Making money whilst enjoying Isla Mujeres.
The reasons for buying an Isla Mujeres home is usually two fold, or even three fold; To enjoy for holidays and weekend, to rent out when not using the property and of course it is many purchasers dream that it will eventually become their retirement home.
Renting an Isla Mujeres property is not just about covering expenses, it can be very profitable. We have three Luxury Isla Mujeres properties which we rent out and in the peak season they are regularly rented out. Mostly they are rentals of between one and three weeks, however we had one rental this season from the 8 of February till the end of March which came to just under $20,000.
Interestingly those who are retired often continue to let out their property, taking the view that they are happy to vacate the property for two weeks and have a very nice holiday, with money to spare from the $7,000 they receive in rental income. Rentals have reduced somewhat as more properties have come onto the market. Nevertheless $500.00 a night is a very achievable rental one could expect for a three bedroom three bathroom luxury Isla Mujeres property. This in fact represents very good value for money. Properties in the less sought after parts of the island are often rented out for $200.00 per night.
There are Hotels on the island where a double room will cost $800.00 per night, so $500.00 per night for up to six people is in fact very economical. Of course when you stay in a hotel the expense doesn’t stop there, you still need to eat out two or three time a day. For a family of four this can start to work out very expensive. If you rent a villa you can chose; perhaps eating out some evenings and cooking a special meal and enjoying the pool in the evening on other occasions.
Buying Isla Mujeres real estate has always represented and excellent investment. Unlike many regions where they just keep building, this is not an option on Isla Mujeres and as many who have wanted to buy land in order to build their home have discovered, there is no prime land left. As a company we started buying land on Isla Mujeres in 2002. The land on which our properties built at Punta Sur, the southern end of the island was all snapped up many years ago.
A major factor in the demand for Isla Mujeres property is the peace and tranquillity that the island offers, there are not many places in the world where you can safely walk around at two or three am without any fears or worries. We have had property on the island for nearly twenty years without a single burglary. What more could anyone want.