There are two key locations where you can find most of the high end Isla Mujeres real estate. There is Sac Bajo which is a peninsula on the west side of the island. There is some really prime property in this location virtually all waterfront. The properties are generally 1980's and earlier but in perfect positions although many will probably get demolished in the future and rebuilt.
This in itself presents a problem because those buying these properties will generally having knocked the houses down will build apartments. This is a shame but understandable considering the very high prices that this land demands. Of course as more apartments are built the busier this location will become. This is shortly going to be exacerbated because there is a very large hotel of approximately 125 rooms being built in Sac Bajo which is going to increase traffic significantly. If you are considering buying Isla Mujeres real estate in this region it could be useful to limit your search to north of the new hotel.
The other key location for luxury Isla Mujeres real estate is Punta Sur which is the quietest part of the Island, at the southern end of isla Mujeres, away from all the bustle of the centre of the island, and yet within easy reach for an evening out in the busy main street Hidalgo. Property prices are high at the southern end of the Island; land that is available to build on has almost been exhausted and good quality lots almost non existent.
We were fortunate enough to buy the land where we are currently building on Punta Sur over 15 years ago, when we first started investing in Isla Mujeres. It has proved to be very beneficial having a land bank in an area like Isla Mujeres, where prices are increasing so steeply.
There are other areas that are somewhat less attractive but much cheaper in terms of property prices; however, the fact is wherever you invest in Isla Mujeres real estate you are not going to go far wrong.