Cancun Real Estate – Downtown Renovation for 2011 – Tourist Focus

From its early days 40 years ago as Mexico’s first planned resort community, Cancun real estate has grown incredibly and has been defined by combining the classic beachfront condo with a variety of new possibilities, offered through the growth and transformation of the city. This point is again reflected for the upcoming year through a tourism-focused renovation of the downtown area.While tourism has generally been focused on the Cancun’s famous “hotel zone,” American and Canadian real estate buyers have already been discovering the potential of the downtown area as well. With another area for tourist activity, the new project will increase this potential, opening up new opportunities for investment in this area, and also offering an offshoot on the warm-weather, beachfront community lifestyle appealing to a wider base of buyers.The plan is expected to start within the first half of the year, bring infrastructure and image improvement to downtown which currently has a stronger focus on serving the local population.The project will focus on some of Cancun’s oldest neighborhoods, as well as a well-known park called “Las Palapas,” and the City Hall area. The plan includes the construction of modernized buildings, with a limit of 14 stories. This has been one of the defining factors of Cancun’s development from the rest of the Riviera Maya (the beachfront running for about 2 hours south of Cancun); while there is generally a building limit of 4 stories, Cancun has kept prices of real estate more affordable by allowing for highrises.The choice of the 14-story limit creates a “mid-rise” atmosphere avoiding very high constructions, while still maintaining price accessibility for Cancun real estate. This feature has also allowed Cancun’s downtown area to develop a more city-style atmosphere for those who prefer that to the small-town feel of the other communities. This atmosphere is also supported by a larger number of services.Those investing in real estate in the downtown area will likely see value increases with new services and improved image in the areas surrounding the improvements. This move will also continue to draw more interest from American and Canadian buyers to the area as Cancun’s downtown becomes more attractive as a community for international residents.