Engel & Völkers Announces Expansion into Tulum

March 3, 2023
A graphic announcing Engel & Völkers' new shop in Tulum.

The global luxury real estate brand grows its presence on México’s Riviera Maya as digital nomads and investors increasingly flock to the jungle oasis

Engel & Völkers announced today its newest location in Tulum, the brand’s third real estate shop in México. Carlo Rico Toluzzi and Kurissi Kuri, current license partners of Engel & Völkers Playa del Carmen, as well as and Manuel Fernández will serve as license partners and shop leadership for the newly established Engel & Völkers Tulum as the brand expands its business on the Yucatán peninsula. The shop will serve homebuyers and sellers in Tulum, Akumal, Chemuyil, Soliman Bay, Tankah Bay, Mahahual and Bacalar.

“The Riviera Maya is one of the fastest growing markets in Latin America,” said Anthony Hitt, president and CEO, Engel & Völkers Americas. “Tulum has experienced an influx of digital nomads from around the world who are seeking out long-term rentals as a growing portion of the remote workforce opts to live in a destination that offers a more relaxed, wellness-forward and tropical lifestyle. Investors are keen to capture this vacation rental market with private condos, houses and hotel residences offering a high rate of return on investment. With their proven success in Playa del Carmen and a distinct combination of both global experience and local expertise, Carlo, Kurissi and Manuel are ideally positioned to lead this expansion.”

Tulum’s real estate market offers a range of properties, from in-town studios and condos to luxury beachfront or jungle villas, which can be managed as both second homes and successful vacation rental businesses that provide an average annual return of 8-14%. Investment opportunities are also available via small boutique hotels, commercial properties and land for new development. Prices are appreciating, with steady yearly gains of 8-10% projected to continue, while México has comparatively low property taxes.

This high-growth region of the Riviera Maya, located about an hour south of Cancun International Airport, spans more than 80 miles along the Caribbean coast. Tulum is a UNESCO World Heritage Site, boasting white sand beaches, calm turquoise waters and ancient ruins scattered throughout. It is known for its lush jungles, natural cenote pools, world-class food scene, eco-chic hotels, boutique beach shops and artistic culture. 

“With the rapid growth of the real estate market in Tulum and the surrounding areas, the time is right to expand our business,” said Toluzzi. “Our shop in Playa del Carmen has had a positive, disruptive impact on the market structure and quality of client service, and we intend to continue raising standards across the region in providing the very best home buyer and seller experiences.”

“The Engel & Völkers brand brings a level of global prestige and recognition,” added Kuri. “Not only among the buyers entering our market from Canada, Germany, France, Switzerland, Belgium, the United States and beyond but also through the incredible referral and cross-selling opportunities that exist among our global network. As Tulum becomes a global destination, the support of a real estate brand like Engel & Völkers becomes a significant differentiator in the market.”
For more information, visit tulum.evrealestate.com.

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