Tulum's Real Estate Nightmare - 7 in 10 Developers Dodgy
Tulum's real estate market is plagued by fraud and scams. Many developers are operating illegally, leading to significant losses for investors. The bubble is on the verge of bursting as confidence dwindles.
Once a haven for real estate investment and a symbol of Mexico’s burgeoning tourism economy, Tulum is now facing a dark reality that is sending shockwaves through the industry. The picturesque beach town, situated along the stunning Riviera Maya, has become infamous for its soaring rates of property fraud and legal entanglements, surpassing even the notorious scam hotspots of Cancun and Playa del Carmen. According to the National Association of Business Lawyers of the Real Estate College (ANADE), Tulum has now become the most dangerous place in Quintana Roo for property investments.
A staggering 7 out of 10 property developers in Tulum are currently entangled in legal battles, battling claims ranging from illegal construction without proper permits to sales on land that hasn’t been properly vetted for development. Estrella Ríos, president of ANADE in Quintana Roo, paints a grim picture for potential investors. “We are seeing developers who are losing massive sums of money due to shady practices and lack of due diligence,” Ríos revealed. “Many buyers are also suffering because they are unaware of the risks associated with buying in Tulum.”
