Vacation Rental Markets Plunge in Riviera Maya

In December 2024, the vacation rental market in Cancun, Playa del Carmen, and Tulum experienced a significant drop in occupancy. The average occupancy rate fell from 54% in 2023 to 43%, according to data provided by the Association of Professional Vacation Rental Administrators (APAR). This downturn presents a considerable challenge for the region's sector, despite the growth in property listings.

The Riviera Maya's main destinations saw a substantial increase in property availability. Tulum led the way with an 18% growth, followed by Cancun at 10%, and Playa del Carmen at 7%. However, this increase in supply was not sufficient to offset the decline in occupancy. According to APAR's president, Manuel Lozano Álvarez, the disparity between supply and demand intensifies competition among property owners. This could potentially result in a drop in average rental rates.