Recognising the potential in Isla Mujeres
Equitable Property Investment started building on Isla Mujeres in 2002, making the company the longest established professional Isla Mujeres real estate building company. At that time there were one or two small building projects in progress, mainly Americans having their own home built; Isla Mujeres real estate was still in its infancy.
One of the directors of the company stumbled across Isla Mujeres purely by chance and was fascinated by the island and what it had to offer. He was amazed that at that time there was very little interest in the island and virtually none of the wealthy visitors the island is host to today.
Land was a lot less expensive to buy, not cheap but relative to the cost of high quality lots on the Island now, it appears very cheap by comparison. Because the Island is small and the demand for luxury Isla Mujeres real estate is high, land in the prime areas is becoming increasingly expensive and difficult to acquire.
In 2002 there was no Ultramar ferries just the small and rather old Magana boats that would hold about fifty passengers and were rarely full. The last ferry to Isla Mujeres left fairly early in the evening, if you missed that you were stranded. Ultramar ferries had the foresight to predict the future demand from tourist and the regular visitors who were starting to buy quality Isla Mujeres real estate and introduced a fleet of large modern ferries. Although they run every half an hour and sometimes more frequently, they can barely cope with the demand.
The first properties we built on Isla were three bedroom three bathroom villas each with their own pool which sold for $250,000, nowadays the 400 square meter lots we own are alone valued at $275,000. Of course had we anticipated just how great the demand Luxury Isla Mujeres real estate, was going to become we would have bought far more land.
Whilst we saw that the island had great potential we had no idea just how quickly the island would become a key holiday destination; back then the main visitors were backpackers. Whilst property is expensive compared with back then in 2002, if compared with other luxury Caribbean locations Isla Mujeres real estate still offers excellent value for money.
A major expense when building on Isla Mujeres is getting all the materials across from the mainland, as we build to European standards the whole process is far more expensive that building to Mexican standards, although in reality there aren't really any Mexican standards that is why many properties have problems with leaks and damp and don't stand up well to hurricanes, whilst our properties built 15 years ago have had no problems whatsoever. Even when the hurricane Wilmer hit in 2005, which destroyed many properties, our properties remained unscathed. We believe that if someone is buying luxury Isla Mujeres real estate they are entitled to have it built to the highest standards; that is what we do.