Mexico real estate on the island of Cozumel has been one of the most attractive regions for retirees and other expats; the downtown region of the island's city (also called Cozumel) has just begun a processo f beautification in the boardwalk area.
In the project, which will give new urban image to this part of the island, the total investment will be 2.5 million pesos, (just over 220,000 USD) and will benefit the 90 000 inhabitants, including a large population of Americans and Canadians. Part of the plan is to strengthen the old-town charm and revitalize parts of the downtown area.
The project began on April 16, 2011. The historic pier of Cozumel welcomes about three million tourists via cruise ship and about 700 thousand visitors arriving by air every year. The project symbolizes the change of the urban image of the island.
The project will bring direct benefits to those who buy real estate on the island, especially to those who buy in town. The majority of Americans and Canadians who buy real estate in Cozumel appreciate the combination of the old charm in the town with the lush, green nature surrounding. The renovation of the boardwalk will help maintain and even improve the traditional Mexican charm that the town center offers residents.
The state government has also planned another 34 million pesos (about $2 million USD) into various other infrastructure projects in Cozumel, during its first phase of investment. The government is working to expand this budget to between 100 and 150 million pesos (about $9 13 million USD) for different items, such as the development of public spaces and parks on the island.
Similarly, the government has plans to continue promoting the growth in tourism on the island. Tourism growth likewise benefits residents, since increased tourism brings more revenue for government projects such as this one, as well as attracting more private investment into services, activities and amenities.
During the opening of the renovation work, the governor of the state specifically mentioned investment from hotel companies, providing more room capacity, and consequently, more tourist activities and services.
On the whole, Cozumel presents an options within
Mexico real estate, which offers the calmness of a very natural island, the rich history of the area's oldest Mayan community, Mexico's varied traditions, and modern convenience from tourism investment.
