $800 USD.

    • Duration: 50-year trust, renewable indefinitely.

    • Ownership Rights: Full rights to occupy, lease, sell, or will the property.​

Alternatively, foreigners can purchase property through a Mexican corporation, which can own property anywhere in Mexico, including the restricted zones.

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What is the return on investment for Tulum properties?

The ROI for Tulum properties is notably attractive due to the area's booming tourism and high rental demand.

  • Average ROI: Investors can expect a net ROI of 8% to 14% annually after expenses.

  • Rental Income:

    • Standard Condos: Annual rental income ranges from $20,000 to $40,000 USD.

    • Luxury Condos: Can generate $50,000 to $100,000+ USD per year.

  • Occupancy Rates: Average 70% to 85% annually, peaking during high season (December to April).

  • Capital Appreciation:

    • Property values have been increasing by 8% to 15% per year over the past five years.

  • Example:

    • Purchase Price: $250,000 USD.

    • Annual Rental Income: $30,000 USD.

    • Expenses (Maintenance, Fees): $5,000 USD.

    • Net Income: $25,000 USD.

    • ROI: 10% per annum.

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Are there property taxes in Tulum?

Yes, property taxes in Tulum, known as Predial, are required annually but are relatively low compared to other countries.

  • Tax Rate: Approximately 0.1% to 0.2% of the property's assessed value.

  • Example:

    • Property Value: $200,000 USD.

    • Annual Property Tax: $200 to $400 USD.

  • Discounts: Paying early in the year may qualify you for discounts of up to 25%.

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How much does it cost to build a house in Tulum?

Building a house in Tulum can be cost-effective, depending on the size, design, and materials.

  • Construction Costs:

    • Standard Quality: $80 to $100 USD per square foot.

    • High-End Quality: $120 to $200 USD per square foot.

  • Total Estimated Cost:

    • 2,000 sq ft Standard Home: $160,000 to $200,000 USD.

    • 2,000 sq ft Luxury Home: $240,000 to $400,000 USD.

  • Additional Costs:

    • Architect and Engineering Fees: 5% to 15% of construction costs.

    • Permits and Licenses: Approximately $5,000 to $10,000 USD.

    • Land Purchase: Varies widely; for example, a 10,000 sq ft lot can range from $50,000 to $200,000 USD depending on location.

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Is it a good time to buy in Tulum?

Absolutely. Several factors make it an opportune time to invest in Tulum real estate:

  • Market Growth:

    • Property values have increased by 8% to 15% annually.

  • Tourism Surge:

    • Over 2 million tourists visited Tulum in 2022, a number that's steadily rising.

  • Infrastructure Development:

    • Projects like the Maya Train and the new Tulum International Airport (scheduled to open in late 2024) are expected to boost accessibility and property values.

  • High Rental Demand:

    • Consistent demand for vacation rentals ensures steady income.

  • Example:

    • Investors purchasing now can benefit from both rental income and property appreciation, potentially increasing their investment value by 30% to 50% over the next five years.

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Is it smart to buy a condo in Mexico?

Yes, buying a condo in Mexico, particularly in high-demand areas like Tulum, is considered a smart investment for several reasons:

  • Affordability:

    • Property prices are often lower than similar properties in the U.S. or Europe.

  • Strong Rental Market:

    • High tourist traffic leads to excellent rental occupancy rates.

  • Appreciation Potential:

    • Rapidly growing markets like Tulum offer significant appreciation.

  • Lifestyle Benefits:

    • Access to beautiful beaches, rich culture, and a relaxed lifestyle.

  • Investment Diversification:

    • Investing in international real estate diversifies your portfolio.

  • Example:

    • A $200,000 USD condo in Tulum could generate an annual net income of $15,000 to $20,000 USD, while also appreciating in value.

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How much are property taxes in Tulum?

As previously mentioned, property taxes in Tulum are quite low.

  • Annual Property Tax Rate: 0.1% to 0.2% of the assessed property value.

  • Average Annual Tax:

    • For a $150,000 USD Condo: $150 to $300 USD.

    • For a $500,000 USD Luxury Property: $500 to $1,000 USD.

  • Payment Discounts:

    • Early payment discounts can reduce your tax bill by up to 25% if paid in January.

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Is it expensive to live in Tulum?

The cost of living in Tulum is moderate and can be adjusted based on lifestyle preferences.

  • Housing:

    • Renting a 1-Bedroom Apartment:

      • In Town: $500 to $800 USD per month.

      • Near the Beach: $1,200 to $2,500 USD per month.

  • Utilities:

    • Electricity: $50 to $100 USD per month (higher if using A/C frequently).

    • Water and Gas: $20 to $40 USD per month.

  • Groceries:

    • Monthly Expenses: $200 to $400 USD for a single person.

  • Dining Out:

    • Local Restaurants: $5 to $15 USD per meal.

    • Upscale Dining: $30 to $100 USD per person.

  • Transportation:

    • Bicycle Rental: $5 to $10 USD per day.

    • Taxis within Town: $2 to $5 USD per trip.

  • Healthcare:

    • Doctor's Visit: $40 to $60 USD.

    • Health Insurance: Private plans start around $1,200 USD per year.

  • Total Estimated Monthly Expenses:

    • Modest Lifestyle: $1,200 to $1,800 USD.

    • Comfortable Lifestyle: $2,000 to $3,000 USD.

  • Example:

    • A couple living comfortably might spend around $2,500 USD per month, including rent, utilities, groceries, and entertainment.

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How many new condos are built yearly in Tulum?

  • Annual Construction Volume:

    • Approximately 1,500 to 2,000 new condo units have been constructed annually over the past few years.

  • Growth Rate:

    • This represents a growth rate of about 10% to 15% in the housing supply each year.

  • Market Drivers:

    • High demand from international buyers and tourists.

    • Development of new neighborhoods like Region 15 and Aldea Zamá.

  • Future Projections:

    • With infrastructure projects like the Maya Train, construction is expected to continue at a similar or increased pace.

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Why are there so many apartments for sale in Tulum?

Several factors contribute to the abundance of apartments for sale:

  • Booming Tourism Industry:

    • Developers are building more units to meet the accommodation needs of growing tourist numbers.

  • Investment Opportunities:

    • Attractive ROI encourages both domestic and international investors to purchase properties.

  • Market Confidence:

    • Stable economic conditions and property appreciation attract developers.

  • Infrastructure Development:

    • Upcoming projects like the Maya Train and new airport increase the area's appeal.

  • Lifestyle Demand:

    • Tulum's unique blend of natural beauty, culture, and sustainability attracts buyers looking for second homes or retirement options.

  • Example:

    • A developer may launch a new condo project with 100 units, anticipating high demand from investors seeking rental income and capital appreciation.

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