April 6, 2024
Today´s Paper

Behind Tulum’s Beauty Lurks a Real Estate Scam Epidemic

TULUM, Mexico – In the heart of Tulum’s mesmerizing landscapes, where turquoise waters meet pristine beaches and ancient Mayan ruins whisper tales of a bygone era, a shadow looms over paradise. The director of Costa Realty Group México, Yunuem Zúñiga, has sounded a cautionary note, dubbing the municipality of Tulum as “the king of real estate scams.” This startling declaration comes as a stark reminder that amidst the allure of this tropical haven, a complex web of property-related issues continues to persist, despite efforts to regulate the sector.

During a recent press conference that aimed to shed light on an upcoming first aid course and celebrate acts of altruism within the community, Yunuem Zúñiga passionately emphasized the rampant presence of what she describes as “improvised” individuals within the real estate industry. These opportunistic figures exploit the region’s robust capital gains to defraud unsuspecting buyers, a concern that is particularly pronounced in the ninth municipality.

“Tulum is the king of scams. Nobody in my agency wanted to sell Tulum because there were apocryphal deeds, or land with up to three deeds,” she lamented.

In response to this disconcerting reality, Zúñiga underscored the critical importance of due diligence for potential investors. She urged them to thoroughly investigate the backgrounds of the companies with which they plan to engage in property transactions. Additionally, she stressed the necessity of ensuring that prospective properties have no outstanding liens and are registered in the name of the selling party.

“We always advise the client, so that people are calmer about what they are buying,” Zúñiga emphasized, her commitment to safeguarding the interests of property buyers evident.

Behind Tulum's Beauty Lurks a Real Estate Scam Epidemic

While the Mexican Association of Real Estate Professionals (AMPI) has made commendable efforts to enhance the professionalism of real estate advisors, Zúñiga acknowledged that there is still much ground to cover. The frequent turnover of personnel within agencies poses a formidable challenge to achieving comprehensive certification and professionalization.

Furthermore, Zúñiga shed light on the financial landscape of Quintana Roo, revealing that the capital gain stands at an impressive 14.7%. Presently, a significant 79% of buyers opt for fully constructed properties, while 17% express interest in acquiring land. The remaining fraction prefers diverse investment avenues, including residential and commercial properties.

Zúñiga, an industry expert, pointed out that investing in land yields more substantial gains than purchasing a finished product. She argued that land investments offer a secure and less volatile means of capitalizing on the region’s real estate potential, compared to other investment alternatives or business ventures.

In conclusion, while Tulum’s allure is undeniable, prospective investors are urged to exercise caution and engage in meticulous research to avoid falling victim to the web of real estate scams that continue to cast a shadow over this tropical paradise.


Get Tulum's Latest News Direct to Your Inbox

Related Articles