The Peso is Telling Us Something 

As you might expect, the place I keep coming back to is property in Playa del Carmen, Puerto Aventuras, Akumal, Tulum, and the surrounding Riviera Maya.

One of the most interesting pieces of the story starts with the Mexican peso. The U.S. dollar has decreased against the peso compared to a couple of years ago. On August 17, 2024, US$1 was around MX$18.64. Today, it is around MX$17.00.

Putting that into real-world terms, it means that US$400,000 would have bought a property valued at roughly MX$7.46 million in August 2024. Today, that same US$400,000 buys roughly MX$6.81 million. At first glance, that might sound like bad news for American-centric purchases, right? NOT NECESSARILY. A large portion of Riviera Maya real estate is priced in U.S. dollars. A property listed at US$600,000 doesn’t suddenly decrease in price because the peso strengthens. It stays priced in USD. Whew.😅

But the stronger peso still tells us something important. The stronger peso reflects a degree of stability and confidence in Mexico’s economic position at a time when there is plenty of uncertainty elsewhere. Mexico’s economic relationship with the United States, its manufacturing base, nearshoring potential, tourism economy, and financial integration all form part of that bigger picture. BBVA Research, for example, points to Mexico’s macroeconomic stability and integration with the U.S. as important factors supporting the economy despite the pressures created by an appreciating peso. So the story of Mexico as unstable, making it less desirable to invest, is becoming outdated.

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So What Does That Mean for Riviera Maya Real Estate?

It means foreign buyers need to think differently. If you are an American, Canadian, or European looking at real estate in Playa del Carmen or any Riviera Maya property, the currency itself is a smaller part of the investment equation. It means you are looking at a market where the local currency itself has demonstrated strength. A savvy investor would ask:

“What am I actually buying, and why will someone want this property five, ten, or fifteen years from now?”

That leads us away from speculation and toward fundamentals.

• Location.
• Walkability.
• Infrastructure.
• Lifestyle.
• Construction quality.
• Rental demand – long or short term.
• Operating costs.
• Resale potential.

And perhaps most importantly, whether the property would still be desirable, even if the market isn’t going up 25% a year.

This isn’t Another “Mexico Real Estate is Booming!” Article.

Tourism deserves attention because real estate in the Riviera Maya follows tourism. It is interesting to note that hotel occupancy across the Riviera Maya was 76.32% for January–May 2026, compared with 78.46% for the same period in 2025. Playa del Carmen was at 75.60%, while Tulum was at 69.88%. Lower occupancy does not automatically mean real estate opportunity has disappeared. In some ways, a market that requires buyers to be more selective can ultimately be healthier than one where everyone assumes every property will appreciate. It demands that people consider the totality of what they are buying for lifestyle and a long-term hold.

Playa del Carmen continues to attract investment. The municipality reported more than MX$1 billion in planned private investment for 2026 and described the city as one of Mexico’s more dynamic real estate and tourism markets. Mexico’s broader tourism story remains significant as well. Government data reported international visitors up 9.3% in January–February 2026, with international tourists up 6.5% compared with the same period in 2025. So two stories are happening at once: The market is normalizing. And the underlying destination remains highly relevant.

Chaos Creates Separation

When everything is going up, almost every property can look like a good investment. When conditions change and do not meet this expectation, quality begins to separate itself from hype. That’s where I think the opportunity becomes interesting. The question isn’t whether every condo in the Riviera Maya will appreciate. The question is whether there are properties that are better positioned than others to withstand uncertainty and benefit from long-term demand.

I believe there are. And those are the properties I want us all to understand.
After more than 22 years in the Riviera Maya real estate space, I have learned that the neighborhood, the developer, the construction, the location, the rental market, and the infrastructure matter. Data matters. Technology matters. Human experience tops it all. You owe it to yourself to talk to us. Not because we at LivingRivieraMaya.com can predict what will happen next, but because we can give you the information and nuances you need to make your own best decision.

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What About Taxes?

This is another area where the conversation gets interesting, and also where I want to be very clear. I am not a tax expert and have never pretended to be one. My advice on taxes has always been simple: Talk to your accountant.

There are questions worth asking, particularly for Canadians and Americans who own investment property in Mexico. For example, could a legitimate capital loss on an investment property here in Mexico eventually have value against capital gains in the investor’s home country? For a Canadian investor, a qualifying capital loss can potentially be used against taxable capital gains, subject to Canadian rules. And because the property is in Mexico, the calculation can involve the Mexican peso, the Canadian-dollar value at acquisition and disposition, the property’s adjusted cost base, and other factors. For an American investor, the rules are different again. These are interesting questions.

Be very clear: I would never suggest buying a property because you hope to lose money on it. Who wants to promote losing money as a good real estate investment strategy? The investment should make sense on its own.

• If the property appreciates, great.
• If it produces good rental income, this is even better.
• If it preserves capital, that is a great patrimony for your loved ones.
• And if something goes wrong and a legitimate tax loss results, then you want to understand the tax consequences.

The tax treatment is part of the financial picture. It isn’t the reason to buy the property.

The Bigger Idea

This is really what I mean by Opportunity in Chaos. I’m not suggesting that the world is going to become less complicated. It probably won’t. I’m suggesting that uncertainty changes the way opportunities appear. Although the number of properties available on the market is abundant, a more selective process is what creates separation between quality and speculation. Changing tourism patterns create both challenges and opportunities. This is where we step in.

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Global uncertainty makes people think harder about where they want to live, where they want to invest, and what they actually own. And that may be exactly when a disciplined investor should start paying closer attention. Using all the LLMs, such as Claude and ChatGPT, will NOT ever make up for the sound experience we have gained over more than 22 years in the market.  🫵

Not because everything is perfect. The opportunity isn’t necessarily found when everyone agrees that something is a great investment. Sometimes the opportunity is found when the story is more complicated, the headlines are noisier, and everyone is trying to figure out what happens next. That’s where I’m looking.

👉 Riviera Maya – meaning Playa del Carmen, Tulum, and all points in between, such as Akumal, Puerto Aventuras, Tulum Country Club, and Mayakoba Country Club.

Real estate.

The peso.

The world around us – these all create the opportunities that may be hiding in the middle of the chaos.

This is Just the Beginning. Talk to US at LivingRivieraMaya.com

This newsletter is my perspective on real estate, markets, and the Riviera Maya. It is not financial, investment, or tax advice. I am not a tax expert. For questions about the tax treatment of Mexican property in your home country, always speak with your qualified accountant or cross-border tax professional. Currency rates and market conditions change, and individual properties should always be evaluated on their own merits.